Every Building Is a Balance Sheet: Spatial Memory for Real-World Assets — Jordi Spranger, Spranic

Congratulations. I am very excited Congratulations. I am very excited to be speaking today to be speaking today to be speaking today at AI Engineer NYC 2026. This is a at AI Engineer NYC 2026. This is a at AI Engineer NYC 2026. This is a joint project between joint project between joint project between Sprana and Neo4j. Sprana and Neo4j. Sprana and Neo4j. Sprana is a company Sprana is a company Sprana is a company I founded. It was I founded. It was I founded. It was founded in June 2026 founded in June 2026 founded in June 2026 . Neo4j is a graph . Neo4j is a graph . Neo4j is a graph database database database based in Malmö, based in Malmö, based in Malmö, Sweden. Special thanks to Sweden. Special thanks to Sweden. Special thanks to Zaim, who Zaim, who Zaim, who collaborates with us on collaborates with us on collaborates with us on behalf of Neo4j. Today we'll behalf of Neo4j. Today we'll behalf of Neo4j. Today we'll talk about how talk about how talk about how every building is a every building is a every building is a balance sheet and balance sheet and balance sheet and spatial memory spatial memory spatial memory for real assets. The for real assets. The for real assets. The largest largest largest asset class on Earth is asset class on Earth is asset class on Earth is real estate, with a real estate, with a real estate, with a global volume of global volume of global volume of about $400 about $400 about $400 trillion. That's more trillion. That's more than the world's stocks, than the world's stocks, than the world's stocks, bonds, bonds, bonds, and gold combined and gold combined . If you look . If you look . If you look to the right, you will see to the right, you will see to the right, you will see a lot of squares. a lot of squares. a lot of squares. Each square meter costs Each square meter costs Each square meter costs about 1 trillion, about 1 trillion, about 1 trillion, and you see that the and you see that the and you see that the residential sector is residential sector is the largest. That's the largest. That's the largest. That's about 300 trillion about 300 trillion . Next we see . Next we see . Next we see commercial commercial commercial real estate—about real estate—about real estate—about 60 trillion, and 60 trillion, and 60 trillion, and agricultural real estate—about agricultural real estate—about 50 50 50 trillion. Today trillion. Today trillion. Today we will focus we will focus we will focus more on the more on the more on the commercial sector commercial sector , but there is a certain gap affecting all of this , but there is a certain gap affecting all of this , but there is a certain gap affecting all of this real estate real estate real estate . This . This . This gap is gap is gap is because our because our because our financial statements, where financial statements, where financial statements, where we keep track of we keep track of we keep track of loans, loans, loans, insurance, and insurance, and insurance, and mortgages, are updated mortgages, are updated mortgages, are updated quarterly. But quarterly. But quarterly. But the actual underlying the actual underlying the actual underlying assets, i.e. the assets, i.e. the assets, i.e. the real estate on which real estate on which real estate on which they are based, are not they are based, are not they are based, are not updated updated updated quarterly.

quarterly. In fact, they are In fact, they are only updated every only updated every only updated every few years, perhaps few years, perhaps just before just before just before the creation of a the creation of a the creation of a financial financial financial instrument for that instrument for that instrument for that property. Or property. Or property. Or perhaps again, when perhaps again, when perhaps again, when a modification a modification a modification or a new financial or a new financial or a new financial instrument is needed—five instrument is needed—five instrument is needed—five years is a pretty years is a pretty years is a pretty realistic realistic realistic timeframe. But between timeframe. But between years zero and five, you don't actually years zero and five, you don't actually have any have any have any updates on the condition of updates on the condition of updates on the condition of the building or the building or the building or property. This property. This property. This means that while means that while means that while reporting reporting reporting is closed many is closed many is closed many times, there remains a “ times, there remains a “ black box” or black box” or black box” or data based data based data based only on photos only on photos only on photos and PDFs, and this is a and PDFs, and this is a and PDFs, and this is a real gap. And real gap. And real gap. And you can notice it you can notice it . According to a . According to a . According to a Kroll study, Kroll study, Kroll study, which included 1,500 which included 1,500 which included 1,500 real estate properties. real estate properties. real estate properties. In fact, 70% of buildings In fact, 70% of buildings In fact, 70% of buildings have insufficient have insufficient have insufficient insurance. Why insurance. Why insurance. Why exactly is that, I don't exactly is that, I don't exactly is that, I don't know for sure. The study did not know for sure. The study did not know for sure. The study did not provide an answer, but provide an answer, but provide an answer, but in my opinion the records are in my opinion the records are in my opinion the records are outdated and perhaps not outdated and perhaps not detailed enough. Therefore, detailed enough. Therefore, insurance is not insurance is not insurance is not clearly defined and does not clearly defined and does not clearly defined and does not fully fully fully meet the needs of meet the needs of meet the needs of real estate. This real estate. This real estate. This affects affects about $4 trillion in commercial mortgage loans in the US about $4 trillion in commercial mortgage loans in the US . And yes, each . And yes, each . And yes, each of them leans on a of them leans on a of them leans on a building. So building. So building. So the question is: what does it take the question is: what does it take the question is: what does it take to make a building to make a building to make a building as

as as queryable as an queryable as an queryable as an accounting ledger? accounting ledger? A ledger A ledger can give you can give you can give you an answer in an answer in an answer in milliseconds, but a milliseconds, but a milliseconds, but a building today building today building today only gives you an answer after a only gives you an answer after a only gives you an answer after a site visit, and site visit, and site visit, and even then—perhaps even then—perhaps even then—perhaps in the form of notes or in the form of notes or in the form of notes or PDFs, PDFs, PDFs, scattered and scattered and scattered and unclear, without a unified unclear, without a unified unclear, without a unified system. This is where system. This is where system. This is where the idea comes in, where the idea comes in, where the idea comes in, where every walk every walk every walk becomes a memory. It becomes a memory. It becomes a memory. It works like this: you simply works like this: you simply works like this: you simply take a ready-made take a ready-made take a ready-made sensor, walk around sensor, walk around sensor, walk around the room, and the room, and the room, and scan it. And you scan it. And you scan it. And you can see right can see right can see right there how it is there how it is there how it is created. That was me created. That was me created. That was me walking through the walking through the walking through the conference room, and conference room, and conference room, and this whole walk or this whole walk or this whole walk or scan took scan took scan took exactly the same amount of time as it exactly the same amount of time as it exactly the same amount of time as it takes to takes to takes to walk, and in a walk, and in a walk, and in a minute you have a minute you have a minute you have a scan ready. You are scan ready. You are scan ready. You are walking through the facility— walking through the facility— this can be done by this can be done by anyone, for example, a anyone, for example, a anyone, for example, a management company, management company, management company, etc., equipped with such a etc., equipped with such a etc., equipped with such a device. They device. They device. They create a map, and create a map, and create a map, and as they scan, as they scan, as they scan, all objects in the building all objects in the building all objects in the building are recognized and are recognized and are recognized and stored in the stored in the stored in the database, which is shown database, which is shown database, which is shown below. This is a graph below. This is a graph below. This is a graph database. So it database. So it database. So it has a semantic has a semantic has a semantic meaning, which means meaning, which means meaning, which means we can really we can really we can really understand space. And understand space. And understand space. And when we pass when we pass when we pass again, both again, both again, both walks walks walks are saved.

are saved. are saved. Let's say a walk on Let's say a walk on Let's say a walk on Monday and a Monday and a Monday and a walk on walk on walk on Monday next Monday next Monday next year or next year or next year or next quarter. They are now quarter. They are now quarter. They are now aligned on the aligned on the aligned on the timeline. So, we have timeline. So, we have timeline. So, we have space, we know what space, we know what space, we know what is in it, is in it, is in it, and we know the evolution of and we know the evolution of and we know the evolution of space every space every space every time we pass through time we pass through time we pass through and measure it. And and measure it. And and measure it. And all this is stored in the all this is stored in the all this is stored in the form of a graph. Graphs form of a graph. Graphs form of a graph. Graphs have a bunch of technical have a bunch of technical have a bunch of technical advantages, one of which is advantages, one of which is extreme extreme extreme flexibility in what flexibility in what flexibility in what information you want to information you want to information you want to collect and how to collect and how to collect and how to link it. Therefore, this link it. Therefore, this link it. Therefore, this can be can be can be hyper-personalized hyper-personalized hyper-personalized for each asset, for each asset, for each asset, for each property. for each property. Yes, that's right. So now, Yes, that's right. So now, what exactly is what exactly is what exactly is such a such a such a record supposed to answer? This is not a record supposed to answer? This is not a record supposed to answer? This is not a visualization issue, this is a visualization issue, this is a ledger issue . Do you really want . Do you really want . Do you really want to know what has changed in a to know what has changed in a to know what has changed in a facility or facility or facility or property? So, property? So, property? So, two walks through the same two walks through the same two walks through the same space compare space compare space compare object by object and object by object and object by object and environment by environment by environment by environment. You also environment. You also environment. You also want to know when this want to know when this want to know when this changed. Therefore, every changed. Therefore, every changed. Therefore, every observation observation observation contains and records contains and records contains and records where it comes from.

where it comes from. where it comes from. And you also want And you also want And you also want to know who needs to be to know who needs to be to know who needs to be notified about the notified about the notified about the information or changes information or changes information or changes that have occurred and that that have occurred and that that have occurred and that we have now recorded. we have now recorded. So when you So when you find something with find something with find something with evidence, like evidence, like evidence, like structural structural structural damage or damage or damage or maybe for maybe for fire insurance—that fire insurance—that the fire extinguishers the fire extinguishers the fire extinguishers are out of date, are out of date, are out of date, their expiration date has passed their expiration date has passed —then you need to —then you need to —then you need to know about it, get know about it, get know about it, get notified, and take notified, and take notified, and take action. Or maybe the action. Or maybe the action. Or maybe the insurance company insurance company insurance company will be able to know this and will be able to know this and will be able to know this and raise premiums raise premiums raise premiums based on based on based on how well the how well the how well the property is cared for. property is cared for. property is cared for. So, So, So, hyper-personalized hyper-personalized hyper-personalized insurance. Um, and this is what insurance. Um, and this is what insurance. Um, and this is what it it it actually looks like. So, this is actually looks like. So, this is actually looks like. So, this is just me walking just me walking just me walking through the kitchen, shot through the kitchen, shot through the kitchen, shot twice: once twice: once twice: once on the left, once on on the left, once on on the left, once on the right. And you see, the right. And you see, the right. And you see, you just walk you just walk you just walk through the room and through the room and through the room and immediately get a immediately get a immediately get a map. And um, when you map. And um, when you map. And um, when you walk through the same walk through the same walk through the same space, it's space, it's space, it's recognized as the recognized as the recognized as the same place, and you same place, and you same place, and you can map can map can map it between, um, the it between, um, the it between, um, the same space in same space in same space in time period A and time period A and time period A and time period B, and you have a time period B, and you have a timeline. And once timeline. And once you have a map, you can you have a map, you can you have a map, you can use it use it use it as an AI-ready asset as an AI-ready asset as an AI-ready asset , , , which means you which means you which means you can interact can interact can interact with it, talk to it, with it, talk to it, with it, talk to it, ask it questions.

ask it questions. ask it questions. For example, here I For example, here I For example, here I ask: "Where can I ask: "Where can I ask: "Where can I get warm?" And on get warm?" And on get warm?" And on the map, the answer the map, the answer the map, the answer is indicated by the radiator. is indicated by the radiator. is indicated by the radiator. Or, is there Or, is there Or, is there a glass or cup in the kitchen to a glass or cup in the kitchen to a glass or cup in the kitchen to drink from? She drink from? She drink from? She points you to the glasses points you to the glasses points you to the glasses and cups in the kitchen. and cups in the kitchen. Um, so this is very Um, so this is very powerful because powerful because powerful because it turns a map from it turns a map from it turns a map from pixels into something pixels into something pixels into something we can we can we can work with. Um, and now work with. Um, and now work with. Um, and now also change detection. also change detection. also change detection. So these were two So these were two So these were two passages that we passages that we passages that we made this kitchen made this kitchen made this kitchen or this space, and or this space, and or this space, and now we now we now we can really connect those can really connect those can really connect those two and ask, “What is the two and ask, “What is the two and ask, “What is the delta between them? What delta between them? What delta between them? What has changed in this has changed in this has changed in this environment? And in environment? And in environment? And in this case, um, those this case, um, those this case, um, those three chairs three chairs three chairs in the middle have been in the middle have been in the middle have been moved, and you moved, and you moved, and you see that see that see that by talking to by talking to by talking to the asset, to your the asset, to your the asset, to your data, you can data, you can data, you can actually determine the actually determine the actually determine the delta and get delta and get delta and get the original source to the the original source to the the original source to the actual record, actual record, actual record, so you have proof of so you have proof of so you have proof of the change. Um, so what does all the change. Um, so what does all the change. Um, so what does all this mean? This this mean? This this mean? This means you means you means you now have a building that is an now have a building that is an AI-ready data asset. So, AI-ready data asset. So, there's one record of what's there's one record of what's there's one record of what's there, and you can there, and you can there, and you can connect it to connect it to connect it to any any any subsequent task.

subsequent task. subsequent task. So, on the left we So, on the left we So, on the left we have this scan of the have this scan of the have this scan of the conference room that conference room that conference room that I took. And then you I took. And then you I took. And then you can track can track can track over time any over time any over time any necessary repairs, necessary repairs, maintenance, compliance checks, compliance checks, insurance, or insurance, or insurance, or maybe maybe maybe interior design changes, interior design changes, interior design changes, or maybe you or maybe you or maybe you even want to even want to even want to put put put robotics in there; and it's robotics in there; and it's robotics in there; and it's like a digital like a digital like a digital twin for twin for twin for use. So, use. So, use. So, let's check let's check let's check the insurance. Um, when the insurance. Um, when the insurance. Um, when you walk around the building you walk around the building you walk around the building at the beginning of the policy at the beginning of the policy , you have the initial , you have the initial , you have the initial condition of the property, and condition of the property, and condition of the property, and based on that, you based on that, you based on that, you can create a can create a can create a hyper-personalized hyper-personalized hyper-personalized insurance policy. And insurance policy. And insurance policy. And when you when you when you go through the inspection again at go through the inspection again at go through the inspection again at renewal, you renewal, you renewal, you see the difference in see the difference in see the difference in maintenance, etc., maintenance, etc., maintenance, etc., and the insurance company and the insurance company and the insurance company can actually can actually can actually assess the condition of assess the condition of assess the condition of the property against the the property against the the property against the relevant relevant relevant criteria under criteria under criteria under their policies and their policies and their policies and offer a very offer a very offer a very hyper-personalized hyper-personalized hyper-personalized insurance policy, which insurance policy, which insurance policy, which means an extremely means an extremely means an extremely efficient premium to efficient premium to efficient premium to insure such a insure such a insure such a property property property properly. Yes, and here are properly. Yes, and here are properly. Yes, and here are the numbers behind the numbers behind the numbers behind it. So the business case it. So the business case it. So the business case for insurance, for insurance, for insurance, for example, is for example, is for example, is that the insurance that the insurance that the insurance company pays for what it company pays for what it company pays for what it can can can check, and check, and check, and today insurers today insurers today insurers know that one in know that one in know that one in three commercial three commercial three commercial buildings are buildings are buildings are registered with the registered with the registered with the wrong wrong wrong building class. From 35 to building class. From 35 to building class. From 35 to 60% of buildings, in a 60% of buildings, in a 60% of buildings, in a specific case, specific case, specific case, for example, regarding for example, regarding for example, regarding hurricane premiums, hurricane premiums, hurricane premiums, can receive a can receive a can receive a discount of this discount of this discount of this percentage if

percentage if percentage if the building the building the building is certified. A is certified. A certified certified building means that building means that building means that it meets it meets it meets certain standards certain standards certain standards that can be verified that can be verified that can be verified using the facility's AI using the facility's AI digital asset digital asset digital asset . You . You . You also see that 73% of also see that 73% of insurers insurers insurers agree that they agree that they agree that they receive fewer receive fewer receive fewer insurance claims for insurance claims for insurance claims for hurricane damage hurricane damage hurricane damage if buildings have been if buildings have been if buildings have been inspected and inspected and inspected and certified. This is certified. This is certified. This is just one just one just one example of a example of a example of a certification that certification that certification that can be performed can be performed can be performed automatically automatically automatically using AI, in using AI, in using AI, in addition to many addition to many addition to many other other other in-building certifications that in-building certifications that in-building certifications that can be compliant with can be compliant with can be compliant with such programs. But such programs. But such programs. But yes, all three of them yes, all three of them yes, all three of them essentially depend on essentially depend on essentially depend on someone knowing someone knowing someone knowing the building and its current the building and its current the building and its current condition. Actually, that's all. condition. Actually, that's all. condition. Actually, that's all. That, in fact, was the whole That, in fact, was the whole That, in fact, was the whole conversation. I think the conversation. I think the conversation. I think the real estate sector is real estate sector is real estate sector is very big, it very big, it very big, it needs transparency, needs transparency, needs transparency, and there is a and there is a and there is a huge huge huge inefficiency today, which I inefficiency today, which I inefficiency today, which I think with think with think with new AI capabilities new AI capabilities new AI capabilities we can make we can make we can make much more transparent much more transparent much more transparent and create a truly and create a truly and create a truly new, new, new, hyper-personalized hyper-personalized hyper-personalized marketplace around marketplace around marketplace around assets. Thank you very much assets. Thank you very much assets. Thank you very much . If you want . If you want . If you want to learn more, to learn more, to learn more, please please please visit my visit my visit my website spranik.com, thank you website spranik.com, thank you website spranik.com, thank you for your attention.