June 6, 2023
By Megan Fink, Director of Global Marketing and Communications
Finding the perfect property has historically been a time-intensive charge. AI-powered platforms, however, are streamlining the process with intelligent property searches. Algorithms are analyzing large databases of property listings, historical data, market trends and user preferences from a multitude of sources. These tools then provide targeted property suggestions, saving time and energy while increasing the chance of making the ideal match. Since AI is really good at sifting through massive amounts of data to uncover insights, commercial real estate companies in large markets are leveraging predictive analytics for decision-making.
Another value of AI is assessing risks associated with investments. Algorithms look at market conditions, financial indicators, regulatory changes and potential disruptions. Professionals also can use these tools to detect fraud by analyzing volumes of transactional data. Suspicious activity or anomalies are flagged for further human review to determine if there is indeed an issue to remedy.
Tapping AI tools in commercial real estate can free up human resources to focus on more complex tasks that chatbots or virtual agents can’t yet learn, even with their natural language processing abilities. AI will continue to disrupt all industries as this technology advances. If we can leverage the benefits of AI to improve the customer’s experience, mitigate risk and make better decisions, professionals will gain a competitive advantage in a future market.
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