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Artificial intelligence and multifamily . . . are we in?

Artificial intelligence and multifamily . . . are we in?
It’s no secret that the multifamily space has been slow to adopt new technology. We were among the last to adopt revenue management software, for example, or to recognize the charging freight train of reputation management and social media. We resisted. We felt the pain. We finally embraced. We reaped the benefits. The good news? As the industry has become both more competitive and an increasingly attractive investment, we are also seeing less resistance to change than we’ve seen in years. As a result, the technology options are overwhelming for operators – requiring more focus and assets devoted to the business of culling through what to deploy. And now, technology utilizing artificial intelligence is knocking on our doors. Will we continue to wait, or will we take advantage? The National Apartment Association recently published an article on the subject in UNITS magazine, which you can read here. The general perspective of the article is that real estate is an industry that can benefit from AI, but these technologies are still early and multifamily isn’t behind the curve. Hurrah! So, what is AI? In one of its simplest forms, think Alexa from Amazon. She can answer your questions, search for you and even order your favorite products. Alexa is constantly adding skills and “learning” your preferences. She’s certainly not aspiring to be “human,” as some AI platforms are, but she’s a pretty good speech bot and very easy to use. If you don’t use Alexa and are curious, here’s a complete list of all the commands to ......
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