TECHNOLOGY
The limitations of AI
While a firm believer that AI-powered tools have the potential to keep the commercial real estate sector on the forefront of innovation , Jack emphasises that this technology is not without its limitations .
“ AI systems are excellent at performing specific , repetitive tasks , but they lack the crucial human understanding
required to identify the purpose of these tasks or the larger context they fall into ,” he says . “ This can lead to it making mistakes when the data is incomplete - something a human would pick up on and work around , which is why human perspective is always needed .”
Ultimately , Jack believes that an AIsmart workforce of skilled and forwardthinking real estate professionals armed with AI-powered tools is the combination needed to move the industry forward . “ Companies that embrace rather than fear these tools will come out on top ,” he concludes .
John Jack CEO Galetti Corporate Real Estate
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SA Real Estate Investor Magazine FEB 2023 89