Artificial intelligence is taking the world by storm. From Waymo self-driving technology for autonomous cars to Amazon Echo, Google Home, smart toys, and smart home monitoring, we will see more and more artificial intelligence incorporated into our daily lives. In the apartment property management business, people are our most important asset. Can artificial intelligence effectively replace human intelligence or is there more to the story? Read on to learn more.
A Summer of Intelligence
The Dartmouth Summer Research Project on Artificial Intelligence is widely considered to be one of the founding events of artificial intelligence as a field. A small group of mathematicians and scientists met for a series of summer brainstorming sessions in 1956 to clarify and develop ideas about thinking machines. John McCarthy, an assistant professor of Mathematics for Dartmouth, selected the term ‘Artificial Intelligence’ for this new field of research.
Lightning Speed to Today
Let’s fast-forward 63 years later to 2019 and present day. What does artificial intelligence bring to the apartment property industry? Deep learning artificial intelligence algorithms can now identify your face, interpret your language(s) and reply to your voice. Bots (software applications programmed to do certain tasks) can now respond to resident and potential resident inquiries.
AI and the Apartment Industry
Residents and potential residents, while sitting in their jammies on their comfy couches at all hours of the day and night, can tap into artificial intelligence services that answer phones, set appointments, inquire as to availability, help residents pay rent, manage energy billing, set maintenance appointments and more.
Balance is Key
As in all aspects of life, we find balance is key. Without human interaction, we can lose our finger on the live pulse of our apartment properties and our apartment residents. Automation can make it easier for residents to cancel, move, complain without human interaction. This can leave a property manager without a chance to understand a potential concern or be able to effectively provide a solution.
Digital Dashboard Training
Even apartment management training can now be delivered in a digital dashboard format where new apartment employees are unknowingly driven through deep learning online algorithms. But is this type of training truly smart?
Live classroom interaction taught by an experienced apartment industry instructor who brings decades of hands-on experience is hard to duplicate. The dynamics of live interaction help to teach human skills and compassion to effectively deal with the complexities of apartment resident concerns. While some fundamentals can certainly be learned effectively in this type of format, others need that human touch. Again, balance is key.
When everyone knows everyone and there is human connection, we are more apt to pay attention and notice when comings and goings and schedules go awry. We become more engaged in our communities when we reach out and get to know our neighbors at the human level. Community-building efforts are priceless.
The Future of Effective Apartment Property Management
Walking the apartment properties, frequently introducing staff to residents, getting involved in community events and participating in the bigger community-at-large helps to create a real sense of home and community. This, in turn, creates trust and long term apartment residents. While Alexa can play songs from your play list and order a cherry apple cobbler pie to be delivered, it can’t know that your neighbor lost their job and is struggling with rent or got promoted and will be moving soon.
Blending Artificial Intelligence with The Human Touch
We like to refer to the unique blend of artificial intelligence and the human touch as human intelligence. At Better World Properties LLC, we embrace the integration of new technologies with the human touch.
Apartment Process Improvement
Have you assessed your current apartment properties for process improvements and ways to ROI? We specialize in Texas property management, apartment operations and multifamily investments. We are also active across the United States. To can read more about our full service apartment management and apartment investment capabilities, please click here.
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