ARTIFICIAL INTELLIGENCE
The benefits of AI in the commercial property sector He explains that AIpowered systems can be used to analyse large amounts of data on property prices , rental rates , and market trends to help predict future real estate values . “ This empowers us to make informed decisions and allows clients to better manage and optimise their commercial real estate portfolio , which is good news for the industry at large .” used to automate routine tasks such as responding to tenant enquiries , document generation , making payments and scheduling maintenance .”
• Automating energy management : “ AI can be integrated into a property ’ s automation systems for seamless control of lighting and temperature control through standard language demands , allowing for reducedcosts and a lowered carbon footprint .”
Other potential uses of AI tools in commercial property include :
• Leasing : “ One of the key areas of a commercial real estate business is centered around leasing management . Here , AI can assist by answering FAQs , scheduling tours , and applying for tenant leases . Accurate and human-sounding chatbots provide prospective tenants with quick , easily accessible information to speed up the leasing process .”
• Property management : “ To improve property management efficiencies , AI tools can be
88 FEB 2023 SA Real Estate Investor Magazine