What Happens When AI Meets Institutional Real Estate Investing?

I was honored to be invited to speak at the recent NCREIF Spring Conference 2024 in Phoenix, AZ. It was an amazing opportunity to network with the community and engage in great discussions about the immense value generative AI offers and how and when it may begin to impact institutional real estate investing. I was thrilled to sit on a lively panel that explored how AI can create efficiencies to advance accounting and performance tools through business intelligence, and delved into how firms can determine when AI is a good fit. Here are some key takeaways from our panel:

• Understand your options: Many small and large firms are still in the process of understanding where AI can fit in their organization and evaluating the various AI solutions available to them. It was clear from attendees that there is a significant opportunity for companies to explore and leverage AI technologies to enhance their operations and decision-making processes.
• Don’t let cost concerns derail you: Contrary to popular belief, the panel highlighted that AI implementation is not as costly as feared. Real estate investment professionals should not be deterred by financial constraints as they consider how to integrate AI solutions into their workflows.
• You can overcome data impediments: Members of the panel cautioned against letting data obstacles hinder AI adoption. They stressed that AI is adaptable to all types of data infrastructures (both structured and unstructured data), and organizations should not allow data challenges to impede their AI progress.  
• Real estate investment managers are sitting on a trove of data – and many have not mobilized it: The amount of unstructured data in the real estate sector is immense – and immensely valuable – and the panel reviewed how AI can play a pivotal role in consolidating and analyzing this data. By harnessing AI capabilities, real estate professionals can streamline data management processes and derive valuable insights to drive strategic decision-making.

Generative AI is poised to have a transformative impact on institutional real estate investing. Now is the ideal time for firms to identify the right partner who can help them navigate the complexities of AI integration, identify their AI use cases, plan their implementation, and define how they will use AI at work to drive efficiencies, enhance productivity and seamlessly integrate their data and applications.

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Want to learn more about how BlueFlame can help you deploy generative AI to tame your unstructured data, maximize your technology investments and meet your unique workflow needs? Request a demo today to see how we're making gen AI work for institutional real estate investing.

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