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Driving progress in corporate real estate with artificial intelligence and machine learning
Corporate Real Estate Journal,
14
(3),
210-221
(2025)
Abstract
Investment in artificial intelligence (AI) and machine learning (ML) is having a transformative effect on corporate and commercial real estate, providing unprecedented efficiencies in tasks such as market analysis, property valuation, document automation, and lease abstraction. These activities, which have always been tedious and time-consuming manual processes, can be done with great precision and speed with the emerging technologies, freeing workers for tasks that rely on human interaction and judgment. These innovations, which are overwhelmingly data-driven, are particularly well-suited to real estate, with its heavy reliance on property and market data. The promise of AI and ML is driving significant investment in an industry that has long stood out for its resistance to new technologies, with predictions of investment exceeding US$700bn by 2028. While exciting, this new territory is not without danger. The emergence of ‘deep fakes’ that use the same AI and ML technologies to enable fraud and theft threatens businesses that are just beginning to understand how to protect themselves.
Keywords: artificial intelligence; machine learning; property valuation; market analysis; data-driven business
The full article is available to subscribers to the journal.
Author's Biography
David Karpook has recently retired from his role as a consultant and executive at Planon, a leading provider of technology solutions for facility management and real estate. A 25-year industry veteran, he has been a customer, vendor, system implementer, trainer, and strategist, managing workplace technology projects in North America, Europe, the Middle East, and Africa. Prior to joining Planon in 2015, he served as the President and the CEO at Bricsnet, an enterprise software provider. He was named the 2016 Associate Member of the Year by the International Facility Management Association (IFMA). He is on the leadership team of Workplace Evolutionaries and is the former Chair of IFMA’s Audit Committee. David is the former Chairman of OSCRE International, the Open Standards Consortium for Real Estate. His additional experience includes seven years as a facility manager and a construction project manager at the University of Florida. A graduate architect with degrees from Harvard University and the University of Florida, he has also worked as a journalist for The New York Times and Orlando Sentinel.
Pay Wu is a transformational executive who excels at the crossroads of strategy and execution in the workplace and real estate arena. She led real estate organisations for 10+ years as an executive leader for Deloitte, American Express, and TD Bank and brings innovative and thinking and execution honed through 15+ years in professional services at Deloitte and Arthur Andersen. Her broad experiences across strategy, operational improvement, mergers and acquisitions, and technology for real estate continue to drive value for the industry, including her current focus on diversity. In 2022, Pay cofounded MWBE Unite, focused on increasing supplier diversity in commercial real estate. Prior to founding MWBE Unite, Pay led the outsourcing business for Cushman & Wakefield in the East Region, spanning strategy, project development services, facilities management, and transaction management. During her tenure, she grew the business in region and led approximately 3000 frontline workers in managing through COVID-19. In 2020, Pay was named a Woman of Influence by Globe Street for her leadership. Pay is a frequent speaker and a moderator for various industry organisations such as CoreNet Global and Realcomm and has published articles for many publications. She is also a Board Member with the non-profit, Partnership with Children in NYC.
