AI in Corporate Real Estate: The now, the next and the possible

India, 9th July 2024: Generative AI is set to drive significant opportunities for the Asia Pacific corporate real estate sector in the years ahead, according to a new report from global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI).

The report, AI in Corporate Real Estate: the now, the next and the possible, found the flourishing generative AI market in APAC has untapped potential for achieving new levels of productivity, creativity, and efficiency in the CRE sector.

“The alliance between human capabilities and technology is an evolving one. The adoption of the right tools and technologies have facilitated the accomplishment of desired outcomes faster and with higher efficiency. Artificial Intelligence has made its way into the commercial real estate sector and is finding its footing befittingly. We will integrate these tools and platforms into our processes to gain comprehensive market insights that will make for better strategies.”, says Arpit Mehrotra, Managing Director, Office Services, Colliers India.

According to Colliers’ report, AI’s potential impact on service delivery in the following key areas:

· Workplace Advisory: Automated algorithms to generate different occupancy and 3D space options.

· Lease Administration: Leveraging OCR AI technology to streamline management processes.

· Portfolio Strategy: Predictive analytics to continuously seek to optimize portfolios.

· Facility Management: Anticipatory building maintenance and automated equipment notifications.

· Project Management: Recommendations for lowest cost and optimal resource allocation.

· Transaction Management: Self-guided survey of location options supported by automated workflows.

· Location Intelligence: Proactively search for new and emerging talent pools and locations.

· Supply Chain Solutions: Predict real-time adjustments to the demand forecast or inventory requirements.

“The report elaborates on key service areas that are being revolutionized at Colliers with AI, including project management, facilities management and advisory services. New technologies are enabling us to navigate larger complexities and cater to a wider audience. We are leveraging tools like Optical Character Recognition, Machine Learning, and Predictive Analytics, among others, to craft client solutions that optimize resources and maximize value.”, adds Mehrotra.

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