Different Ways Proptech Can Drive An Economic Recovery - Facility Executive
The current market is particularly challenging: organizations are facing the combined pressures of inflation, increased sales cycles, global conflicts, and reduced investments. Executives are looking at the workplace as a critical lever to adapt to these headwinds. At the same time, many executives are looking out at empty offices, with post-pandemic remote or hybrid work policies allowing employees to come in once or twice per week—if at all.
Businesses will continue to face tough decisions throughout 2023. But by taking advantage of technology and building data insights with these four strategies, facilities executives can help drive a long-term economic recovery:
Optimizing space utilization
Facilitating effective workflows
Driving energy savings
Creating a more productive and comfortable workplace
Generative AI is building the foundation of proptech’s next wave - TechCrunch
AI or artificial intelligence, 2022 was a year of breakthroughs. Riding on the euphoria generated by these technological developments, about $49 billion in venture capital was invested in AI in 2022 — 40% more than a year earlier, per CB Insights.
Yet, there has been little conversation about how AI will play a growing role in real estate, a more than $50 trillion asset class, and one of the key drivers of the global economy. We believe this represents a significant opportunity for real estate tech entrepreneurs.
Google’s first real threat to its Search product could come through Bing’s integration with ChatGPT.
That said, both Search and Bing are not tailored for real estate, which partly explains why Zillow, Redfin and StreetEasy have become valuable businesses. There’s a significant opportunity for an ML-enabled search and listings engine that leverages large language models, integrates with MLS providers and provides more robust results for buyers and renters.
Vancouver proptech company partners with OpenAI - Real Estate Magazine
RESAAS (Real Estate Software as a Service), a proptech company based in Vancouver, is partnering with OpenAI’s ChatGPT to bring AI capabilities to real estate agents,
In a new release, the company says the integration of ChatGPT into its platform will allow agents to generate unique and accurate property descriptions in seconds by inputting key information about the property.
According to RESAAS, the new technology will save agents time and effort and provide a more professional and engaging experience for potential buyers; the initial launch of the partnership focuses on generating property descriptions using AI.
Tom Rossiter, CEO of RESAAS, says, “By combining the cutting-edge technology of ChatGPT with the vast amount of unique real estate data RESAAS generates, we are able to provide a valuable tool to help RESAAS Agents succeed in an increasingly competitive market.”
Three Trends Driving Proptech Innovation—And What Other Businesses Can Learn - Forbes
For most industries, innovation is driven by a combination of technological advances and larger global trends, and this is particularly true of the residential property management industry. The rental market continues to be shaped by economic, social and technological trends, both in terms of business challenges and resident demand.
As property management teams lean on new technology to improve operational efficiency, grow their businesses and meet customer expectations, three major trends are acting as driving forces: the Internet of Things (IoT), consumer fintech and remote work. As these trends force significant change upon a variety of industries, there’s a lot that business leaders can learn from their impact on the real estate space and, ultimately, how property technology (proptech) innovation is helping property managers meet these changes.