AI tools became a part of our everyday life seemingly overnight. The question now is, what do we do with them?
Matias Recchia, Co-founder & CEO of Keyway, took the Innovation Stage at this year’s New York City Real Estate Forum to explain how AI is helping real estate professionals be better at their jobs.
“AI is the most revolutionary thing that has happened to real estate since Excel,” said Recchia, whose company uses a mixture of public real estate data and individual data sets to streamline the most tedious aspects of the business. “If you build the right guardrails and you train the data in a consistent way, you can get outputs that are very, very accurate.”
In a wide-ranging conversation with Seth Rogin, TRD’s Chief Commercial Officer, Recchia talked about the opportunities and pitfalls he sees in the constantly-evolving AI space. Instead of being everything to everybody, Keyway’s AI agents automate specific tasks, not only saving real estate professionals time but giving them access to insights that were previously unknowable in a world where data had to be manually entered and manipulated.
“A lot of what we do at Keyway is train data sets with specific data,” explained Recchia. By turning basic tasks related to rent rolls, leases and loans over to bespoke AI agents, Keyway enables real estate professionals to focus on the interpersonal aspects of their jobs instead of “spending time behind their computer.”
Because, in the end, AI should work for you, not replace you.
“What made people successful in real estate is the ability to have a vision, to rethink what a neighborhood can become, what a building can become,” said Recchia. “What AI is really good at now, and what I think is exciting for professionals in real estate, is taking care of all of the other stuff.”
Visit Keyway’s website to learn more.