Dear reader,
Dear Chatbot:

Please go ahead and write a column about the opportunities that AI presents for institutional investors!

This is more or less how I would phrase a query if I felt like making my job as a columnist a wee bit easier. So, what would I get in response? Probably something along these lines:

“Why AI? Because AI Offers All Sorts of Perks for the Institutional Real Estate Sector”

“It provides faster and less complicated ways of processing transactions because the communication between buyers and sellers can take place instantly. AI technologies offer a uniform communication platform that property buyers and sellers can use to communicate and exchange data with each other, thereby ensuring a speedier process flow for their transactions. On top of that, AI technologies present a more affordable alternative to the traditional way of doing business because they involve no high-priced legal fees or other expenses in the processing of real estate.”

Say what? You are not impressed? Well, perhaps a touch of background knowledge would not hurt, and perhaps the whole approach seems slightly oversimplified. But for what it’s worth: We are obviously looking at an AI app with a strong sense of purpose. Could this AI app be applying for a job as new head of transaction? And let’s be honest: Reducing legal advisory costs or eliminating them altogether sounds quite tempting, does it not? Oh dear, please erase this question from you memory immediately, not least because this exact issue was recently discussed at a super-exciting conference, the FondsRechtKonferenz event on 7 February.