It is an exciting time for the real estate industry. While the benefits of artificial intelligence and machine learning are well known in many industries, CRE has traditionally been a step backward for digital transformation. According to the Forbes Real Estate Council, everything will change as traditional business models are used for the latest innovations and smart technologies.
“Commercial real estate players who are open to new approaches and emerge with the latest disruptive technologies must remain market leaders. Innovation often leads to the right results when you’re ready to embrace it. Otherwise, you will likely lag. “
These disruptive technologies are diverse and include real estate agents using software to offer 3D introductory tours to potential tenants or chatbots who can discuss the property directly with a tenant. In particular, the use of data analytics and machine learning is changing the way many CRE companies operate, allowing those involved to act with certainty rather than speculation.