CHICAGO–A typical client for Nicholas Bartzen,an associate with Levenfeld Pearlstein's CommunityAssociation Group, would be a condominium representative whosebuilding has anywhere from four to 500 units and whose board has aquestion that needs to be responded to quickly. The answer can mostlikely be found within the condo's governing documents but asBartzen tells GlobeSt.com, “the way these documents have beenwritten is anything but uniform.”
To find the clauses that he needs within these documents,Bartzen turns to an application called Diligen,which uses machine learning — a type of artificial intelligencethat self-corrects and learns as it receives more information — toscan the governing document. To be sure there are otherapplications on the market that offer similar AI-driven scanningservices; Bartzen likes Diligen because he says it is aimed at hisniche practice of law. Other applications that he vetted, he says,“didn't have the algorithms that I need for my clients.”
AI Makes Its Way Into Real Estate Tech
It has become a cliche to say that real estate has been slow toadopt technology. In the last few years, though, the industry hasmade strides in many areas — apps now proliferate in such areas astenant-landlord communications or asset management.
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