As UKREiiF 2024 has now wrapped up, the Equiem team returns invigorated and inspired by the wealth of knowledge and networking opportunities provided at one of the premier events in the commercial real estate industry. This year, we were particularly excited to participate actively, with our Global Director of Sales, Ben Harris, chairing a pivotal panel discussion that explored the transformative impact of Artificial Intelligence on customer experience within commercial real estate.
AI and Customer Experience in Commercial Real Estate
The panel, titled "From Data to Delight: How AI is Going to Elevate CX in CRE," brought together industry leaders and thinkers to discuss the evolving role of AI in shaping how tenants interact with commercial spaces. The discussion centered on several key themes:
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Problem-solving with AI: Panelist Rikesh Shah emphasized starting with the real problems AI can solve rather than getting caught up in the technology's allure. This practical approach ensures that AI implementations are grounded in genuine tenant and operational needs.
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Building Trust Through Transparency: Trust emerged as a critical theme, with discussions on how transparency in data handling and AI processes is essential for tenant buy-in and comfort.
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The System-Led Approach to AI Integration: A comprehensive strategy that includes early engagement and collaboration with technology providers can lead to more seamless and effective AI integration.
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Operational and Sustainability Outcomes: Victoria Goodings highlighted how AI could significantly enhance building design and management. For instance, generative AI and spider modeling can optimize organizational and spatial design to improve both operational efficiency and environmental sustainability.
Key Takeaways and Practical Insights
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Enhanced Customer Satisfaction and Cost Efficiency: AI-driven tools and systems are proving essential in enhancing tenant satisfaction while also delivering cost efficiencies, a win-win for property managers and tenants alike.
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Sustainability at the Forefront: With AI, buildings can better manage resources, reducing energy use and costs, and significantly lessening environmental impacts, aligning with broader ESG goals.
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Role of AI in Community Building: The panelists discussed how AI facilitates a more dynamic community within commercial spaces by providing the tools needed to manage and enhance tenant interactions and experience.
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Hybrid Work Environments: In the context of hybrid work models, AI enables more flexible, responsive management of space utilization, crucial for adapting to the fluid demands of today's workforce.
Looking Forward
As we reflect on the insights gained at UKREiiF 2024, it is clear that the intersection of AI and commercial real estate is ripe with opportunities for innovation and improvement. At Equiem, we are excited to further explore these technologies and integrate them into our solutions, helping our clients and their properties not just keep up but stay ahead in a rapidly evolving market.
The week at UKREiiF was not only about learning but also about connecting and envisioning the future of commercial real estate together with peers and experts. We thank all the panelists and attendees who joined us in these enriching discussions and look forward to continuing these conversations.
To learn more about how Equiem is driving the future of tenant experience through technology, book a demo. Let’s continue to transform spaces into places where businesses and people thrive.
