The Evolution of Site Selection
The 21st century is upon us, and it’s here sooner the you imagined: Real estate site selection just took a huge leap into the future, and you might have missed it: Artificial intelligence is taking over the industry.
Up until now, the commercial real estate industry hasn’t adopted new technology as well as others have. Even stodgy insurance companies now use big-data modeling to calculate “insurance credit scores” on hundreds of millions of customers. And even the notoriously backward-looking legal industry has hired IBM’s Watson, a deep thinking supercomputer, on as a paralegal. But commercial real estate?
- The huge leap
- Where’s CRE on the spectrum?
- Phase 1: Drive around and see
- Phase 2: Advanced Modeling
- Phase 3: Democratization of high-accuracy modeling
- Putting it into play
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