10.02.2024
Rapid technological advancements in recent years have led to key changes in various business sectors, including real estate and construction.
Technology and artificial intelligence (AI), in addition to its impact on internal changes in how businesses operate across the industry, have impacted the way people perceive, invest and manage real estate. Thus, from automated market analysis to personalized user experiences, technology is creating a new horizon of opportunities as well as challenges in the real estate industry, and its further integration is expected to bring even greater changes.
Three industry entrepreneurs answer how technology and artificial intelligence are changing real estate and what their role is today. In particular, the managing director of Karma gives his assessments on this matter Group Nicholas Karoullas , President and Founder of Imperio Yannis Misirlis and Managing Director of Ayia Napa Harbor Stavros Karamontanis .
“The adoption of innovative technologies such as robotic process automation (RPA), virtual reality (VR), project information management systems (PIMS), drones , smart sensors and artificial intelligence will simplify various processes and lead to increased efficiency and reduced costs,” states , Nicholas Karoullas .
In turn, Yannis Misirlis emphasizes that virtual presentations of various properties for sale or rent have simplified the process of showing a property. He also adds that various smart solutions and modern automation make tenants’ daily lives much easier, further improving their quality of life.
However, according to Stavros Karamontanis , it is necessary to take into account the fact that not all users/clients are at the same level of knowledge and, therefore, cannot use technology applications to the same extent. “For this reason, additional effort and more intensive user/customer training may be required,” he explains.
