Why Artificial Intelligence Has Become Invaluable for Developers

While it might sound a bit reductive, the essential skill of real estate development can often be boiled down to one word: decisions. A project's developer might have more than 200 vendors to communicate with regarding pricing, timing, materials and a slew of other factors, juggling spreadsheets and details that could throw a project off its timeline and budget if this information isn't easy to source and reference when making project decisions. Keeping track of this multitude is the first step on the road to success for any developer. With the evolution of modern technology -- specifically, artificial intelligence (AI) -- developers are finding that the drudgery of tracking and inputting thousands of essential details is going the way of the rotary phone. The adoption of AI by the commercial real estate (CRE) industry was greatly accelerated by the uncertainty caused by the COVID-19 pandemic, as commercial real estate stakeholders embraced AI's ability to bring solutions into a clearer view.