DeepSummary
The podcast episode discusses how artificial intelligence (AI) is impacting and will continue to transform the real estate industry. It features an interview with Kat Allday, the VP of AI and Product Operations at Appfolio, a property management software company. Kat explains how Appfolio has implemented AI features like a leasing assistant bot that can interact with prospects via text message, answering their questions and scheduling appointments.
Kat highlights that over 90% of Appfolio's customers have used an AI feature in their product, indicating widespread adoption. She emphasizes that AI can help real estate professionals save time on administrative tasks and focus more on building relationships and providing better service to clients. Kat also discusses the potential for AI to create consistent experiences for residents and the importance of addressing customer hesitancy towards adopting new technologies.
Looking ahead, Kat envisions AI enabling more voice-based interactions, allowing real estate professionals to access information and perform tasks hands-free while on the go. She encourages embracing AI to achieve the mission of helping people find housing and have a great experience, emphasizing that technology can enhance human interaction rather than replace it.
Key Episodes Takeaways
- AI is already being adopted in the real estate industry, with companies like Appfolio implementing features like conversational AI assistants for leasing and customer support.
- AI can help real estate professionals save time on administrative tasks and focus more on building relationships and providing better service to clients.
- Designing AI features with ease of use and seamless integration is crucial for overcoming customer hesitancy towards adoption.
- AI has the potential to create consistent experiences for residents throughout their entire lifecycle within a property or community.
- Voice-based AI interactions could enhance the efficiency and convenience of real estate professionals in their daily work.
- Embracing AI technology can enable real estate professionals to achieve their mission of helping people find housing more effectively.
- AI can automate mundane tasks and enable real estate professionals to spend more time fostering human connections and building communities.
- Companies that fail to adopt AI technologies risk falling behind competitors and losing a competitive advantage in the industry.
Top Episodes Quotes
- “So in 2023, over 90% of our customers used an AI feature in our product. So pretty wide adoption.“ by Kat Allday
- “I think it's about ease of use, it's about a seamless experience. I think those are all things that are pretty core as you're designing these types of tools and how they can be used.“ by Kat Allday
- “And so I think if you use technology that allows you to be more efficient, get more done, you're helping more people find housing. And I think that you can tie that mission to the technology.“ by Kat Allday
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Episode Information
Everyday AI Podcast – An AI and ChatGPT Podcast
Everyday AI
1/25/24
How will AI impact the Real Estate industry? Whether you manage real estate or buy/sell/rent homes, how will AI change the way we interact with real estate? Cat Allday, VP, AI and Product Operations at AppFolio, joins us to discuss real estate's AI transformation.
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Timestamps:
01:50 Daily AI news
05:25 About Cat and AppFolio
10:38 AI gained foothold in leasing, will expand to entire resident life cycle.
13:33 App Folio AI use cases in real estate
20:44 Pros and cons of AI in real estate
25:20 Cat's final takeaway
Topics Covered in This Episode:
1. The Impact of AI on Real Estate Industry
2. AI Initiatives at AppFolio
3. Overcoming Customer Hesitancy to Adopt AI Features
4. Changing Behavior and Future Trends in Real Estate
5. Advantages and Challenges of AI in Real Estate
Keywords:
AI impact, real estate industry, artificial intelligence, generative AI, leveraging AI, companies, careers, AI news, Google, Lumiere, AI video, market cap, Microsoft, tech rally, Nvidia, US government, National Science Foundation, Nair, collaborative efforts, AI resources, real estate companies, property management, AppFolio, AI initiatives, leasing assistant, customer adoption, competitive disadvantage, voice dictation, personal interaction, human face to face, housing.
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