Platform – The real estate industry has undergone significant transformations in recent years because of technological advancements. The development of real estate technology, or “PropTech,” has been greatly influenced by the rise of artificial intelligence (AI). A recent study found that the global PropTech market was worth USD 25,145.1 million in 2021 and is expected to grow at a CAGR of 15.8 percent between 2022 and 2030.

This Proptech Platform Makes Use of IoT, AI, And SaaS to Streamline and Connect Property and Service Management:

The PropTech market is expanding due to the rising popularity of cutting-edge technologies like AI and the Internet of Things (IoT). The real estate industry has become more customer-focused, streamlined, and efficient as a result of these advancements.

The capability to simplify and streamline data management is one of the main advantages of AI in real estate. Property managers can make data-driven decisions regarding the properties they own because AI algorithms are capable of processing and analyzing huge amounts of data. In the commercial real estate industry, where property managers are in charge of managing large portfolios of properties, this is especially crucial.

Understanding customer preferences and making recommendations has also become easier thanks to AI. AI algorithms can provide insights into what customers want and need from properties by analyzing customer data and behavior. Because of this, property managers can select the properties that they want to offer their clients and how best to market those properties.

Adjusting advertising activity is another way that AI has transformed the real estate industry. Real estate brokers can identify patterns and trends in their data with the assistance of AI, enabling them to deliver ads that are more tailored to the specific needs of their clients. For instance, if a customer is looking for a particular kind of property, like a beach house, AI algorithms can find properties that are similar to that one and suggest those properties to the customer.

An Israeli start-up is currently utilizing these technological advancements to connect and streamline property and service management, uniting the entire ecosystem under a single virtual roof: MyTower.

Solution for all aspects of property management:

MyTower is a cutting-edge platform that provides all-encompassing solutions for property management. It makes use of cutting-edge technologies like SaaS, IoT, and AI to empower customers, making it suitable for both property owners and residents. MyTower services are available for a wide range of properties, including offices, multi-family homes, residential condominiums, and commercial properties. We also provide a marketplace for IoB solutions, facilities management, human resources, super resident apps, on-demand concierge services, tenant loyalty programs, and rent collection.

The fact that MyTower functions as an integrated system, resulting in seamless synergies between properties, workflow segments, online innovation and elements of the real world, supply and demand, residents, communities, and leading platforms, is a feature that sets it apart from other systems. Customers can take advantage of cutting-edge service management solutions because the platform serves as a neighborhood operating system.

One of MyTower’s most important features is the Resident Super app. Residents can access a variety of property managers’ services and amenities through our one-stop shop. A communication channel for residents to connect with property managers and a concierge service for on-demand requests are two of the app’s features. In addition, there is a tenant loyalty program that rewards residents for making their rent payments on time and participating in other activities that benefit the community.

Conclusion:

In 2023, AI completely transformed real estate technology and the real estate industry, and we anticipate that this trend will continue. The industry is becoming more customer-centric, streamlined, and efficient as more cutting-edge technology is being used. Real estate agents and brokers can post personalized listings, property managers can make decisions based on data, and buyers can take virtual tours of properties with the assistance of AI. MyTower is contributing significantly to the development of cutting-edge solutions that will further transform the real estate industry as the PropTech market continues to expand.