Real Estate Insights Navigating the future of property professionals: an AI-enabled paradigm

PurposeThe technological disruption from artificial intelligence (AI) within the economy requires intelligent property professionals for tomorrow. This paper proposes that the direction of interaction between AI and tomorrow's property professional, the property graduate, should be AI-empowered...

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Bibliographic Details
Published in:Journal of property investment & finance 2024-04, Vol.42 (2), p.207-210
Main Authors: Dyason, David, Squires, Graham
Format: Article
Language:English
Subjects:
Artificial intelligence
Big Data
Decision making
Education
Knowledge
Portfolio management
Problem solving
Professionals
Skills
Student writing
Technology adoption
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Summary:PurposeThe technological disruption from artificial intelligence (AI) within the economy requires intelligent property professionals for tomorrow. This paper proposes that the direction of interaction between AI and tomorrow's property professional, the property graduate, should be AI-empowered rather than AI-directed.Design/methodology/approachThe paper reflects on the growing influence of AI in property combined with literature on technological adoption in the workplace. It proposes a way forward in navigating future decision-making.FindingsAn AI-empowered paradigm promotes the importance of industry-specific knowledge to determine factual information in decision-making. In contrast, an AI-directed paradigm leads to over-dominance of the user on pre-specified knowledge available through AI tools that could lead to AI-directed output that carries significant risk for the property industry.Practical implicationsNavigating the future requires a paradigm that moves from a computational focus driven predominantly by technological tools to one where tomorrow's professionals have a cognitive focus that leads to AI-enabled property graduates that can apply the correct tools in the right circumstances.Originality/valueThis paper reflects on the increasing role that technology and AI have within the property profession and brings to light the importance of learning through experience and the transparent use of AI tools in property.
ISSN:1463-578X
1470-2002
DOI:10.1108/JPIF-10-2023-0097