Welcome to the Propagator, your monthly AI-focused newsletter at the forefront of technology in the real estate industry. We don't just keep up with the trends; we think ahead.

The five stages of AGI by OpenAI could revolutionize real estate, where fully autonomous AI may not just assist, but completely run entire real estate firms, shifting human roles from decision-makers to mere overseers.

Our topic for today:

The impact of Artificial General Intelligence (AGI) in Real Estate

• 💰 Insights into the latest VC-fundings related to AI agents

• 🤖 What are the 5 stages from AI to AGI by OpenAI?

• 🛠️ Where are we and what is the potential of each stage for the real estate sector?

• ✏️ Prompt of the Month

Cognigy | 100 Millionen USD | Germany | Series C:
Global Leader in conversational AI to support customer service automation.

Cohere | 500 Millionen USD | Canada | Series D:
Enterprise-focused AI platform specializing in large language models that enhance business operations through advanced natural language processing.

EliseAI | 75 Millionen USD | USA | Series D:
Uses advanced AI agents to automate leasing, resident engagement, and operational workflows across multifamily and single-family properties.

Langdock | 3 Millionen USD | Germany | Seed round:
Langdock is a GDPR-compliant AI platform that boosts team productivity by automating workflows and ensuring secure, seamless integration with enterprise tools.

OpenAI announces when AI becomes the Decision-Maker in Companies

• AGI To Outperform Human Capability. OpenAI is monitoring its advancement towards achieving artificial general intelligence (AGI), which aims to surpass human capabilities across most tasks. The company uses a framework of five levels to measure its progress toward developing this advanced AI.

• A modular supercomputer built to birth AGI could be online by next year. AI startup SingularityNet plans to launch a "multi-level cognitive computing network" aimed at developing artificial general intelligence (AGI) that could surpass human cognition.

• OpenAI's new technology "Strawberry" aims to enhance AI reasoning capabilities beyond current models, enabling advanced problem-solving and planning that mimics more complex human cognition processes.

• AI achieves silver-medal standard solving International Mathematical Olympiad problems. DeepMind's AI systems, AlphaProof and AlphaGeometry 2, achieved a silver medal level in solving International Mathematical Olympiad (IMO) problems, demonstrating advanced mathematical reasoning capabilities.

The Journey to Autonomous Real Estate companies

What does it mean when we translate the stages into our industry?

Stage 1: Basic Task Execution (Agents like Siri or Alexa):

• AI agents automate simple tasks like answering client queries, providing market statistics, and managing property listings through natural language processing, improving customer service and streamlining initial interactions with potential clients (e.g. Goldbeck, eliseais)

Stage 2: Task Execution with Limited Interpretation:

• AI agents autonomously review and analyze legal contracts, flag critical clauses, suggest amendments, and execute predefined actions, such as renegotiating lease terms, enhancing accuracy and reducing manual errors while ensuring reliable and consistent real estate processes 

Stage 3: Complex Task Execution with Increased Freedom:

• AI agents autonomously conduct detailed location research, analyzing factors like demographics and rental yields, while multi-agent collaboration improves coordination between real estate agents, developers, and managers, streamlining project execution and investment decision-making

Stage 4: Advanced Data-Driven Innovations:

• AI systems analyze vast, unstructured datasets to generate innovative real estate utilization concepts, such as repurposing commercial spaces into mixed-use developments, while enhancing software quality and reducing errors, resulting in highly reliable tools for managing large-scale projects and improving operational efficiency (companies like AlphaFold Protein Structure Database (ebi.ac.uk))

Stage 5: Fully Autonomous Real Estate Companies:

• AI agents autonomously manage entire real estate operations, from acquisitions to property management, enabling highly efficient and scalable businesses by automating repetitive tasks and allowing humans to focus solely on strategic decisions. These AI systems continuously learn from market data to optimize performance and enhance decision-making

Where we are now: Early stage of level 2. Within one year we’ll have level 2 fully.

How I can build my own Chatbot (for customer / tenant interaction) ?

Basically that is not to difficult and just mimicking of what you are already doing. Hence, a clearly outlined process helps when setting up a chatbot.

What you have to do is to set up a series of question and define for each what can be the outcome and the follow up question. Each question can be connected to different data sources, like all prior tenant communication and all of its contracts, and the bot can look that information up, to give answers or ask the right questions. 

This also means that old mails, communication and any other information you have about this tenant becomes valuable in this process.

Also you can use prior communications with different tenants to figure out how you have dealt with issues previously. Just give the AI all previous communication and ask to cluster all issues and what the usual solution to it was. This “set of rules” then can be integrated into your chatbot and will automatically be applied.

The prompt is designed to streamline the process of categorizing and forwarding tenant enquiries or complaints to the appropriate department or person in a property management company.

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Thank you for joining our Propagator newsletter. Stay tuned as we continue to explore the technologies shaping the future of real estate.

See you next time!

Nino, Cosima & Jan
Your Propagator - Team