SPR Seminar: Gen-AI, 20 March 2024
Fifth Dimension A1, Huckletree, W1D

On the 20th of March 2024, the Society of Property Researchers (SPR) seminar, graciously hosted by Fifth Dimension AI at Huckletree on Oxford Street, delved into the intriguing realm of Generative AI and its potential impact on property research. Malcom Frodsham from Real Estate Strategies led the seminar as chair, guiding attendees through a thought-provoking exploration.

Malcolm commenced the proceedings by unveiling insights from a recent survey dispatched to UK Heads of Research, revealing a notable surge in AI utilization among research teams—a revelation that set the stage for deeper discussions.

Johnny Morris of Fifth Dimension AI elucidated the nuances between predictive and generative AI, offering a tangible example through Ellie, their AI solution. Ellie's adeptness at streamlining document-intensive workflows within real estate operations captivated the audience, showcasing the practical implications of generative AI.

Thies Lindenthal, Grosvenor Professor of Real Estate Finance at the University of Cambridge, provided an academic perspective, underscoring the extensive research landscape in AI and machine learning within real estate—a staggering 55,000 papers. He emphasized three key insights: the persistent decline in AI costs, the discernment that not all challenges necessitate machine learning solutions, and the critical importance of amalgamating real estate expertise with data science proficiency within research teams.

Hattie Walker-Arnott, founder of AI.RE, contributed a pragmatic outlook to the panel discussion, offering insights into AI's potential transformative role in real estate dialogues between researchers and investors.

Chris Dunn, Head of Insights at Colliers, enriched the discourse with insights from the agency sphere, elucidating both barriers and promising use cases for AI adoption, particularly for those embarking on their AI journey.

Following the panel discussion, the audience engaged in a stimulating Q&A session, followed by networking opportunities over drinks—a fitting conclusion to an intellectually invigorating event.

This blog may or may not have been written by AI (with the help of Chris Dunn)