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JPMorgan adopts Sustainable Building Software
- April 20, 2022
- William Payne
Global bank JPMorgan Chase has adopted Prescriptive Data’s Nantum OS software to optimise energy use and reduce its carbon footprint in its office buildings. The company, the world’s largest financial services firm, plans to roll out the new software to its major office buildings across the globe.
Using Nantum OS software as the platform, JPMorgan Chase has designed a converged technology approach to meet its carbon emission reduction goals that involves the fusion of IoT, AI and blockchain.
Nantum OS is a machine learning climate technology designed for building operators, allowing property managers to visualise building HVAC systems, metering systems, people counting systems, IoT devices (air quality, lighting, shade, smart glass), distributed energy systems (battery storage, fuel cells, on-site generation equipment, solar), and third-party datasets in real time. Nantum OS uses real-time AI/ML algorithms to reduce building energy demand, suppress carbon emissions, and shrink utility costs.
The Nantum OS software will be embedded in JPMorgan Chase’s building management systems at its larger commercial real estate properties across the globe to help each building run more efficiently by using artificial intelligence and sensor technology to track and improve the firm’s energy use. The software analyses historical and real-time data from occupancy monitoring devices, indoor air quality sensors, thermostats and building meters. The data then links directly to the buildings’ HVAC systems to ensure that the least amount of energy is being used without sacrificing the comfort level and indoor air quality for occupants.
JPMorgan Chase achieved carbon neutrality in its operations in 2020, and has set additional targets to drive progress on operational sustainability, including a commitment to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2030. The firm continues to support the development of renewable energy by installing on-site renewable energy systems and executing long-term renewable energy procurement agreements, and has set a goal that these solutions will make up 70 percent or more of its renewable energy procurement by 2025.
“We’ve been working with the amazing building operations and sustainability teams at JPMorgan Chase since 2018, and we are excited to help the organisation reach its operational carbon emission reduction goals,” said Sonu Panda, CEO of Prescriptive Data. “Over the next few years, artificial intelligence and machine learning will be at the forefront of climate technologies, and JPMorgan Chase continues to be a market leader and pioneer in this space.”
“We’re committed to using state-of-the art technology, including artificial intelligence and blockchain technology, to better manage decarbonisation of our energy footprint across our global real estate portfolio,” said Hal Corin, Vice President of Sustainability for JPMorgan Chase’s Global Real Estate Group.
Later this year, Nantum OS will be announcing its Algo Marketplace, allowing other AI algorithm companies to plug directly into the Nantum OS platform. This will give real estate operators like JPMorgan Chase the ability to plug-and-play different automated energy conservation measures, creating a new age of smart building automation and sustainability.