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Futurecasting: How Advanced Technologies Will Impact Apartment Operations

"The robots are coming!" For years, this line, or some variation of it, has been a quick and easy joke about how – one day far in the future – technology may take over our lives and throw many of us out of work. But the age of automated technologies and artificial intelligence truly appears to be at hand – and that's making many people nervous, including onsite associates in the apartment industry. However, their worries are unfounded, as there are ample reasons to be optimistic about the impact of AI and automation in multifamily.  In fact, according to an Anyone Home study of more than 70,000 leases that were signed over the past 12 months, 52 percent of prospects used a phone call to initially reach out to a community, indicating that human interaction still matters. Furthermore, a World Economic Forum study in 2018 found that the growth of AI could create 58 million net new jobs by 2022. The report doesn't shy away from acknowledging the challenges posed by the rise of technology and machines in the workplace but it also notes "these transformations, if managed wisely, could lead to a new age of good work, good jobs and improved quality of life for all." In the apartment industry, the implementation of automation and artificial intelligence will enhance the work of leasing agents by freeing them from mundane responsibilities and giving them the bandwidth to concentrate on tasks that drive the financial performance of a community. But the benefits......
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