Using data, AI, and cloud to transform real estate

While developing a foundational strategy for transformation that is based on enabling the core business is key, advanced technologies like AI and machine learning are powerful tools that can unlock efficiencies across the entire real estate lifecycle, Davé says. AI/ML are incredibly powerful tools to become data-driven from analytics tools that can predict asset failures and market movements to infusing efficiencies across operations. "There are new and different ways in which real estate is viewed, transacted, managed, and all of that gets enabled through data and technology," says Davé. Beyond operational improvements, advanced and smart technologies can also help reduce emissions. According to a 2019 International Energy Agency global status report, the real estate industry contributed 39% of global carbon emissions attributed to both construction and the life cycle of the asset.