Generative AI is transforming the real estate industry in a host of ways, revolutionizing property operations, improving resident experiences, and enabling more informed decision-making. But its effectiveness depends heavily on the quality of the data behind it.
At RET Ventures’ most recent “Multifamily Kickoff Summit” at the annual Blueprint event in Las Vegas, RET Vice President Jaymie Fung Bingham moderated a panel on “AI’s Impact on the Multifamily Sector” that focused on data quality and AI more broadly.
In a conversation with Stephanie Gonzalez, vice president of Innovation at Venterra Realty; Ardalan Khosrowpour, CEO and founder of OnsiteIQ; and Russell Franks, president and COO of Predict AP, Jaymie discussed the current and future state of AI as it relates to the multifamily industry. Specifically, the panelists delved into the various data challenges in evaluating AI technology (i.e. including data quality and integration), educating employees and customers regarding the implementation and capabilities of AI, as well as the primary factors that drive multifamily owners and developers to adopt new technologies. (In most cases, users anticipate — and enjoy — significant ROI from AI deployment.)
The panelists also weighed in on the overall value proposition of AI, which benefits not only executives but property staff. Through automation, AI-powered technologies can improve the management team’s efficiency as well as employee and resident experience, improving nearly every aspect of real estate in the process.
Watch the full session below: