{"id":1004681712,"date":"2023-09-22T01:23:09","date_gmt":"2023-09-22T09:23:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004681712"},"modified":"2023-09-24T22:56:30","modified_gmt":"2023-09-25T06:56:30","slug":"7-uses-for-ai-in-cre","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/","title":{"rendered":"7 Uses for AI in CRE"},"content":{"rendered":"<div id=\"attachment_1004681817\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004681817\" data-attachment-id=\"1004681817\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/james-scott-of-mit-at-the-september-2023-crew-convention-featured\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg\" data-orig-size=\"754,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"James Scott of MIT at the September 2023 CREW Convention featured\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;James Scott of MIT&#8217;s Center for Real Estate explains how CRE can utilize AI. Image by Jessica Fiur for CPE &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg?w=754\" class=\"wp-image-1004681817 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg?w=300\" alt=\"James Scott of MIT at the September 2023 CREW Convention\" width=\"300\" height=\"247\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg 754w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg?resize=300,247 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004681817\" class=\"wp-caption-text\">James Scott of MIT&#8217;s Center for Real Estate explains how CRE can utilize AI. <em>Image by Jessica Fiur<\/em><\/p><\/div>\n<p>\u201cAI is no longer science fiction,\u201d James Scott, director of the Real Estate Transformation Lab at MIT\u2019s Center for Real Estate, said at the recent CREW Convention in Atlanta.<\/p>\n<p>Though some might be leery of artificial intelligence, it is here, and <a href=\"https:\/\/www.commercialsearch.com\/news\/cre-meets-the-ai-generation\/\">the industry is taking note<\/a>.<\/p>\n<p>Scott made note of several applications of AI that can be used in CRE.<\/p>\n<ul>\n<li>Generative design: AI can be used for building exterior design, floorplate design, sustainable building design and city and neighborhood design.<\/li>\n<li>Chatbots\/artificial assistants: While in the past, people knew when they were talking to a bot versus a person, according to Scott, \u201cthey\u2019ve got incredibly more humanistic.\u201d This technology is useful for people who want information about your company, especially after work hours. \u201c(Bots) work 24\/7, not Monday to Friday,\u201d he said.<\/li>\n<li>Robotics: Particularly useful for industrial and warehouse spaces, robots can help with automated storage and retrieval systems.<\/li>\n<li>Automated valuation models<\/li>\n<li>Predictive analytics: In addition to aiding in financial matters, this could also be a benefit to maintenance teams, for example, helping them determine when an appliance might need to be replaced.<\/li>\n<li>Automated report generation<\/li>\n<li>Property inspection drones: According to Scott, you can even use a drone with infrared cameras to see where energy is being used, or conversely where it is being wasted, so you can make your building more efficient.<\/li>\n<\/ul>\n<p>Of course, AI is not perfect and still needs human oversight. \u201cIs it fact checking?\u201d Scott asked. \u201cAbsolutely not!\u201d<\/p>\n<p>But AI can make CRE processes more efficient, allowing you to focus on more important aspects of the industry. And don\u2019t worry about losing work to a robot.<\/p>\n<p>\u201cReal estate is a people business,\u201d Scott said. \u201cAI is not taking over jobs. It\u2019s facilitating tasks.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Don&#8217;t fear artificial intelligence! At the CREW Convention, MIT\u2019s James Scott outlined how that technology can make your life easier.<\/p>\n","protected":false},"author":443,"featured_media":1004681817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,23891,21742,21787,51037],"tags":[42890,33188,45626],"class_list":["post-1004681712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-national","category-latest","category-technology","category-trends","tag-artificial-intelligence","tag-crew-network","tag-massachusetts-institute-of-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>7 Uses for AI in CRE - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"AI can make processes more efficient, allowing you to focus on more important aspects, James Scott of MIT said at a recent CREW Convention.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7 Uses for AI in CRE\" \/>\n<meta property=\"og:description\" content=\"AI can make processes more efficient, allowing you to focus on more important aspects, James Scott of MIT said at a recent CREW Convention.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-22T09:23:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-25T06:56:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"754\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jessica Fiur\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/\",\"name\":\"7 Uses for AI in CRE - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg\",\"datePublished\":\"2023-09-22T09:23:09+00:00\",\"dateModified\":\"2023-09-25T06:56:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0bf67d338f2b97c9e1194fabf816e9c3\"},\"description\":\"AI can make processes more efficient, allowing you to focus on more important aspects, James Scott of MIT said at a recent CREW Convention.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-uses-for-ai-in-cre\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/James-Scott-of-MIT-at-the-September-2023-CREW-Convention-featured.jpg\",\"width\":754,\"height\":620,\"caption\":\"James Scott of MIT's Center for Real Estate explains how CRE can utilize AI. 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