This conversation explores the transformative impact of AI on the real estate industry and how professionals can adapt and thrive amid rapid technological change. The panel examines the growing importance of AI literacy, the evolving skill sets required for long-term success, and the ethical considerations surrounding AI in both education and industry.

Panelists emphasize the need for organizations to thoughtfully adopt AI tools to improve efficiency and drive innovation, while also navigating the challenges and opportunities created by this technological shift.

Panelists:
• Sam Chandan, Founding Director & Professor, Chen Institute for Global Real Estate | NYU Stern
• James Robert Scott, Director, MIT/CRE Real Estate Transformation Lab & Director of Industry,
MIT Center for Real Estate, Massachusetts Institute of Technology
• Moderated by: David Franklin, Industry Principal for Commercial Real Estate and AI, Yardi

Key Takeaways:
• AI is rapidly reshaping the real estate industry, and professionals must adapt to remain relevant.
• AI literacy is becoming essential for success in an evolving job market.
• Offloading low-value, repetitive tasks to AI enables greater focus on strategic decision-making and relationship building.
• The industry is still in the early stages of AI adoption, presenting significant opportunity for early movers.
• Education must evolve to incorporate AI tools alongside ethical considerations.
• AI can significantly enhance individual performance, productivity, and efficiency.
• Organizations need to rethink workflows and processes to fully leverage AI’s potential.
• Ethical considerations are critical when applying AI in both education and professional settings.
• Curiosity and experimentation with AI tools are crucial traits for professionals navigating this shift.
• The future of real estate will involve deeper integration of AI across roles, functions, and decision-making processes.