Providence Managing Director Justin Dufresne leads VHB’s Real Estate & technology initiative, helping to identify opportunities to enhance client communication and project efficiencies using technology. As part of his ongoing efforts to identify trends and technology solutions for the real estate industry, he recently attended the RETCON Conference, an annual real estate innovation conference that brings together land developers, property owners and managers, investors, startups, and market leaders to share insights on the future of the commercial real estate market.
This year, conversations focused on cutting-edge technology solutions, deep dives into key U.S. markets, and what lies ahead for the industry. Here are Justin’s three main takeaways from the conference:
AI is being leveraged to increase efficiency. AI trends in real estate are quickly advancing and transforming the industry. Many prominent real estate companies are adopting internal GPT systems and increasing investments in training and shared learning to promote employees integrating these programs into their daily workflow. The Chief Technology Officer for JLL, a global real estate firm, noted during a panel discussion that their internal GPT was adopted faster than any other program and is now used by an average of 25,000 employees monthly.
VHB has been at the forefront of channeling AI to increase efficiency and streamline projects. As early adopters of AI and machine learning transformation, we developed and have been using our own GPT, ChatVHB, for about two years to improve project workflow and save time. Additionally, VHB was an early user of Microsoft Copilot, a generative AI-powered assistant tool that amplifies productivity, streamlines operations, and provides users with data-driven insights.
Strategic Partnerships are key for harnessing transformative technologies. Many companies are identifying and partnering with small startup tech companies to leverage their services. Rather than invent the technology in house, companies are drawing on these relationships to offer tech solutions for real world applications and client use.
VHB has a history of partnering with technology companies to create long-lasting relationships that drive the industry forward. Our partnership with Autodesk has helped us simplify and streamline real estate projects through the integrated modeling solution, InfraWorks. By leveraging programs like InfraWorks, our clients can visualize their projects early in the design process to make informed decisions that save time and money as the project advances.
Drones can aid information capture and streamline project timelines. Drones are being deployed to capture images and inventory multiple sites across the country, yielding significant efficiencies and cost savings compared with traditional information gathering methods. Developers can then utilize AI to analyze these images and identify key areas requiring further evaluation or attention. This practice helps prioritize repairs and streamline project timelines.
As a national leader, VHB has been harnessing a similar technology with our Reality Capture to collect site data quickly and expedite early conceptual designs. This practice helps our real estate clients better understand site constraints and opportunities and supports them in making informed decisions with accurate information.
Read about how VHB leverages our comprehensive services through an integrated approach to provide our clients with innovative real estate solutions.
