Daniel Herscovici, Partner, Edison Partners shares his insights on the energy management in the connected home ahead of Parks Associates' CONNECTIONS in-person conference.

Dan's two-decade journey through Fortune 50 giants reflects his passion for founding, building, and growing innovative businesses within larger ecosystems. As an investor and Partner at Edison since 2018, Dan brings his expertise to growth-stage tech companies. He sources deals and leads investments with companies like Anonos, MacroFab, Recycle Track Systems, and RapidDeploy. Dan prioritizes building teams with grit, adept at fostering collaboration and consumer listening that achieves breakthrough results.

An entrepreneur at heart, he's led internal ventures in consumer technology and services. Dan holds four patents, and was the CEO and co-founder of Xfinity Home. Notably at Comcast, he launched Xfinity WiFi, recognized for fundamentally transforming and democratizing consumer connectivity. Dan is a proud child of Romanian immigrants whose sacrifices provided the foundation for his success. He holds degrees in Mechanical Engineering from Boston University, an MS from Drexel University, and an MBA from Wharton.

Daniel will be sharing more insights at CONNECTIONS on May 7, 2024 at 1:30 PM in the panel "The Future of Connected Homes and the Expanding Markets." Join us for the 28th annual event here!

Looking ahead, what projects or developments in connected living are you particularly excited about this year, and why?

I'm particularly excited about the convergence of accuracy and and economics for passive home monitoring using wireless signals. Companies like Origin Wireless, Ubeity, Cherish and researchers at Carnegie Melon and others are making strides here. Detecting presence, movement, and the state of people in the home unlocks immense potential for enhancing connected living, security, smart home and other use cases. Whether it's through Wi-Fi, radar, or proprietary wireless technologies, installing sensors in homes can provide insights into occupancy, alarms, movement patterns, and even health indicators like urinary tract infections or mental health status. These developments not only offer security and comfort in multigenerational homes but also hold promise for revolutionizing healthcare monitoring and the potential to contribute to more efficient energy usage and climate benefits by optimizing home heating, cooling, and lighting based on occupancy patterns.

And, personally, I'm excited to be able to walk into a room and have the lights shift to exactly the temperature I prefer.
 

What strategies do you recommend for businesses to navigate the complexities of the connected home market and stay ahead of the competition?

To navigate the complexities of the connected home market and gain leverage over market share, businesses should prioritize supporting a unified platform and providing access to professional installation and ongoing support. While a plethora of devices and point solutions flood the market, the real value lies in offering well-designed platforms that seamlessly integrate these products into a singular interface. Further, by providing install and ongoing support, companies can dramatically reduce return rates and increase interaction with devices so that customers get the most out of their connected home experience. In a market where consumers increasingly prioritize convenience and reliability, businesses that offer robust ongoing support will have a significant advantage. By fostering trust and loyalty through continuous assistance, companies can establish themselves as leaders in the connected home space, ultimately driving greater market share and long-term success.
 

Reflecting on your career journey, what has been a standout moment or achievement that you're especially proud of?

Reflecting on my career journey, one standout moment that I'm especially proud of is creating Xfinity Wi-Fi and recognizing the need for  Wi-Fi hotspots. I saw Wi-Fi not just as an optional  convenience but as a fundamental necessity for innovation and equity across communities. This realization drove our team to advocate for the expansion of WiFi infrastructure, understanding that it would become a de facto need for individuals and communities alike.

Moreover, access to Wi-Fi has propelled innovation for the home in remarkable ways. The ability to ubiquitously connect devices unlocked the mobile internet and eventually unlocked the concept of smart homes. Today, Wi-Fi is an expected resource in the home and on the go. Witnessing the transformative impact of Wi-Fi on bridging digital divides, enhancing connectivity, and fostering innovation has been immensely rewarding. It underscores the importance of recognizing technology not only as a tool for convenience but also as a driver of connected home and environmental change.

Continue the conversation with David and other industry leaders during CONNECTIONS: The Premier Smart Home Conference on May 7-9, 2024, in Dallas, TX. Don’t miss insights and business forecasting on the adoption of technology including broadband, smart home, security, connected health, energy, and home automation. Explore the event agenda and register at www.connectionsus.com!