Artificial intelligence is transforming property management by enhancing efficiency, profitability, and relevance. Traditional smart technology lacked the adaptive capabilities found in contemporary AI, emerging from advancements in neural networks and Large Language Models. The new AI systems can analyze vast datasets and recognize intricate patterns, leading to significant changes in how properties are marketed and how residents receive support. Property managers must evaluate their current technology partnerships for long-term value to remain competitive and avoid being left behind as the industry evolves rapidly.
Embracing AI isn't just about adopting new tech; it's about unlocking profound competitive advantages. It means transforming every facet of the property management industry.
The real AI revolution, driven by advancements in neural networks and Large Language Models (LLMs), has only truly begun in the last year or so.
The companies that embrace AI now are positioning themselves to thrive, while those that hesitate risk being left behind in a rapidly evolving market.
You can't afford not to pick up these technologies, said Merrick Lackner, CEO of Rently. The first question a property manager needs to ask themselves regarding their tech stack is, 'Why am I partnering with who I'm partnered with, and are they going to offer long-term value?'.
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