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Survey: Institutional Real Estate Has AI Readiness Problem
By its own reckoning, institutional real estate has an artificial intelligence readiness problem. The industry rates its own AI maturity at 5.7/10, data quality at 6.2/10 and governance readiness for AI at just 5.1/10, according to a survey conducted by the National Association of Real Estate Investment Managers (NAREIM) and Juniper Square.
Among the 38 firms surveyed, 91% have already deployed Microsoft Copilot, and more than half use ChatGPT or Claude. “Tools have proliferated, but the organizational foundations they depend on have not kept pace,” according to NAREIM.
A follow-up survey is planned for September. “In the meantime, the window to act on these findings is not as long as most firms probably think,” wrote Brandon Sedloff, chief relationship officer at Juniper Square. “AI capabilities are moving fast, and the firms that start now on data governance, centralized infrastructure and getting their organizations ready will build advantages that compound quickly and become harder and harder for later movers to catch up to.”
- ◦Development
