Space AI from REDD predicts the future

Which office will lease the fastest, and what can be done to cut corners when spaces are empty? A new REDD tool will answer such questions. Poland's largest prop-tech startup has just completed the next stage of research work on its Space AI project. The algorithm developed by the developers based on millions of collected data will help property owners reduce the pandemic effects of "empty offices." REDD announces that property owners using REDD's online platform will be able to instantly verify the projected leasing time of space in their office buildings later this year. The system will also suggest changing the offer to speed up that time. 

"In recent months, we have been working intensively on the Space AI algorithm. After many trials, our machine learning model achieved an accuracy of more than 75 percent, which means that in a set of historical transactions in the office market, the time needed to lease these spaces was accurately predicted in the vast majority of cases. This is a significant breakthrough, and maintaining this level of accuracy in the future could be the beginning of a real revolution in preparing vacant space for tenant entry, developing negotiation strategies, and, more broadly, managing the financial liquidity of real estate," Tomasz Ogrodzki, creator and CEO of REDD. 

(WBJ)