The adoption of artificial intelligence has shifted from abstract future possibility to urgent business priority: a matter of talent recruiting and retention, culture, and competitive positioning. This was a recurring theme attendees heard throughout the day at NAREIM’s Data & Information Management meeting in Nashville this week.
Younger professionals, many of whom use generative AI and LLMs in their personal lives, arrive in the workplace expecting to see tools and processes that mirror their own digital habits. They are growing impatient when they see lack of progress on AI adoption, meeting attendees shared.
“The young kids all want it,” one member said.
AI levels the playing field for junior employees. While hiring consultants can help jump-start AI adoption, several members noted that a bottom-up approach, driven by junior staff, can be just as effective.
“The interns have just as much experience with AI as the expensive consultants,” members heard. “All our interns are involved with our AI pilot projects.”
Technology adoption is not solely a question of efficiency gains for real estate investment managers, but also an issue of culture and differentiation in the marketplace.
To foster a culture of innovation, one NAREIM member firm is staging an AI implementation competition, with prizes and bragging rights, members heard.
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