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As Australian innovation lags amid an AI skills shortage, a former Google executive said US strategies offer a roadmap to success.
Over half (52 per cent) of Australian respondents believe real estate is falling behind other industries in adopting technology, according to the Yardi/Property Council’s Property Technology Report.
Ahead of his keynote at the REB Innovation Summit, Google’s former head of industry, automotive and real estate (US), Dan Siegler, reveals how Australian property leaders can draw on US property trends to bridge the innovation gap.
Approximately 44 per cent of respondents noted an AI skills shortage as the most significant barrier to adoption in the Australian market, the report found.
According to Siegler, the US property landscape has rapidly embraced AI-powered tools for automated property valuation, smart property matching, virtual and augmented reality (VR/AR), and AI-driven customer service.
“The US real estate market is the innovation-proving ground that foreshadows global real estate transformation,” Siegler said.
The early adoption of AI and digital transformation in the US serves as a valuable blueprint for the Australian market.
“Australian RE leaders who proactively integrate digital technologies, embrace changing consumer expectations, and anticipate regulatory shifts will position themselves ahead of the curve and turn disruption into opportunity by making the market more transparent, efficient, and consumer-centric.”
AI is proving to be a game changer in real estate, enabling agents to work more efficiently, better anticipate client needs, and manage relationships at scale.
Automation tools like agentic AI are already gaining global traction, with 62 per cent of companies anticipating over 100 per cent ROI on the technology, according to a PagerDuty survey.
“Acting on this comprehensive understanding will enable Australian real estate leaders to leverage US innovations and market developments not just as trends to watch, but as actionable strategies that will help reshape their own market landscape for sustainable growth and competitive advantage,” he concluded.
Run in partnership with principal partner, LockedOn, the inaugural REB Innovation Summit will be held in Sydney on Thursday, 25 September, to provide a national platform for real estate transformation.
To hear Dan Siegler speak further on how US property trends can foster local innovation, come along to the REB Innovation Summit.
Click here to buy tickets and don’t miss out.
To learn more about the event, including speakers and agenda, click here.
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