Artificial intelligence has become the new great hype in technology, a position that different highly promoted advances in computers, data, and communications have held over the decades. The basic computer itself was once the promise of the future.

And it ultimately fulfilled the role, although like all technologies it takes significant amounts of time for capabilities to progress enough and for people to understand them and the novel capabilities they bring to industries.

When it comes to commercial real estate, according to new report by PwC and the Urban Land Institute, AI in CRE has been far from the pictures painted by vendors and consultants. "Despite the hype and popular attention on artificial intelligence, actual CRE uses appear to be limited and most mundane to date," they wrote. These uses currently include drafting and editing content, like pitch decks and memos.