One of the main inhibitors of technology innovation in the real estate space has been lack of data transparency and availability, according to Josh Herrenkohl of FTI Consulting. That is rapidly changing, though, thanks in large part to a fundamental change in the way that companies gather data along with new technologies.
"There are new technologies with innovative ways to gather data, such as Compstak, which crowdsources market comparables data to drive transparency in a way that has not traditionally existed," says Herrenkohl, senior managing director and business transformation leader of real estate solutions practice at FTI Consulting.
Consistency of AI technology is also helping create better transparency for CRE technology. AI lets computers to analyze nearly infinite amounts of data, according to Herrenkohl, including data sets in different and inconsistent locations and formats.
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Kelsi Maree Borland
