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Top AI Trends in 2024: Practical Applications and Groundbreaking Advances AI is reshaping industries with trends that balance advanced capabilities and practical use. As we move deeper into fall and start to stare down the end of 2024's barrel, it's a good time to take stock of the trends we're seeing shape up this year. So, without further adieu, here are six of the more monumental trends.... 1. Widespread Use of Generative AI Tools like ChatGPT have become essential across industries, enhancing productivity in customer service, marketing, and HR. Companies are evolving workflows to integrate these capabilities, reshaping organizational dynamics. 2. The Rise of Agentic AI Agentic AI, which autonomously makes decisions, enables automation on a new scale but raises ethical challenges. Companies are implementing governance frameworks to balance accountability with automation. 3. Multi-Modal AI Advancements Multi-modal AI models understand and generate content across text, images, and audio. This enhances user experience and application versatility, especially in marketing and healthcare. 4. From Hype to Practicality Early excitement around generative AI has matured into practical adoption. Companies now focus on measurable ROI and are trialing AI applications for true productivity impact. 5. Federated Learning and Privacy-Preserving AI With data privacy a priority, federated learning enables secure AI model training across devices, crucial for finance and healthcare. Privacy-preserving AI is essential as industries embrace AI under data protection standards. 6. Expansion of Synthetic Data Synthetic data accelerates model training while bypassing privacy issues. For sectors like healthcare, synthetic data offers a scalable solution for innovation without data restrictions. AI in 2024 is about balancing new capabilities with practical, responsible applications, where companies can create real-world value, comply with data standards, and innovate responsibly. #AI, #Innovation, #FutureOfWork, #TechTrends

🚀 How Enterprises Should Approach AI Pilots: Stop Setting Yourself Up for Failure 🚀 Over the years, we've seen too many AI pilots crash and burn for the same reasons. Enterprises often approach these projects with enthusiasm but without a clear strategy. Here’s where things go wrong: Too Many Cooks in the Kitchen 👨💼👩💼: Involving too many stakeholders early on leads to slow decision-making and competing priorities. AI pilots thrive on agility. Start with a small, focused team that understands the problem and can act quickly. Involve others later, once you’ve got results to show. Misaligned Expectations of Success 🎯: AI isn’t magic. Success isn’t always about a flawless system from day one. The purpose of a pilot is to learn—about your data, about the technology, and about your operational capacity. Define what success really looks like before you begin. Not Letting the AI Do Its Job 🤖: AI needs autonomy to show its true potential. Too often, pilots are micromanaged by human intervention, which dilutes the results. Trust the process—test, learn, iterate. AI thrives on feedback loops. Not Having a Post-Pilot Plan 🛤️: Once your pilot is complete, what’s next? Too many companies stop at the proof of concept and don’t move into full-scale adoption. In fact, Gartner estimates 1/3 of all projects stall after POC. Make sure you have a clear path to scale if the pilot works. The bottom line? To make AI pilots successful, simplify, focus, and set realistic goals from the start. It’s about learning before scaling. #AI #AITransformation #AIPilots #EnterpriseAI #ProofOfConcept #Innovation #TechLeadership #AIFailure

Why do most CLM implementations fail, part Deux! 🚦 Lack of Strategic Direction: Without clear goals and measurable success metrics, many CLM projects fail to deliver the expected results. Define a roadmap from the beginning, and align the objectives of legal, procurement, and sales departments to ensure everyone is working toward the same outcomes. 🔄 Change Management Failures: Implementing a CLM system involves significant change across multiple departments. Resistance is natural if key stakeholders aren’t involved early on. Comprehensive training and change management efforts are critical to ensure long-term success and utilization. What challenges have you faced when rolling out new systems? Let’s discuss in the comments, or ping us to talk more! #CLM #ChangeManagement #LegalOps #ContractLifecycleManagement

Prospects routinely ask us why CLM implementations all seem to stall out or fail completely. Most commentators will offer up a multitude of reasons, but we believe they can most succinctly be categorized into three main buckets. This is the first of two posts to explain our "hot take". 🔑 Legacy Data Issues: One of the biggest reasons CLM implementations fail? Legacy contracts and data are often left behind in outdated systems. Without this key information, the full potential of a CLM system can be delayed for years. Don’t make this mistake! Ensure your legacy data is migrated from day one. 📝 Inadequate Clause Libraries: A solid CLM system should help automate repetitive drafting tasks with a comprehensive clause library. But failing to set this up during implementation can result in inefficiencies and inconsistencies. Create standardized, reusable contract language early on for long-term success. What are your thoughts on CLM implementations? Share your experience in the comments! #CLM #ContractManagement #LegalTech #DigitalTransformation #LegacyData

Bowtie - Your AI Partner in Real Estate Excellence🏢 In the dynamic world of commercial real estate, Bowtie stands out as the AI solution that brings clarity and organization to your data. By integrating with CRMs like Salesforce and property management systems such as Yardi, Bowtie ensures that intelligence is distributed across your organization, enhancing human capital and driving success. Ready to transform your data into actionable insights? Contact us today via Linkedin. #AI #CommercialRealEstate #DataSolutions #WorkflowOptimization #RealEstateInnovation 

Don’t Get Distracted by the Hype—Focus on Your Strategy! Generative AI is buzzing, and it's tempting to dive right in. But here’s the reality: Tech alone won’t solve your business challenges. Before you invest, ask yourself—how does this align with your core business objectives? Are you aiming to cut costs, enhance customer experience, or drive new revenue? At Bowtie, we focus on strategic alignment first, ensuring that AI is a powerful enabler of your goals, not just another shiny object. #AI #BusinessStrategy #TechTrends

In the world of commercial real estate, efficiency and precision are everything. Documents are the backbone of every transaction, but for too long, managing them has been a slow, manual, and costly process. Bottlenecks abound. At Bowtie, we’re not just tweaking the old systems – we’re revolutionizing the entire approach. 🔥 You’ve heard us talk about how we’re upending 10-15 years of traditional contract and file management (if not more). But what does that really mean for you? 🔍 Imagine an AI-powered platform that doesn’t just store your files but transforms them into strategic assets. Bowtie does just that by: 1️⃣ Automated Intelligence from Day One: No more waiting to organize files before adding value. Bowtie starts with the intelligence layer, structuring your data, revealing hidden insights, and codifying your historical practices immediately. 2️⃣ Tailored for Commercial Real Estate: Whether you’re managing leases, purchase agreements, or service contracts, Bowtie adapts to the specific needs of industrial, retail, and office asset classes, making file management and interrogation faster and more transparent than ever. 3️⃣ Seamless Integration: Already working with legacy paper? No problem. Bowtie integrates effortlessly, turning unstructured data into actionable insights without the need for a dedicated repository. 🚀 As we continue to upend the status quo, Bowtie is proving that documents don't have to be a nuisance-– let Bowtie turn them into a competitive advantage. Stay tuned for more insights on how we’re transforming the industry, one document at a time. Let's unleash the power of your documents together with Bowtie! #Bowtie #AIforRealEstate #ContractManagement #CommercialRealEstate #Innovation #PropTech

Bowtie Inc., a deep AI company helping commercial real estate firms codify institutional intelligence and structure information in large document repositories, is proud to announce that it has achieved SOC 2 Type II certification – the industry standard for organizations handling sensitive data. The certification was awarded after an independent audit by an external auditing firm. validating that Bowtie's security controls meet the SOC 2 criteria for security, availability, processing integrity, confidentiality, and privacy. Bowtie's platform empowers commercial real estate firms to streamline operations, seamlessly integrate systems, and optimize workflows to enhance decision-making, and boosts internal adoption and efficiency. SOC 2 certification is essential for demonstrating robust data security and compliance, building client trust, and gaining a competitive edge. Bowtie Inc. previously held SOC 2 Type 1 certification. Achieving SOC 2 Type 2 certification requires rigorous reviews of the company's policies, procedures, and technology to ensure comprehensive security measures. This certification reflects our ongoing commitment to safeguarding our customers' information.

📈 AI in Real Estate: Trends and Opportunities 📈 The commercial real estate industry is evolving rapidly, and AI is at the forefront of this transformation. From streamlining legal processes to enhancing transparency in dealmaking, AI offers numerous benefits. Current trends we're seeing: * Increased adoption of AI for lease abstraction and negotiation. * Growing importance of data security and SOC-2 compliance. * Industrial real estate booming due to e-commerce growth. Stay ahead of the curve and explore how AI can revolutionize your real estate operations. Follow us for more insights and updates! #AI #CommercialRealEstate #IndustryTrends #Innovation #Ecommerce

 🚀 **Introducing Our AI-Powered Contract Management Solution!** We are excited to announce the launch of our cutting-edge AI solution designed specifically for the commercial real estate industry. Whether you're in industrial, retail, or office asset classes, our platform streamlines leasing transactions, abstracts leases, drafts LOIs, and more. ✨  **Key Benefits:** - Built on your data, eliminating AI hallucinations.- Quick uptime with no new systems to learn. - SOC-2 Type II compliant, ensuring top-notch data security.- Flawless retrieval, so your data is always at your fingertips. - Enhances knowledge workers, making them faster and smarter.Transform the way you manage contracts with our AI solution. Contact us to learn more! 👀 #AI #RealEstate #CommercialRealEstate #ContractManagement #TechInnovation