Couldn't agree more, Stuart Appley! The industry's shift towards AI is picking up speed, and we're thrilled to be at the forefront of this transformation.
Startup Advisor & Board Member | CIO/CTO | AI and Digital Transformation Leader | Innovation Leadership
Recapping last week's Realcomm Events, my biggest takeaway was the amount of movement we're FINALLY seeing in leveraging #AI across the #CRE sector. As a co-chair of the BuildingsAI portion of the event, I was already setup to push the AI agenda but I was truly amazed at how far the industry has come in the last 18 months in at least "trying". I say “trying” as the industry is still far behind others in digitizing workflows and adopting transformational technologies, but I'm finally seeing a mindset shift that wasn't there just a few years ago. 👏 👏 It's clear that GenAI has made these capabilities much more tangible to the masses and the use cases have exploded. Realcomm’s AI Showcase was new to the event and it was very successfull in highlighting where firms are focusing their attention with AI. Some are all-in on Microsoft's CoPilot and Azure OpenAI custom solutions, while others are embracing the various point solutions that focus on the numerous friction points in the industry. Many are also finally addressing the whole workflow as fixing one step doesn't always solve the problem. Many of these solutions aren't new but they're finally getting the attention they deserve. 🎉 Here are just a few highlights of the AI Showcase: - Lease and Document Abstraction. This has always been the poster child problem in the industry as it's heavily document-centric, but GenAI and recent ML advancements have made the quality better, and at a more reasonable cost (and faster time to market). Prophia is one in particular that has gotten a lot of buzz (as has Document Crunch in the Construction vertical and PRODA LTD for rent rolls), but others are jumping in as documents (OM’s, LOI’s, contracts, loan documents, etc..) are embedded in almost every corner of the industry. - Tenant and employee engagement with chatbots and virtual agents was a big focus for many in ways that improve the experience and reduce costs. Many are using Azure AI services or CoPilots in some aspect for this, though PremiseHQ SaaS Inc. and Nantum AI were two products that were showcased in various ways. Whether it’s in a commercial or multi-family building, there are dozens of customer and employee facing processes that are ripe for improvement. - ComputerVision and similar forms of AI were highlighted with solutions that address occupancy, visitor security, project delays, risk and compliance, building operations and accelerated design across all verticals. Again, not new technology but there is more acceptance today. Buildots, qbiq , Occuspace, BuzzzTech AVUITY, and Visitt were just a few highlighted at the event. Congrats to Jim Young, Howard Berger, Lisa Woods, Sarah Bemporad, Nancy Stone, Janice Young , Cheri Parr and the whole Realcomm team and many thanks to Sunder Pappu, Joseph M., Ajoy B. and Gary Bailey for their collaboration. It was also great to see so many friends and I look forward to great things ahead in the industry on all things AI! 🚀 🚀
