At the recent PropTech Convention ’24, Osama Kalar, founder of Neurasphere, delivered an inspiring thought leadership talk on the transformative role of Artificial Intelligence (AI) and Blockchain in real estate in Pakistan. As technology rapidly reshapes industries globally, real estate in Pakistan is no exception. Kalar highlighted the immense potential of AI and blockchain to revolutionize decision-making, enhance transparency, and bring efficiency to real estate operations in Pakistan.
The real estate industry in Pakistan is at a turning point, with AI emerging as a key enabler. Kalar emphasized how AI tools for realtors are already being used globally to optimize processes, reduce human errors, and save time. For example:
One of the standout points in Kalar’s speech was the integration of AI with ERP systems in Pakistan. ERP (Enterprise Resource Planning) systems are already widely used in Pakistan’s IT industry and exported globally. By adding an AI layer to existing ERP systems, businesses can:
Kalar highlighted how AI turns raw data into actionable insights, helping realtors, builders, and developers make smarter decisions faster.
Sustainability has become a priority for the real estate industry trends 2024, and AI is playing a crucial role in achieving these goals. By analyzing energy usage, predicting maintenance needs, and optimizing resource allocation, AI enables sustainable building practices.
While AI and blockchain offer immense potential, Kalar pointed out key challenges, particularly in Pakistan. The biggest hurdle is the lack of data collection and the reluctance of stakeholders to share information. Without sufficient and reliable data, even the most advanced AI tools cannot perform optimally.
However, Kalar stressed the importance of creating a culture of transparency and collaboration. He encouraged real estate professionals to embrace digital transformation in Pakistan’s real estate by capturing, sharing, and leveraging data effectively.
During his talk, Kalar shared real-world examples of how AI tools are transforming industries:
These examples demonstrate how AI-powered decision-making in real estate is accessible to people of all ages and professions, enabling them to thrive in a technology-driven world.
Kalar made an interesting point about blockchain’s role in controlling AI. While AI provides automation and predictive insights, blockchain acts as a regulatory system, ensuring transparency and preventing misuse. By combining these technologies, the real estate industry in Pakistan can maintain ethical and sustainable growth.
As Kalar concluded his speech, he expressed optimism about the future of Pakistan’s real estate sector. With the right use of AI tools for realtors and blockchain technology, the industry can overcome existing inefficiencies and unlock its full potential.
The roadmap for the real estate industry trends 2024 includes:
Osama Kalar’s thought-provoking talk at PropTech Convention ’24 highlighted the transformative impact of Artificial Intelligence and Blockchain on the real estate industry in Pakistan. By integrating these technologies with ERP systems, promoting sustainable practices, and addressing data challenges, the sector can achieve unprecedented growth.
With AI and blockchain leading the charge, the future of real estate in Pakistan is bright, innovative, and full of opportunities. As Kalar aptly said, “The tools are already here; it’s up to us to use them wisely.”
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