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Retail Analyst

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Evolution of Real Estate Network Planning in the Age of AI

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GeoAI Blog Series

GeoAI Blog Series

New blogs posted monthly. Stay tune with our Newsletter!

New Research from PiinPoint: “The Evolution of Real Estate Network Planning in the Age of AI” is now ready for download!

We spent the last four months of 2023 digging into the literature on Artificial Intelligence as it applies to the real estate strategy and planning of brick & mortar retail distribution. In addition, we conducted a series of executive interviews with Real Estate and Geographic Information System (GIS) professionals across a range of sectors. Here’s some highlights!

Where is the value in adopting AI?

  • Productivity: Increasing efficiency of the real estate analysis approvals process
  • Risk Reduction: Increasing accuracy of predictions and reducing investment risk
  • Customer Growth: Identifying emerging customer behaviour and new growth markets
  • Engagement: Optimizing operations to promote customer and employee engagement
  • Profitability: Creating new jobs for long term employment expansion

But with all the benefits, there are challenges and barriers to overcome in order for Real Estate professionals within retail organizations to realize the value:

  • Strategy: Not having an AI strategy
  • Data: Not having the right data!
  • Talent: Traditional GIS professionals and Data Science teams are siloed.
  • Process: Lack of trust and transparency of the AI/Machine Learning outcomes.

So what’s new coming down the pipe?

  • Building next-generation location Intelligence tools on a foundation of GeoAI
  • Research on Explainable AI is already gaining traction to address the trust and transparency issue.

As with all good research, we were left with some final questions for the future.

  1. Will AI Technologies reduce the need for brokers?
  2. Will AI Technologies reduce the need for dedicated GIS departments within retail organizations?
  3. Will internal Real Estate Teams be disrupted by GeoAI capabilities?
  4. Will the third-party SaaS GIS solution market be disrupted by internal GeoAI investments?

Conclusion: GeoAI will disrupt location Intelligence and real estate network planning as we know it - Are you ready?

Download your “ungated” copy of the ebook here and let us know what you think!