Continuing our exploration of CRE technology, in this post we will look at Skyline AI, a data gathering/analysis tool that capitalizes on machine learning to take commercial real estate investment to a whole new level. Investors have found this concept so intriguing that the company recently secured $18 million in funding.
What is Skyline AI?
Skyline AI is a platform that uses artificial intelligence to help commercial real estate investors find the most profitable deals with the greatest risk-reward ratio. The platform gathers information daily from 130 sources, and analyzes 10,000 different attributes for every multi-family property in the country, going back as far as 50 years.
Some of the data gathered includes: commercial real estate analytics, proprietary data, stock market performance, interest rates and financial indicators and more.
The platform then utilizes its powerful AI to analyze the data and develop precise predictions of prices, rents, effects of renovation, and other information to enable investors to have a much clearer view on the future of their investments.
How is it transforming CRE?
Skyline AI goes beyond traditional data collection to provide a broader view of a potential transaction and its outcome. While there are several platforms that offer a centralized location for property information, such as rental costs, tenant turnover, etc., none of them take that information to make accurate predictions about the future of a property. Skyline AI, however can make such predictions within seconds.
What this does is enable investors to have a full picture of a property – past, present, and future – so that they can make purchasing decisions knowing that they have the best risk-reward ratio. In fact, the company acquired two condo complexes in Philadelphia for $26 million after the platform discovered the properties were being mismanaged.
According to Skyline AI CEO Guy Zipori:
“We developed a platform that injects advanced AI directly into the core of the acquisition and ownership process, leveraging the largest dataset in the industry to predict the performance of any asset in the U.S. We provide our partners and investors with cutting-edge asset analysis in the shortest amount of time, adding value to any commercial real estate investment, on or off the market.”
As the company grows, it is developing partnerships with other businesses in the commercial real estate industry. For example, in July it announced a partnership with Greystone Labs, a commercial real estate investment and advisory company. In return for additional industry insights from Greystone, Skyline AI is providing access to its predictive technology, allowing Greystone to underwrite loans faster and with greater accuracy.
This type of technology is incredibly exciting and transformational for the commercial real estate industry. By using machine learning to be able to predict outcomes with 94% accuracy, investors will now be able to capitalize on opportunities they may not have shaken a stick at previously.
We would love to hear your thoughts. Comment below on what you think about Artificial Intelligence making its way into more areas of our lives, such as CRE!
Missed our other articles about CRE Technology? Check them out: