How much time can AI/automation save the property industry?

The potential time-saving capabilities of artificial intelligence (AI) and automation in the property industry are endless, according to Roby.ai.

The virtual assistant says that AI can be used to make any workflow or process across the property management sector quicker and more efficient.

Automation technology could completely revolutionise the property industry, transforming a huge number of tasks from taking minutes or hours to just a matter of seconds.

Roby.ai conservatively estimates, for example, that an AI assistant could save the average letting agent over 2.5 hours in a typical day.

Alongside residential letting agents and property managers, AI technology can be utilised effectively by commercial property professionals or companies that manage the freehold of buildings.

Chasing rent, arranging for contractors to visit properties, organising deposits, referencing and daily administration are just some of the key tasks which can benefit from automation.

However, according to Roby.ai, the beauty of AI is that its potential has no limits. It can be customised to automate any process and tailored to support the way in which an individual works.

“With just a few examples, it’s clear to see the amount of time that property professionals can save by automating key tasks,” says Tom Reiss, CEO and Co-Founder of Roby.ai.

“As well as helping to save time and become more efficient, taking this approach can boost team morale as people spend less time doing repetitive tasks. It also allows them to spend more time working on the ‘bigger picture’ and growing a business.”

“When considering AI, it’s important to bear in mind that each individual and the way in which they work is completely different,” Reiss says.

“However, when you factor in the comparison between a human and a machine, a person could take up to 15-20% longer to carry out a task – an estimate that we believe to be fairly conservative.”

Offer Peylan, Roby.ai’s Chief Product Officer, explains:

“The potential for AI is limitless but in order for it to be used to its full potential, UK property professionals need to be more open-minded and embrace its versatility.”

“’How much time can this automation and this technology that we hold save people, and in how many different areas can it be used in?’ – these are the questions business leaders need to be asking if they want to stay ahead of the competition in an increasingly technology-driven industry.”

“Failing to take note and adopt automated processes now could see businesses struggling to keep up, becoming irrelevant and increasing the risk of them having to cease operations over the next five to seven years,” he says.

You can find out more about Roby.ai or request a demo here.