AI impact on jobs in Commercial Real Estate

I have been keen to write a post on the advancement of Ai, as it’s not only been widely debated by global business leaders and heads of government, but it’s impact on the recruitment sector has been revolutionary. However, as a real estate recruitment firm, the impact of Ai on the real estate job market is of particular interest.

The starting point, is how has Ai impacted the commercial real estate sector so far, and what does the future look like.

The answer is that Ai is currently mainly impacting the gathering, processing and analysis of data, through the use of algorithms.

When looking at this in connection with the management of commercial property, its evident that Ai is enabling faster extraction of data, mainly in connection with the extraction of lease data, inspection data and energy usage. This is all been made possible through intuitive learning of Proptech.

The latest buzzword could therefore be Proptech Learning. The advancement of Ai will not only deliver faster data extraction but also process data to provide valuations, and assessments of required capital expenditure to both uphold value, but also to deliver net zero targets.

As Ai algorithms are further advanced, we are also likely to see more and more Ai driven analysis of data, to produce intuitive trends, statistics and forecasts on data relating to rents, voids and energy usage.   

As Ai is capable of handling larger amounts of data and therefore providing more diverse trends and statistics, it should enable surveyors to deliver more varied / better-informed advice to clients, rather than replacing them in the process.

As with the recruitment sector, the real estate industry is a people’s business, and the human touch is still pivotal – emotional intelligence, empathy / active listening and interpersonal skills will always be important.

Whilst AI is revolutionary / a game changer, the real estate industry relies on the human touch; in order to navigate and deliver client’s requirements; we just need to embrace the technological advancement of Ai.