AI investment shows increasing importance of new tech for agents

19 January 2018 7004 Views

For a while now, property and technology have been combining seamlessly to offer the industry innovative solutions to often complex problems. But what about the role of artificial intelligence?

The unveiling of a new AI-led property platform is perhaps the biggest example so far of the growing influence of artificial intelligence in the property industry.

AskPorter, a London-based PropTech startup and the first AI powered property management platform anywhere in the world, has revealed that it has secured investment of more than £500,000 from a number of heavyweight property, technology and business specialists. This includes personal investment from former Dragon and serial entrepreneur James Caan.

What does it do?

AskPorter is a multi-channel communications platform with an AI digital assistant on hand to offer a bespoke service to clients. The AI assistant serves as a PA to property managers and a property concierge to customers and tenants.

The digital assistant – ‘Porter’ - proactively carries out planned duties, delivers concierge services and escorts customers through enquiries and reporting issues, only reverting to a human manager or approved service provider when required.

Currently, the platform is being offered to enterprise clients who manage or own residential, private rented sector, block and commercial properties.

AskPorter’s mission, according to CEO Tom Shrive, is to ‘leverage AI’ to help property owners and managers build better relationships with their customers. This is achieved by streamlining costly processes whilst ‘delivering a really compelling tenant experience’.

What does this mean for the future?

While AI is currently playing a minor role in the property industry, its influence and reach is expected to increase in the coming years as more agents and property managers get to grips with it.

Property firms have previously been warned that they must come to terms with AI or risk being left behind in the latest tech revolution. In fact, a research report by the Royal Institution of Chartered Surveyors (RICS) warned that a number of industries – including agency – could become obsolete if they don’t embrace AI. 

The government is certainly on board with the rising importance of AI, committing £75 million towards artificial intelligence at the most recent Budget. This will support the work of startups, grow the number of PHD students working in this field to 200 per year and aid the creation of an AI advisory body to ‘remove barriers to AI development’. The government hopes this will allow Britain to play catch-up with the world’s main AI players, including Japan, China and Taiwan.

The rising importance of AI also once again highlights the need for those working in the property industry to keep their processes fit for the 21st century. Like any other major industry, agents need to constantly evolve, improve and enhance their offering to keep up with rapidly changing demands.

Part of this strategy should be a beautifully designed, interactive and highly efficient website, and this is something Gnomen can provide. We also offer cloud-based, all-in-one property software to help you run all aspects of your agency business without a hitch.

You can get a better idea of what we offer by booking a free demo with us today.

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