Last week at Space UK, I had the pleasure of moderating a panel on AI in real estate, joined by industry leaders Jonathan Avery (LGIM), Andrew McLennan (Nuveen), Gary McLuskey (Greystar), Naqash Tahir (PGIM), and Kevin Kincaid (Grosvenor). It’s a hot topic, and for good reason—AI has the potential to revolutionize how we design, build, and manage spaces. But while the hype is real, so is the challenge of actually making AI work in an industry that hasn’t always been the fastest to adopt new tech.
The good news? You don’t need a massive budget or a full-blown AI strategy to get started. Here are three practical, low-hanging fruits that different types of real estate companies can act on today.
1. Tech readiness: get your house in order
AI doesn’t work in isolation—it needs the right digital foundation. If your systems are outdated, don’t expect AI to fix that. The companies seeing success with AI are the ones that have already invested in cloud-based platforms, automation tools, and connected data systems.
Low-hanging fruit: Start with small, high-impact tools. If you’re a property management company, look at AI-powered maintenance prediction software. If you’re in construction, explore AI-driven scheduling tools to reduce downtime. The key is to integrate AI into existing workflows rather than trying to reinvent the wheel.
2. Data readiness: "garbage in, garbage Out"
One thing was crystal clear from our panel discussion: AI is only as good as the data behind it. If your data is a mess—spread across PDFs, Excel sheets, and emails, AI won’t magically clean it up for you.
Low-hanging fruit: Start organizing your data today. Developers can standardize project data across different teams. Asset managers can centralize lease and occupancy data. The goal isn’t perfection—it’s about taking the first step toward making data usable so AI can actually provide valuable insights.
3. Find the right use cases: AI should solve real problems
Too often, AI gets treated like a shiny new toy instead of a tool for real business problems. AI adoption should be driven by business needs, not just because "everyone else is doing it."
One interesting takeaway from the panel was how AI tools like ChatGPT are often overlooked as a serious business tool. While those of us in tech might take it for granted in our daily workflows, many outside the industry still see it as a tool purely for writing birthday speeches, planning vacations, or other personal tasks.
There's a huge opportunity for businesses to rethink how they use AI—not just for small tasks, but as a powerful tool to streamline work and drive efficiency.
Low-hanging fruit: Identify one repetitive, time-consuming task in your business and test an AI solution for it. If you’re in leasing, use AI to speed up tenant screening. If you’re in construction, try AI-powered quality control tools. The best AI implementations aren’t about flashy innovation—they’re about solving everyday pain points.
Final thoughts:
AI isn’t only for the tech giants, it’s for any real estate company willing to take a smart, practical approach. You don’t need to overhaul your entire business overnight. Instead, focus on these three steps:
✅ Ensure your tech stack is AI-friendly
✅ Clean up your data so AI can work effectively
✅ Find specific business problems where AI can drive real value
It was great to see so much enthusiasm for AI at Space UK. The industry is waking up to the potential—but now, it’s about taking action. The companies that start today will be the ones leading tomorrow.
