Machine Learning (AI) in CRE
I was wondering if anybody sees artificial intelligence playing a role in commercial real estate from an asset management or a development perspective currently, or in the future?  If so, what areas specifically?
[{"id": "ftrom6w", "text": "I've seen it for web scraping and general data gathering for research roles which could tie into the market research side or AM/dev, but I don't think it's going to become a prominent tool outside of specialized research roles.", "replies": [], "depth": 1}, {"id": "ftrr39d", "text": "I think you\u2019ll start to see it the analyst role in about 40 years. Bankers and brokers will become obsolete. Westworld did a great job fantasizing it. When Dolores would touch her eat and say \u201cnegotiate a rate\u201d \u201cI need a room\u201d\n\nIt will certainly make filling in forms super easy", "replies": [], "depth": 1}, {"id": "fukpf19", "text": "Building mathematical models and data structure is where it all starts. So many use cases but you have to pick one and solve the problem. Here's an example of what we built after 4 years of R&amp;D and building consistently performing algorithms for parsing and structuring rent roll and income statement documents from any format into usable analytics and instant underwriting pre-screening/asset management spreadsheet and models: [https://www.loom.com/share/2d54402263774b1b96a161e830b49e6a](https://www.loom.com/share/2d54402263774b1b96a161e830b49e6a)", "replies": [{"id": "ful7kc4", "text": "How does this compare to RedIQ", "replies": [{"id": "fulntdq", "text": "just a better technology :)", "replies": [], "depth": 3}], "depth": 2}, {"id": "fumz5xx", "text": "Very cool!", "replies": [], "depth": 2}, {"id": "fv70avw", "text": "What\u2019s fukin stupid is that one page is too dumb of a software company to be able to share dynamic and clean rent roll reports easily. They already have the data, why can\u2019t they do better formatting?", "replies": [], "depth": 2}], "depth": 1}, {"id": "fv11pld", "text": "Anyone actually working on this won't comment with anything substantial unless they want to sell you their product and anyone not working on it will comment we won't see it for 50 years because they can't see it.\n\nBiggest problem with AI/ML in any sort of PE space is lack of data. Your limited to the type of analysis you can do because there are too many dark transactions (a lot of data is private) and limited data consolidation for public data.\n\nSo yeah, step 1 data mine and web scrape to create proprietary dbs to then see if you even have enough data to run any models on.\n\nYou will see it first pop up in research, credit, property management and portfolio/asset management. Ultimately the economics of it suggest SAAS products rather than proprietary software of a shop.\n\nYardi and RealPage already incorporate AI into their property management and analytic packages.\n\nDEV will be hard to incorporate it because of the data limit issue and cost to develop/implement.", "replies": [], "depth": 1}, {"id": "fv5p93p", "text": "Analyzing demographics for supply squeeze markets", "replies": [], "depth": 1}]