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Why You Should Learn More About Artificial Intelligence

By staying informed on this technology, property managers can bring ideal applications into their organization that will increase their own contributions as well as the revenue and efficiency of their organizations, Yardi's Matt Eggers tells GlobeSt.com.

By Carrie Rossenfeld | IREM | Updated on October 04, 2017
Eggers: “Artificial intelligence is likely to impact the economy as significantly as the industrial revolution.”

CHICAGO—By staying informed on artificial intelligence technology, property managers can bring ideal applications into their organization that will increase their own contributions as well as the revenue and efficiency of their organizations, Yardi Energy VP Matt Eggers tells GlobeSt.com. Eggers will be leading a panel session on AI during the IREM Global Summit here Oct. 10-12.

Artificial intelligence is not something to be feared for taking away human jobs, but rather to be understood and used to advance our own uniquely human abilities in the CRE realm. As we reported in June, Jes Sherborne, chief technology officer of Truss, told GlobeSt.com, “AI is likely to increase the number of jobs in the CRE space. Just look what happened with banks. When ATMs became common, many people thought it would be the end for bank tellers. But that isn’t what happened—ATMs are everywhere, and the US has more bank tellers than ever before.”

Sherbourne added, “I believe that AI technology will improve the CRE industry and solve pain points that have existed for decades, without taking away jobs. Specifically, AI technology will ease logistics and improve transparency. For example, it will be easier to share relevant information and set up tours so that brokers can focus on providing the expert perspective and counsel that clients value. While AI will improve several aspects of CRE, brokers will not be replaced. Human interaction and personal relationships will continue to be a critical component of commercial real estate.”

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