The real estate sector should move faster on AI adoption, according to CBRE in its report, “What are the implications of AI for real estate?”, which explores the use of generative AI in business, and the significant value real estate firms can obtain from embracing new technology.
While the launch of generative AI has sparked fierce debate globally, few businesses, including those in the real estate sector, are yet to fully embrace AI use. However, with a $110 billion to $180 billion value for potential for the real estate industry, firms must move faster to embed AI into their business functions.
Real estate is a data-driven industry that can derive enormous value from generative AI. By introducing AI at all stages of the real estate lifecycle, stakeholders including investors, developers and operators can build more efficient, sustainable operations. This will enhance asset values, enable smarter investment decisions and improve tenant experience.
CBRE’s
