• AI's massive first mover advantage

  • Jul 9 2024
  • Length: 41 mins
  • Podcast

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AI's massive first mover advantage

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  • What a pleasure it was to speak with L.D. Salmanson, Co-founder and CEO of Cherre, for this week’s podcast. Cherre is dramatically transforming real estate investment and management by leveraging cutting-edge data science and AI to consolidate massive amounts of data (including users’ own data – it’s NOT easy to do but Cherre have done it), so they can find opportunities across all aspects of their operations in seconds. L.D.’s use case examples are crazy: ‘I am looking for this kind of asset, with these exact demographics, with these kinds of tax breaks, in this type of market’ – and boom! out comes a selection for you to look at. You won’t believe what Cherre can do and, if you are anything like me, you’ll want to set up an account as soon as you finish listening! Alas, however, the tool is only being used currently by some of the top institutional investors but, L.D. assures me, making it available for mere mortals like thee and me is on their horizon. Spend a few minutes tuning in to hear one of the foremost leaders in moving real estate into the future in this episode with L.D. Salmanson. Cherre's core functions: Building detailed asset models to reduce expenses while increases revenues. Creating sensitivity tables so investors can identify optimal investment (or divestment) strategies. Connecting disparate data with advanced tools to detect anomalies and find opportunities. Key Points Discussed: Advanced Tools: Data retrieval, integrity, conversational bots, GPT Omni model for omni-channel interactions. AI Capabilities: Vision, voice, text interpretation; future potential for smell interpretation. Platform Functions: Builds asset models, sensitivity tables; connects disparate data using entity resolution engines, knowledge graphs, machine learning, AI to detect anomalies. Data Processing & Visualization: Uses Snowflake, Google, Microsoft, Power Bi, Click, Tableau. Technological Highlights: Autoregressive models, attention mechanisms, large language models (LLMs) in natural language processing. Don't miss L.D.'s insights on the inevitable integration of AI into real estate, the efficiencies it brings, and his use of GPT Omni to streamline presentation prep. Cherre stands as a visionary leap in data-driven real estate management. From L.D. Why should real estate professionals be paying attention to AI today? AI is set to revolutionize real estate similarly to how it transformed financial services, automating intermediary processes and enhancing decision-making. Those who adapt early will gain significant advantages, while late adopters risk falling behind​​. How do you use AI daily? What tools and apps do you like to use? I use GPT Omni extensively for preparing weekly company presentations, reducing preparation time from 8-10 hours to 2-3 hours. I also use Claude for interactive idea discussions and refining presentation content​​ . Can you think of an easy win that somebody could do immediately after listening today? An easy win is building asset models with AI. By inputting an assumptions table into a model, AI can populate the inputs and create sensitivity tables, reducing manual errors and saving significant time​​. ***** The only Podcast you need on real estate and AI. Learn how other real estate pros are using AI to get ahead of their competition. Get early notice of hot new game-changing AI real estate apps. Walk away with something you can actually use in every episode. PLUS, subscribe to my free newsletter and get: • practical guides, • how-to's, and • news updates All exclusively for real estate investors that make learning AI fun and easy and insanely productive, for free. EasyWin.AI
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