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ICSC + ThoughtTrace: AI Contract Analytics for Efficiency and Asset Optimization

17 MARCH

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Key Takeaways:

  • Commercial real estate technology is evolving and over $55 billion has been invested in PropTech in the last two years.
  • In the recent Deloitte 2021 Commercial Real Estate Outlook survey, 56% of respondents believe the pandemic exposed shortcomings in their companies’ digitization efforts. 45% plan to increase their investment in advanced technology solutions to close the gap and make operations more efficient.
  • Document management and contract analytics remain a compounding problem in the space, spanning from lease administration to capital market dispositions and due diligence review. Storing documents isn’t the issue; it’s the ability to access valuable data within those documents.
  • This is where AI excels, able to read and understand documents like a human, exponentially faster and more accurate.
  • Real Estate use cases for AI include:
    • Lease abstraction. Accelerate accurate abstracts with automated, pre-trained AI analysis and extraction.
    • Obligation compliance. Eradicate risk with automated analysis for critical date tracking and consistent monitoring.
    • Due diligence. Save time and money with expedited transaction analysis.

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