However, the implementation of AI also presents challenges such as contextual understanding, data validation issues, and reliance on historical data. Despite these, the combination of human expertise and AI is seen as the best way forward for the commercial real estate sector. Over the next five years, companies that embrace AI and combine it with human expertise are expected to be the next-generation winners in the commercial real estate sector.
Key takeaways:
- Artificial intelligence (AI) can significantly disrupt and advance the commercial real estate sector, providing more accurate property valuations and market trend analyses.
- AI can be applied to commercial real estate in various ways, including improved data analysis for better investing potential, streamlined property management, improved personalized experiences, and better risk mitigation.
- Despite the benefits, implementing AI in real estate also comes with challenges such as contextual understanding, data validation issues, and reliance on historical data.
- The future of commercial real estate will likely be transformed by AI, with the most successful companies being those that combine human expertise with AI capabilities.