Real estate must get involved in Artificial Intelligence to make a difference in sector
Real estate experts must actively engage in the development of Artificial Intelligence if it is to make a difference to the industry. That was the outcome of the Expert Table organized by OSRE in collaboration with BLOXS Software at the PROVADA Future Now plaza, on the impact of Artificial Intelligence on the real estate transaction and property management. At the table were Vesteda, IC-Netherlands, AMfield Assetmanagement and Ausems Vastgoed.
Impact of AI on real estate processes
At the Expert Table at the Future Now plaza, software developers and real estate organizations interacted to see what impact Artificial Intelligence (AI) can have on the industry and what it will take to get there. AI technology is going to significantly change the following processes, according to the experts:
- Lead Scoring
- Lead Guidance & Customer Service
Approvals and selection (the perfect tenant) - Pricing
- Value predictions
- Appraisals
Conditions for embracing Artificial Intelligence
The expert table unanimously agreed that the real estate industry is ready to embrace AI. However, to start implementing AI properly, a basic level of digitization within the organizations is needed. The experts see that several organizations are now laying that software foundation.
Challenges
The challenge, however, is in the willingness of the real estate industry to work together. Many, often larger and established, real estate players are now often working on islands rather than bringing together the expertise to collectively devise valuable solutions that benefit the entire industry.
Co-creation to make a difference
The experts call on the industry to start co-creating with software developers, real estate experts and communication parties so that Artificial Intelligence can make a difference in the industry.
The Expert Table
The Expert Table was an initiative of proptech organizations OSRE and BLOXS, both of which are developing Artificial Intelligence in the field of tenant qualification and implementing AI to start predicting property valuations…
Experts
We thank OSRE Housing Files for hosting the expert table and Jurjen Thomas, Sybren van Putten, Dick Ausems MRICS, Moreno Monsanto, Jolbert ten Napel and René Jansen for their valuable input.
Source: Karlijn van Gageldonk, Osre HousingDossier
