For as long as there have been computers to program, there have been attempts to make programming easier, faster, less technical, and available to a much broader audience. No-code stands for a family of tools that allow people to build applications and systems without having to program them in a conventional way. Instead, the core functionality is accessible through visual interfaces and guided user actions, as well as pre-built integrations with other tools to exchange information as needed.
No-code AI could be the cornerstone in the future of the real estate industry for businesses that want to harness the power of AI without the need for deep technical skills. Here are four benefits of no-code AI that can transform the real estate industry:
Allows automation of specific tasks
Most firms in the real estate industry are overwhelmed with manual tasks, and AI can automate these to help commercial organizations and real estate occupiers save time. Processes such as lease abstraction, contract reviews, and hunting for terms and conditions in legal documents can be handled automatically. No-code AI gives real estate executives and analysts the ability to benefit from this tool, even without an IT background.
Scales with your business
No-code AI’s biggest advantage is that it can adapt to your business needs as they grow and change. End users don’t have to have a deep technical background to tailor the system or make adjustments. As your business expands, the solution can learn your new requirements over time and easily scale to meet your needs.
Can be used for predictive analytics
Artificial intelligence can be used for more than just documentation and lease management, however. While no-code AI can automate your business’s regular processes and pull key data from your leases, it also has the potential to be used for predictive analytics. AI has the capability to understand the terms that it extracts from a contract, which could give an occupier or lease administrator the ability to make better decisions and budget more accurately.
Quick training for regular tasks
With any AI-powered tool, the end-user will need to “train” the system by introducing it to sample documents so it can learn what to look for and how to accomplish certain tasks. With no-code AI, this process can be done quickly, and once you’ve trained it to identify the type of information you need, whether it be a key term or critical lease clause, the system becomes more accurate every time it reads a document.