You know Artificial Intelligence in the property industry is a bona-fide business growth driver when the Australian Financial Review features it as a regular topic for its C-level readers at ASX-listed companies and innovators across the country.
Propic is proud to be in the company of its national partner, MRI Software, in this Financial Review feature article: AI opens new doors in real estate industry.
Read the full article here, or enjoy our favourite snippets below:
"Property owners and managers who don’t embrace AI face being left behind in an increasingly competitive market. MRI’s AI solutions are powering everything from property management to reducing contract review times by up to 75 per cent, measuring a building’s carbon footprint and assisting customers by automating inquiries 24/7.
"Real estate and proptech is in a state of change. Data from MRI partner Propic shows 70 per cent of property inquiries come into real estate agents via online sites after 10pm, and that many people wait 72 hours or more for a response from an agent. In any other developed industry this would be unacceptable.
"MRI [Concierge AI] by Propic offers ‘conversational AI’ and other automated property management solutions. Leah Jay recently piloted the solution across three offices. The results were impressive with the AI system successfully responding to 99.89 per cent of more than 14,500 inquiries without any human interaction. The Leah Jay team went from 1200 emails in their inbox to zero while providing round-the-clock accessibility and responsiveness to customers.
Contracts are at the heart of every business. Complex contracts paired with tedious, manual processes make it difficult to track and monitor critical terms and obligations across thousands of legal documents, often resulting in missed opportunities for cost savings and increased revenue.
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