Book a demo

Let a friendly Gnomen expert answer all of your questions and take you through the system online in 15 minutes. Just choose a time that suits you.

username pass repass
CAPTCHA Image Refresh
Sales: +44 (0) 208 123 9019 Support: +44 (0) 208 629 1208

Montana H

Business Development Director

Share Facebook LinkedIn Twitter

Property firms must come to terms with Artificial Intelligence

Range of lettings measures announced during party conference season

Companies have been warned that they must get to grips with emerging, disruptive technology such as artificial intelligence (AI) or risk becoming obsolete.

That’s the findings from a new research report by the Royal Institution of Chartered Surveyors (RICS), which explored the ‘impact of using artificial intelligence (AI) in the built environment’.

It urged professionals from all kinds of industries to come to terms with AI and how it will affect their roles in the future – a future that is highly likely to depend far more on innovative, ground-breaking technology.

The research – titled Artificial Intelligence in the Built Environment Insight Paper – found that one sector in particular which will be impacted heavily by AI is facilities management, mostly due to the repetitive nature of roles in this area. This makes it the perfect place for automation of jobs previously done by humans. The report, however, looked at the pros and cons of such changes and how firms could and should deal with them.

It also analysed how smarter technology and the increased availability of data is changing the way investors operate, which means businesses – both large and small – must ‘analyse and prepare for how this disruptive technology could transform their role, sector and the wider built environment’. If firms fail to do this, they face becoming irrelevant or even obsolete.

Additionally, the report looked at how AI could transform the property industry by helping to create smart, efficient buildings – from design through to construction – in a fast and cost-effective manner. With regular talk of Britain facing a housing crisis and a lack of affordable homes, revolutionary technology could very well prove to be all-important in resolving some of the property industry’s major issues.

The insight paper delved into how those in the property industry can use the latest AI applications and developments to its advantage. This includes drones and Building Information Modelling (BIM) to ‘plan and work more effectively’, while AI could also help to improve and better preserve the quality of buildings and the wider built environment.

In conclusion, then, the main message from the report seems to be that firms need to understand, seek out and exploit the opportunities that AI puts forward. At the same time companies need to be wary of any potential threats and how these can be minimised.

Like anything else, AI has its upsides and downsides and may not play a key role in the property industry for quite a while yet. However, with the way the world and technology is going, it’s not unrealistic to think that AI will one day be integral and firms will need to be ahead of the game or risk being left behind by the competition.

Those who are will have a much better chance of staying in control of their business strategy, financial health and the long-term direction of their company.

As the world becomes more urbanised, tech-led and digital, artificial intelligence is expected to play an increasingly crucial role, driving progress forward in a number of areas. The impact this could have on our industries and their productivity is something that will be explored in detail at the RICS World Built Environment forum in London on April 23 2018.

At Gnomen we understand the importance of innovation, cutting-edge technology and the power of the internet. It’s why we offer you our all-in-one, cloud-based property software, which allows you to manage your staff, office, clients and marketing strategy all in one place, at a click of button, from wherever you happen to be.

We also design websites that look beautiful and work beautifully. At a time of intense competition, your agency website needs to stand out more than ever before with contemporary, practical features and great usability. We can make that happen.

For more information about what Gnomen can do for you, please get in touch with us on 0208 123 9019 or book a free demo here.

Share this article

Share Facebook LinkedIn Twitter

Montana H

Business Development Director

Twitter LinkedIn

Gnomen news

Upheaval in the online agency world shows increasing importance of digital

> Read more

The countdown to GDPR why compliance is crucial

The introduction of strict new data regulations is now only a matter of days away.On Friday 25 May 2018, the General Data Protection Regulation (GDPR) will replace the Data Protection Act 1998 and apply to all countries in the EU.As Britain is still a member of the union at this point, the new rules will be unaffected by Brexit.

> Read more

Heres why the rise in Millennial renters is a good

> Read more

Build to Rent growth means letting agents

One of the fastest-growing parts of the private rented sector is Build to Rent, where large-scale, institutional investors pump money in to provide bespoke, purpose-built rental accommodation for tenants.

> Read more

professionalising the industry

> Read more

Digital futures: Why HM Land Registry is the latest to embrace tech

For a well-functioning property market, with transactions occurring regularly and with minimum disruption,

> Read more

The rollout of superfast broadband can benefit letting agents

> Read more

How can estate and letting agents avoid customer problems during transactions?

Some 54% of people who have sold, rented or bought a property in the last five years have faced problems during the process, new research from NAEA and ARLA Propertymark has revealed.

> Read more

PropTech is mainstream and that is why agents need to embrace it

Before now, there could have been accusations that PropTech was a bit of a niche market; an outside disrupter rather than part of the in-crowd.

> Read more

Is bitcoin the future currency of property sales?

> Read more

Estate and letting agents 2018 dates for your diary

> Read more

latest budget outlines britains digital future

> Read more

agents benefit as property prices London

> Read more

Fees ban draft bill: 5 key questions answered

On November 1, the Department for Communities and Local Government (DCLG) published the draft for what is to be known as the Tenants' Fees Bill.

> Read more

Agents need to be wary of fraudulent computer virus scams

Agents need to be wary of fraudulent computer virus scams Cyber-crime is one of the great challenges of our time, and it's something estate and letting agents need to be aware of.

> Read more

Range of lettings measures announced during party conference season

Range of lettings measures announced during party conference season The political party conference season usually springs a few surprises and it was those of us working in the property industry who this year were required to sit up and pay attention.

> Read more

MPs debate unintended consequences of proposed letting fees ban

> Read more

Busiest time of the year for letting agents almost upon us

If you are a letting agent it is likely that your workload is about to get a lot busier

> Read more

Agents urged to prepare for introduction of new data protection legislation

It might not be something you have given much consideration to but new data protection legislation is coming into effect from next year that will have a significant bearing on your estate or letting agency business

> Read more

Letting fees ban set to go ahead but no timeline specified

One of the most contentious issues in the lettings industry at present is the proposed ban on letting agents fees to tenants.

> Read more