Guide to AI Adoption for Real Estate Firms
Learn more about the factors to consider prior to rolling out AI-based technology in your real estate firm.
What AI technologies does MRI use?
Our products, services and platform use all types of AI technology to drive automation, efficient workflows, and confident decision-making.
Our products, services and platform use all types of AI technology to drive automation, efficient workflows, and confident decision-making.
Natural Language Processing
For handling any text that is written or spoken, for example in contracts and forms
Computer Vision
Used in object detection and facial recognition
Machine Learning and Data
Anything to do with structured data stored in databases
Generative AI
ChatGPT and similar Large Language Models (LLMs)
Real-world benefits of AI-first PropTech
Digital document scanning
The natural language processing services in the MRI Agora™ platform extract data from forms, utility bills, invoices, tax documents, etc, allowing businesses to extract data fast and spend more time on strategic tasks rather than manual processing. Detecting energy usage variances and matching the environmental conditions in the building to ongoing usage patterns to drive more efficient operations would be one example of this. Rather than manually inputting energy bills.
Data extraction
Unlock value and identify cost savings in your leases, contracts, and legal documents by converting the data into machine-readable text. A patented, proprietary AI and OCR engine transforms unstructured data into a structured, digital form to enable extraction, digital querying, and use in other applications. AI can be applied to highly bespoke documents like leases and contracts and also to more formatted documents like tax forms and certificates of insurance.
Prospect engagement
After a prospect indicates interest in a property, an AI-powered leasing assistant can maintain engagement and move the prospect through the funnel instead of waiting on a human to send the next communication. Property managers have an endless list of responsibilities, and AI can free them up to focus on more valuable tasks without sacrificing customer service.
Financial forecasting
AI leverages historical data and market trends to help you make predictions and recommendations regarding future cash flows, revenues, and expenditures. With automated insights and visibility into data from across your technology ecosystem, your business can budget and plan more accurately, identify trends and anomalies, and make smarter decisions.
Multifamily risk management
AI can assess the risk associated with rental fraud by preventing sophisticated ID forgery. Two-sided ID matching and AI-powered facial recognition ensure IDs are valid and match the person in front of you. Identify potential fraud by scanning IDs, running income checks, and checking identity across multiple government databases.
Pedestrian patterns & demographics
Using AI to understand pedestrian traffic patterns, including paths taken and dwell time, can unlock valuable information for retail tenants and property owners. The ability to attribute demographics to the observed traffic increases the value of the data and helps businesses decide when to staff up or down based on volume of visitors.
Ask Agora
Ask questions, get answers.
Ask Agora is a dynamic, AI-driven search capability that enables users to find the information they need without having to know exact terms or field names. Building on MRI’s AI-first strategy, Ask Agora uses generative AI capabilities and natural language processing queries to serve users the right data from their records.
The leader in AI-powered PropTech
AI is in
our DNA
AI isn’t an afterthought – MRI has been investing in AI long before ChatGPT became a buzzword. The MRI Agora platform is developed with an AI-first approach, and we have more AI products than any other PropTech provider.
Responsible
AI-first design
Our AI-powered products and services harness the power of AI to drive innovation, while ensuring the technology is used in a way that benefits all stakeholders and upholds the highest ethical standards.
Grow
without limits
Don’t let your software provider limit your ability to grow. MRI’s AI-powered, scalable technology platform is designed to adapt as your needs evolve, empowering you to run your business without limits.
MRI's responsible AI framework
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Accountable
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Fair and inclusive
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Transparent
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Reliable and safe
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Privacy and security
Accountable
Accountable
We make sure that the AI technologies we create and use are under human supervision and that the scientists, developers, and product teams are held accountable for what we create with AI and what we use it for.
Fair and inclusive
Fair and inclusive
We will avoid bias in the datasets and AI models that we create and use and make sure that it does not affect people adversely across cultures, societies, and demographics.
Transparent
Transparent
As we build AI into products, we will be able to explain how the data, outputs, and decisions from the models are used and rendered.
Reliable and safe
Reliable and safe
We will ensure that our AI products function consistently and without causing any harm.
Privacy and security
Privacy and security
We will protect user privacy, as well as security of the data and the applications in building these AI-based products.
AI at MRI Software
15
AI products
30+
languages
5
U.S. patents
Resources
AI Real Estate FAQs
Why is MRI all-in on AI?
What is the value of AI for real estate?
How is MRI using AI to improve client experience?
What is the human benefit of AI?
Does AI still need human oversight?
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