# AI will never replace jobs in the property market
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2020-01-07
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: AI Disruption in Property Management: A CEO's
Meta Description: Discover how AI is set to revolutionize the property management industry, streamlining processes and increasing efficiency while preserving jobs.
URL: https://financedigest.com/ai-will-never-replace-jobs-in-the-property-markethtml

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_By **Tom Shrive**, CEO of askporter_

_Though Artificial Intelligence (AI) is a hot topic for businesses right now, it has so far failed to shake up the property industry in the same way it has transformed sectors such as banking and healthcare. In this article, Tom Shrive, the founder of askporter, Google-assistant’s only international investment, explains how the property management sector is ripe for AI disruption, and why this burgeoning tech will not jeopardise jobs._

AI is an inescapable buzzword at the moment and has become an essential part of the [technology industry](https://www.financedigest.com/how-blockchain-technology-can-help-the-fashion-industry-make-verifiable-green-claims.html "How Blockchain Technology Can Help the Fashion Industry Make Verifiable Green Claims"). However, the emergence of AI has not come without controversy, provoking polarised responses from the general public.

By definition, [artificial intelligence](https://www.financedigest.com/types-of-artificial-intelligence.html "artificial intelligence") is technology that can perform human-like tasks. AI mimics human behaviour and learns to adapt through [machine](https://www.financedigest.com/machine-learning-engineer-jobs.html "Machine learning engineer jobs") learning and problem solving.

For many, there are fears that our increasing dependence on AI will generate widespread [unemployment in jobs that](https://www.financedigest.com/u-s-job-growth-picks-up-in-june-unemployment-rate-rises-to-5-9.html "U.S. job growth picks up in June; unemployment rate rises to 5.9%") could, in theory, be automated.

Yet AI has already made a huge impact within diverse [sectors such as agriculture and manufacturing](https://www.financedigest.com/expansion-in-manufacturing-sector-has-increased-demand-for-industrial-cooling-system-market.html "Expansion In Manufacturing Sector Has Increased Demand For Industrial Cooling System Market"), without eliminating jobs. In reality, the introduction of AI to these industries has helped individuals carry out their jobs more efficiently, reducing the time spent on tedious and time-consuming tasks, which could be better handled automatically.

In light of this, the property industry seems comparatively stagnant due to its reliance on traditional methods, making it [well positioned](https://www.financedigest.com/fed-keen-to-be-well-positioned-to-act-on-inflation-other-risks-minutes-show.html "Fed keen to be ‘well positioned’ to act on inflation, other risks, minutes show") for disruption with the successful implementation of AI.

**Why [is property management](https://www.financedigest.com/how-to-get-started-in-the-world-of-property-management.html "How to Get Started in the World of Property Management") ripe for AI disruption?**

Having managed a small property portfolio, I discovered that there are numerous administrative tasks that could be better managed with the assistance of [automated technology](https://www.financedigest.com/covid-19-makes-the-case-for-technology-and-automation-for-business-development-in-professional-services.html "Covid-19 Makes the Case for Technology and Automation for Business Development in Professional Services").

Though straightforward, tasks such as collecting rent, updating financial records and organising and logging household maintenance, are hugely time-consuming.

Traditional property management methods mean that it can take [days or even weeks](https://www.financedigest.com/transitioning-into-a-4-day-week.html "Transitioning into a 4 day week") of toing and froing between tenant and contractor to organise a suitable time for a repair, waiting for parts, and handling invoices.

**How can AI be better incorporated into the property ecosystem?**

The efficacy of the property management [industry could be vastly improved if irreplaceable human experts](https://www.financedigest.com/fiat-republic-the-specialist-baas-platform-that-bridges-web3-and-banks-announces-the-appointment-of-two-industry-experts-as-non-executive-directors-to-the-board-of-its-dutch-subsidiary.html "Fiat Republic, the specialist BaaS platform that bridges web3 and banks, announces the appointment of two industry experts as Non-Executive Directors to the board of its Dutch subsidiary.") worked in tandem with sophisticated AI technology to simplify certain aspects of the job.

AI has the potential to make managing spaces simple and remove laborious legwork. With AI, a boiler repair, for example, could be organised automatically, so that property managers could focus on issues that cannot be resolved by [automated solutions](https://www.financedigest.com/automated-intralogistics-material-handling-solutions-market-estimates-the-market-to-expand-at-14-cagr-through-2031.html "Automated Intralogistics Material Handling Solutions Market Estimates The Market to Expand at 14% CAGR through 2031").

**AI’s [current opportunity](https://www.financedigest.com/global-sulfate-free-body-wash-market-business-opportunities-current-trends-growth-market-forecast-global-industry-analysis-by-2029.html "Global Sulfate Free Body Wash Market: Business Opportunities, Current Trends, Growth, Market Forecast & Global Industry Analysis By 2029") and role**

AI has already improved and simplified so many aspects of our everyday lives. Though we may not realise it, [millions of us interact with AI in some way every day](https://www.financedigest.com/royal-mail-says-uk-business-losing-one-million-pounds-a-day-amid-union-clash.html "Royal Mail says UK business losing one million pounds a day amid union clash").

Our interaction with [virtual assistants](https://www.financedigest.com/virtual-assistance-to-pave-the-way-for-europe-urethral-bulking-systems-market.html "Virtual assistance to pave the way for Europe Urethral Bulking Systems Market") like Apple’s Siri, Amazon’s Alexa and Google Assistant reflects this. And this is only the beginning. New advances in AI, such as driverless cars, are well underway.

Just as Siri or a Google Assistant can help [save time](https://www.financedigest.com/modernisation-of-insurance-technology-saves-invaluable-time-and-money.html "Modernisation of insurance technology saves invaluable time and money") by ordering the weekly food shop or turning on the heating at home, AI could revolutionise the way household issues are resolved for tenants, streamlining the process for all parties.

**What are the lines of demarcation between humans and AI?**

For some, AI might conjure up frightening images of robots taking over our jobs and homes. But the increasing use of AI shouldn’t be a thing to fear, nor is it far away in the distant future.

One of the foremost concerns surrounding AI in [the property industry is that machines will eventually develop](https://www.financedigest.com/bridging-finance-for-property-development.html "Bridging Finance for Property Development") to outperform humans, leading to unemployment. But this is not true [because AI cannot replace humans](https://www.financedigest.com/human-robotics-will-robots-replace-bankers.html "Human Robotics: Will Robots replace Bankers?") to perform all tasks. AI has been specifically developed to simplify repetitive and time-consuming processes; freeing up [time for property managers](https://www.financedigest.com/a-guide-to-luxury-property-investment-in-the-time-of-covid-19.html "A guide to luxury property investment in the time of COVID-19"), letting agents and contractors to deal with more pressing problems.

There are a number of prop-tech start-ups beginning to disrupt and reform the industry, utilising [advanced technology to improve property market infrastructure](https://www.financedigest.com/cardiac-valvulotome-market-growth-latest-trends-top-players-competition-technological-advancements-outlook-and-forecast-2028.html "Cardiac Valvulotome Market Growth, Latest Trends, Top Players, Competition, Technological Advancements, Outlook and Forecast 2028").

There are always [risks associated with new technology](https://www.financedigest.com/how-the-global-insurance-market-will-keep-pace-with-evolving-risks-through-data-analytics-and-technology.html "How the global insurance market will keep pace with evolving risks, through data, analytics and technology"), especially when it aims to disrupt current practices. But the successful implementation of AI in order to accelerate processes and [improve efficiencies](https://www.financedigest.com/improved-patient-safety-efficient-dose-administration-and-seamless-interoperability-for-advanced-infusion-delivery-are-several-advantages.html "Improved patient safety, efficient dose administration, and seamless interoperability for advanced infusion delivery are several advantages") across the board makes it a risk worth taking.


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