BNP Paribas Real Estate continues to develop W.I.R.E.D. (Wearable Immersive Real Estate Dataroom), the digital twin project that looks at a city in the past, present and future. This real estate analysis and forecasting tool uses data to reproduce past developments and anticipate future changes in cities, thereby providing a virtual immersion into a city’s heart.
New features include the ability to view neighbourhoods throughout Europe with qualified data on millions of properties as well as the possibility of meeting other parties in this virtual space with a view to "e-visiting" assets for sale or rent. These latest capabilities are presented at Viva Technology, a tech trade show held from June 15 to 18 at Paris Expo, Porte de Versailles in Paris.
STATE-OF-THE-ART TECHNOLOGY FOR AN AUGMENTED WORLD
W.I.R.E.D. is a technological platform with a set of solutions to create an augmented virtual replica of cities. To achieve this, BNP Paribas Real Estate enlisted the help of the world's best experts in immersive reality, particularly in the world of video gaming and special effects cinema.
The technology company UNITY has developed a leading platform to create and use interactive 3D content in real time (3DTR). This gives BNP Paribas Real Estate's teams a tool to visualise real estate data in 3D with outstanding graphic qualities and in a tangible and contextualised environment.
“The transaction business is changing; technology is supporting the transformation and W.I.R.E.D. is a perfect example. This immersive tool will allow us to better respond to our clients' questions and needs. We firmly believe that these practical innovations are crucial to the agility of our business and we are proud to continue revolutionising the marketplace,” explains Eric Siesse, Deputy General Manager of BNP Paribas Real Estate Transaction.
NVIDIA provides technology that enhances the customer experience and allows W.I.R.E.D. to be genuinely portable. With NVIDIA CloudXR streaming software, W.I.R.E.D. users are now able to experience this application streamed over the network from an NVIDIA-Certified RTX-enabled system directly to their all-in-one headset.
“Powerful visualisation tools are essential for exploring and evaluating real estate data,” said David Weinstein, Director of XR at NVIDIA. “By streaming their immersive experiences from powerful NVIDIA GPUs at the edge using CloudXR, W.I.R.E.D. users can explore their full-fidelity data in rich detail, even on modest XR devices.”
BNP Paribas Real Estate also teamed up with Magic Leap, a company that has developed an advanced optical augmented reality headset for enterprises. The company's latest headset, Magic Leap 2, will be used to demonstrate W.I.R.E.D. to Viva Technology attendees. The Magic Leap 2 headset offers the industry's largest field of view, industry-leading image quality, and exception digital rendering thanks to its exclusive dimming technology that solidifies digital content in brightly lit environments.
"Magic Leap is excited to once again partner with BNP Paribas Real Estate to bring their enterprise augmented reality solutions to life at Viva Technology," said Julie Larson-Green, Chief Technology Officer of Magic Leap. "Augmented reality is currently capable of producing real value for businesses who invest in the right platforms and solutions and W.I.R.E.D. is an excellent example of this."
Yet, although the digital twin is a necessary tool, it is not sufficient anymore to understand real estate markets. The major advantage of W.I.R.E.D. is the way it is used in combination with the wealth of additional information it allows to format and thus visualise. Thanks to the cross-referencing of BNP Paribas Real Estate's proprietary data with open data, the client can view millions of buildings and their surroundings across time (between 1997 and 2030) and throughout Europe. To merge its high-quality, pre-qualified data, BNP Paribas Real Estate used the technology of ESRI, an integration solution leveraging NVIDIA’s technologies, that enables data to be assimilated and updated in real time, regardless of its source (public data, forecast studies, surveys, connected objects, etc.).
W.I.R.E.D.'s agility also means that a targeted forecast can be shared, exploring the markets without the constraints of time or place. Demographic, topographical and economic data collection allows the economic impact of a district's development to be simulated in terms of the space dedicated to office, retail and residential activities.
This way, W.I.R.E.D. offers a comprehensive view of a real estate market, taking users from the European level down to the neighbourhood, then right inside the building. The wealth of its database means that all the details of the building and its immediate environment (public transport, services, diversity, etc.) can be assessed and future developments can be guessed at.
This digital clone of the city is a first on the market and devoted to BNP Paribas Real Estate clients. It seeks to enhance their understanding of the market and especially their decision-making from anywhere in the world.