10:50 1 March 2025
AI in Real Estate: Opportunities and Concerns
Artificial intelligence promises efficiency and better customer service in real estate, yet its adoption faces hurdles. Magdalena Wiszniewska-Dwojak, an expert from Lege Advisors, highlights key concerns.
A major challenge is data fragmentation. AI relies on structured data, but real estate information is scattered across various systems, making integration costly. Data security is another issue – mishandling personal and financial data could lead to legal trouble and reputational damage.
Legal uncertainties also slow adoption.
“The law hasn’t kept pace with AI’s development, limiting its use in real estate. Clear regulations are essential for trust and security,” Wiszniewska-Dwojak said.
Bias in AI decisions raises ethical concerns, especially in an industry dealing with high-value transactions. While AI holds great potential, these unresolved issues keep real estate firms cautious.
(WBJ)
