Artificial intelligence (AI) is reshaping how real estate organizations operate, from improving efficiency to enhancing client experiences. For industry leaders who want to move beyond the hype and take a thoughtful, business-driven approach to AI, a recent webinar (From Data to Deals: AI’s Role in Real Estate Innovation) explored three critical areas for driving this goal: why success starts with strong foundations and accurate data, why governance and security are essential for responsible adoption, and where real estate companies can find meaningful opportunities to apply AI.
These insights are designed to help real estate professionals evaluate readiness, identify high-impact use cases, and build confidence in their AI journey. Read on for a deeper understanding of these topics.
What Are the Foundations for Success?
AI is a transformative force, but its effectiveness relies on strong fundamentals. Organizations should begin with a clear business strategy, positioning AI as a tool that supports defined goals. A structured framework—strategy, process, data, technology, people, and risk—guides this approach. Before introducing AI, streamline processes and confirm data quality and governance. Inaccurate data can lead to “wrong answers faster,” underscoring the need for reliable information. A phased approach, including readiness reviews and road maps, helps prioritize initiatives. Quick wins, such as automating repetitive tasks, can complement long-term objectives when supported by preparation and clarity.
Why Is Governance Essential?
Governance is a critical element of AI adoption. Organizations should define acceptable use policies and apply technical safeguards. Risks include exposing sensitive data through open platforms. Closed environments, such as Microsoft Copilot, offer safer alternatives when using AI tools. Governance should align with data classification practices to prevent protected information, such as personal or financial data, from entering AI models. Security, compliance, and regulatory considerations should be integrated throughout deployment to reduce reputational and regulatory risk.
What Are Opportunities for Real Estate?
AI offers practical applications for real estate organizations. Conversational bots can manage tenant inquiries, maintenance requests, and payment issues, allowing staff to focus on higher-value activities. Document intelligence tools can extract data from leases and agreements, reducing processing time significantly. Generative AI (genAI) can personalize communications and investor reports, while predictive analytics can inform investment decisions by identifying patterns beyond human capability. These examples demonstrate how AI can help improve efficiency, accuracy, and client engagement across operations.
How Forvis Mazars Can Help
Forvis Mazars assists organizations in navigating AI adoption through tailored strategies and practical solutions. Our approach includes readiness reviews, road map development, and deployment of tools such as Microsoft Copilot, hyperautomation, and custom analytics. We also provide training in prompt engineering and help define governance help manage risk. With industry knowledge and a focus on alignment with business objectives, Forvis Mazars is positioned to support real estate enterprises in unlocking value from AI responsibly and effectively.