The feverish momentum fueling AI evolution is now a bona fide business driver in the multifamily marketplace. According to a recent McKinsey study*, AI is growing faster than any technology that preceded it, including the Internet and PCs:
Business investment in AI shot up from a largely speculative level of $10B just 10 years ago to more than half a trillion dollars today. AI’s economic impact on the real estate market is expected to reach as much as $180B.
New iterations and applications of AI are evolving so quickly that recently adopted technologies like Generative AI (GenAI) are already being leapfrogged by expansive AI technologies like Agentic AI. The realization that AI adoption, impact and opportunity are accelerating — and available to all multifamily businesses — is fundamentally changing the way operators do business, serve residents and set performance standards. THE PIVOT: ELEVATING AI TO LEAD THE MARKET Multifamily leaders who are harnessing the potential of evolving AI tech and applications understand clearly that investing in strategic AI innovation is mission-critical and time-sensitive to remain competitive. In fact, the power, potential and pace of AI has created an inflection point for seeking real business value from these innovations, specifically for multifamily. @include(‘site.elements.media.image’, [‘fileId’ => 33677, ‘attributes’ => [‘border’ => ‘0’, ‘width’ => ‘1280’, ‘height’ => ‘859’]]) This pivotal transition, where AI value expands from experimentation to stabilization toward expansion and leadership, is the “steep part” of the value curve, where you must create and maintain significant competitive advantages — instead of watching competitive gaps widen. Moving forward faster and in a new way with evolving AI requires a fresh and flexible perspective on enabling property technology. THE OPPORTUNITY: COMPOUNDING VALUE WITH AI Strategic multifamily companies must be simultaneously bold and wary about AI, adapting now w…