Q
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How is it possible that PropTech predicts the next black swan events or the next shift in our economy ?
I
think in a period of about 18 months we have been talking about two black swan events that have engulfed our economy , and I think the pace at which things are changing , there is a possibility that another one , that we are not even aware of is around the corner .
A
As MRI , the way we look at it , we don ’ t think Artificial intelligence and machinery will ever take away what humans can do . I also don ’ t think that in a short time horizon there is a possibility of these tech solutions being able to predict outlier events like these . However , what AI does , and the way we do it is to say ‘ let ’ s bring AI first , to take away most of the mundane that our analysts and human capital are doing at the moment .
For instance , when we surveying communities , you would have many qualified people doing things like data capturing , running reports , crunching numbers , all to identify trends , look at
4 AUG 2021 SA Real Estate Investor Magazine
MARK FAIRWEATHER MRI Software
those trends and design their analysis . So , in essence , the shift is that we want to free up expensive human resource , to do the analysing and consume information rather than raw data .
What we are seeing currently is things like being able to run through all your leases , run through your tenants ’ payment history and the identification of late payment trends and what do payment indicators look like while working with your teams to pick up what those key data points are , so that you alleviate the pressure on human capital .