Real Estate

Generative AI can change real estate, but the industry must change to reap the benefits

Generative AI (gen AI) is maturing at an auspicious moment for the real estate industry. Investors have mountains of both proprietary and third-party data about properties, communities, tenants, and the market itself. This information can be used to customize existing gen AI tools so that they can perform real estate–specific tasks, such as identifying opportunities for investors at lightning speed, revolutionizing building and interior design, creating marketing materials, and facilitating customer journeys while opening up new revenue streams.

Although gen AI has only recently captured the public’s imagination, AI has been fundamentally changing the way the world does business for decades. This more familiar version of AI—also known as analytical AI—is goal oriented and focused on activities such as predicting values for a future forecast or assigning categories to segment customers. It is already embedded in parts of the business world: AI-assisted forecasts, for example, have altered how investment professionals

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