{"id":19,"date":"2024-09-13T06:21:05","date_gmt":"2024-09-13T06:21:05","guid":{"rendered":"https:\/\/www.yardi.asia\/?p=303809"},"modified":"2026-08-06T04:01:39","modified_gmt":"2026-08-06T11:01:39","slug":"genai-in-real-estate-from-wait-and-see-to-see-the-money","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/apac\/genai-in-real-estate-from-wait-and-see-to-see-the-money\/","title":{"rendered":"GenAI in real estate: From \u2018Wait and See\u2019 to \u2018See the Money\u2019"},"content":{"rendered":"\n<p><em>The real estate sector stands on the edge of a generative AI revolution \u2013 one that could unlock up to US$180 billion annually, according to McKinsey. Yet, many are still stuck in the \u2018wait and see\u2019 mindset. What\u2019s holding them back? Yardi\u2019s Bernie Devine puts it bluntly: \u201cWhen it comes to GenAI, it\u2019s time to shrug off the hesitation and start seeing the money.\u201d<\/em><\/p>\n\n\n\n<p>Many real estate companies use analytical artificial intelligence to evaluate trends, assess performance, optimise portfolios, manage risks and much more. But generative AI (GenAI) \u201chelps real estate companies to make the leap from predictive to proactive intelligence,\u201d says Bernie, Yardi\u2019s Senior Regional Director for Asia Pacific.<\/p>\n\n\n\n<p>\u201cGenAI doesn&#8217;t just analyse the world; it actively shapes it by redefining how we think about problem-solving and creativity,\u201d Bernie says.<\/p>\n\n\n\n<p>What\u2019s stopping real estate companies from adopting the technology at speed and scale? \u201cThe same old roadblocks\u201d \u2013 concerns about upfront investment costs, uncertainties about existing system integration, knowledge and skills gaps, employee resistance to change, and demand for specialised expertise among them. \u201cThrow in privacy and security concerns, and many real estate companies are taking a \u2018wait and see\u2019 approach.\u201d<\/p>\n\n\n\n<p>But the potential productivity uplifts are too big to ignore. Goldman Sachs suggests widespread adoption of GenAI could boost global gross domestic product by 1.3% annually, through labour productivity benefits that free up human resources for higher-value tasks. In developed markets, a 1.5% growth in GDP is within reach.<\/p>\n\n\n\n<p>Given this potential, the question is clear: What should real estate asset managers prioritise next to leverage the transformative power of GenAI? Yardi\u2019s latest whitepaper, <a href=\"https:\/\/www.yardi.asia\/Resource\/?resource=Yardi+-+Asset+Management+in+Generative+Age+%28White+paper%29\">Asset Management in the Generative Age<\/a>, offers some insights.<\/p>\n\n\n\n<p>\u201cGenAI doesn\u2019t just analyse data. It demands decisions, and this influx of choices can lead to decision overload,\u201d Bernie says. Adopting GenAI quickly, therefore, requires a strategic approach. \u201cStart with clean data and robust foundational systems and processes to enhance transparency and trust. Get the data platform and governance right and the benefits will begin to follow.\u201d<\/p>\n\n\n\n<p>While GenAI is a powerful tool, it\u2019s not the only solution. For GenAI to live up to its potential and generate real business value, it must be firmly rooted in trusted enterprise data.<\/p>\n\n\n\n<p>\u201cSometimes the most effective solution to a problem lies in process change \u2013 streamlining workflows, optimising operational procedures or implementing new management practices.<\/p>\n\n\n\n<p>\u201cAt other times, the answer might be to bolster education and training, improve communication channels or revisit strategic goals. Whatever the problem, it is better solved in partnership.\u201d<\/p>\n\n\n\n<p>Download Yardi\u2019s latest whitepaper, <a href=\"https:\/\/www.yardi.asia\/Resource\/?resource=Yardi+-+Asset+Management+in+Generative+Age+%28White+paper%29\">Asset Management in the Generative Age<\/a>.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate sector stands on the edge of a generative AI revolution \u2013 one that could unlock up to US$180 billion annually, according to McKinsey. Yet, many are still stuck in the \u2018wait and see\u2019 mindset. What\u2019s holding them back? Yardi\u2019s Bernie Devine puts it bluntly: \u201cWhen it comes to GenAI, it\u2019s time to [&hellip;]<\/p>\n","protected":false},"author":3092,"featured_media":58378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3728],"tags":[],"class_list":["post-19","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Yardi Blog<\/title>\n<meta name=\"description\" content=\"The real estate sector stands on the edge of a generative AI revolution \u2013 one that could unlock up to US$180 billion annually, according to McKinsey. 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