"AI arguably presents the greatest opportunities and risks of our time: How will it reshape the way we live and work, and improve our efficiency without losing judgment, context, and nuance? AI is changing the foundation of every industry, including commercial real estate (CRE). From growing data centers and energy infrastructure to site selection, investment, and development strategies; the physical side of our industry is rapidly changing. However, that's just one piece of the puzzle being reshaped by AI."
"New technological innovations promise industry transformation and while there's no question that AI based tools are changing behaviors and outcomes, we're focusing on one question: How will AI realistically shape the near-term future of CRE? To explore this, I sat down with our chief information officer, Martin Jepil, who joined Avison Young in 2021 from Hewlett Packard. Having worked extensively outside our industry, his experience allows him to break through legacy approaches and cultivate transformative thinking."
"Mark Rose: Looking at the capabilities of generative AI, I see a changing balance between the tasks done by people and those augmented by AI. This shift isn't just an incredible opportunity; it's a necessary move to keep pace. How do you see AI changing our industry? Martin Jepil: With the ability to process various databases, AI models can create connections and identify patterns that humans cannot see as quickly. For CRE, this provides two overarching opportunities: improved productivity and knowledge."
AI is transforming commercial real estate across physical infrastructure, operations, and human roles. Expanding data centers and energy systems, AI-informed site selection, investment, and development are reshaping industry foundations. Generative AI can process diverse databases to reveal patterns and connections faster than humans, enabling productivity improvements and knowledge gains. Reduced project time intensity increases capacity to pursue more opportunities and allocate effort toward differentiation and higher-value work. The balance between human tasks and AI augmentation is shifting, creating near-term potential for greater efficiency and enhanced decision support while requiring preservation of judgment, context, and nuance.
Read at Fast Company
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