Clifford Chance

Artificial Intelligence (AI) and its potential impact is currently front of mind for most real estate organisations. The rapid acceleration of AI brings an exciting new chapter to real estate with revolutionary applications arriving at the perfect time to boost stagnating UK productivity. However, not everyone is positive about this change. For some, AI is intimidating, an unpredictable force with the potential to threaten jobs and potentially worse. Whilst views vary over how AI will impact in the long-term, most accept that it will bring new growth opportunities depending on how well it is tailored for and adopted by individual companies.

The use of AI is still a relatively new and complex concept for many organisations and not knowing how to get started with AI can hold organisations back from taking action. It is such a vast, fast-moving topic that it is impractical to provide a step-by-step guide of how to use it. Instead, this paper from REvolve aims to bring some context to how AI might apply specifically to real estate organisations. It provides a taster of the type of use cases where AI might offer a solution, the impact on people and buildings, the challenges associated with its adoption and finally, some approaches to consider as AI becomes integrated into the sector.

Clifford Chance is a member of REvolve and contributed an Expert View to the Report.