CPE Executive Council: Ways to Implement AI into Your Business
AI is everywhere nowadays. But do you know how you can incorporate it into your commercial real estate business? The CPE Executive Council shares how they’ve started using it.
Model Behavior
We are the most advanced users of data science (i.e., artificial intelligence, machine learning) in the CRE investment industry. We have a deep, sophisticated data science team that solely focuses on CRE. We have built the most accurate CRE forecast models in the world, using unfathomable quantities of variables and data points, leveraging incredible computing power. We combine the models with rigorous economic research and analysis to make sure their findings are valid and not spurious. We have been refining these models for the last five years or so and have been using them to great effect in order to find opportunities that others overlook and to avoid the pitfalls that would otherwise be too seductive to turn down. We have organizational buy in and we are constantly refining and improving them, pushing the envelope. And this is just the beginning. Data science is like a train leaving the station. If you’re not on this train, you’re going to find yourself underneath it. —Ryan Severino, Chief Economist & Head of U.S. Research, BGO
In the Cloud
Artificial Intelligence is already embedded in most if not all of Avison Young’s cloud-based applications supporting the company and its professionals. Avison Young is 100 percent cloud based and its Avant system is utilizing AI for data, analytics and predictive analytics. We are testing LLM (Large Language Models) for all means of service delivery and support. —Mark Rose, CEO, Avison Young
Interested in joining the CPE Executive Council and being featured in future articles? Email Jessica Fiur.
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