Ivan Nokhrin is a Proptech industry veteran, who has worked close 15 years in the crossroads of Commercial Real Estate, Data & AI.
The commercial real estate industry is facing a shake-up. Yes, AI-driven demand for compute is fueling data center development growth which is supporting the CRE investment performance indicators for now, but...
Traditional ways of doing business relationship-driven deals, manual market analysis, and slow transaction processes will undoubtedly be challenged by AI-powered platforms that can analyze massive datasets, predict market trends, automate valuations, and even streamline negotiations.
It's evident that human expertise will evolve and CRE investors will be able to leverage AI and significantly grow AUM per employee figures.
⁉️But will you wait for a "ChatGPT for CRE" release and give up your data?
Or take action to future-proof your business? How do you imagine the use cases for AI in your CRE management business today?
⛔You don't want AI to aggregate your rent roll or pull valuable data from lease agreements and export it to Excel, do you?
✅You probably want AI to be able to spot market opportunities, produce insightful portfolio analysis with a HOLD/SELL recommendation, run a best-use analysis on a location, etc.
AI is going to be a commodity, you can make your own AI agents that will serve your business. But if you don't own your data, you can forget about sustainability of your business.
There is a proven way how to get there:
1️⃣ 🔒 Data Integrity
Get your own data platform to eliminate fragmented, inconsistent data spread across Excel files and legacy systems. AI is magic, but a worthy AI for CRE business relies on clean, structured data. Without data integrity, AI models produce unreliable insights.
2️⃣ 📜 Data Governance & Security
Invest in an API platform to ensure you have control over who and how interacts with sensitive business data.
3️⃣ ⚡ Data Autonomy
By integrating AI-ready APIs, CRE firms can automate workflows, seamlessly connect their professional software, but also create an autonomous digital storage of all the data your business relies on.
If you don't take ownership of your data, someone else will. Agree?
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