CPE Executive Council: How Much Should CRE Professionals Be Using AI?
AI has a lot of uses. As it gets more sophisticated, it has permeated many areas of the industry. However, AI of course should not replace the human touch. For commercial real estate professionals, what should you use AI for, and how much should you be using it? The CPE Executive Council shares their insights.
Wave of the Future
AI is embedded in every one of the 30+ applications Avison Young supports its clients and people with. We have also built proprietary AI based applications where data, analytics, algorithms and productivity are the focus. AI and Generative AI delivers better traditional day-to-day services and could be transformative in the future. —Mark Rose, CEO, Avison Young
Upping the Ante
I am utilizing it quite a great deal—more and more over time. We have an incredibly sophisticated data science operation at BGO, possibly the most sophisticated in the CRE investment industry. We are increasingly using it to forecast and rank markets, choose development sites, help with portfolio allocation, and assist asset managers (among other things). We continue to invest in staff and capabilities so I’d expect it to become an even more important part of our investment process and my job. —Ryan Severino, Chief Economist & Head of U.S. Research, BGO
Keeping it Traditional
To be 100 percent honest, I don’t us AI at all. As a public relations professional that solely works with the commercial and multifamily real estate industries, I want every email, text, press release, pitch, byline article, etc. that I sent to clients, reporters and colleagues to come from my heart and to be authentic. Not using AI is what is best for me in my role. —Dave Ebeling, Owner, Ebeling Communications
A Creative Partner
I use AI tools as a creative partner in my role as a marketing professional in commercial real estate. These tools are invaluable for sparking ideas, brainstorming content angles, getting over writer’s block and streamlining initial drafts. They help me explore different perspectives and save time by eliminating creative bottlenecks. However, human oversight remains essential. I carefully review, refine and customize every piece of content I produce to align with our unique strategy and voice. For me, AI isn’t about replacing creativity. It’s about enhancing it. —Lanie Beck, Senior Director, Content & Marketing Research, Northmarq
Interested in joining the CPE Executive Council and being featured in future articles? Email Jessica Fiur.
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