Dallas-based Dottid, a proptech company disrupting the commercial real estate industry for asset managers and their teams, announced Dottid AI, which marks the company’s initial move towards empowering asset management teams with a suite of AI features within Dottid.
Dottid CEO Kyle Waldrep said the new AI features represent the company’s belief that “great technology is the foundation of strong asset performance.”
Asset operations are “more critical than ever” in commercial real estate, Waldrep says. Dottid will “continue to build and expand feature sets” in response to market needs.
The firm said that the first version of Dottid AI is designed to seamlessly integrate into the daily operations of CRE teams. The feature will roll out to all Dottid users in the fall.
It uses individualized portfolio data of Dottid users to expedite CRE workflows and quickly retrieve real-time portfolio information. That all happens via an intuitive chat interface powered by AI, Dottid said.
With it, CRE teams can make well-informed decisions, enhance performance, and ensure data accuracy in a way that fits naturally into their existing workflow, Dottid said.
With direct access to a user’s specific portfolio data and insights, the company said that Dottid AI becomes an “indispensable assistant” to an asset management workflow and provides a dynamic help desk to ease onboarding and ensure users fully utilize the features within the platform.
‘A powerful yet user-friendly tool’
In September Dottid AI will debut at CREtech in New York, which bills itself as the Built World’s Largest Innovation and Sustainability Event.
Dottid Chief Technology Officer Senecca Miller thinks the CRE industry is “about to witness a transformation” thanks to Dottid’s AI tech, which gives asset managers with “instant portfolio insights and data-driven decisions.”
It’s more than a flashy tech add-on: “We are excited to offer asset managers and CRE teams a powerful yet user-friendly tool that will give them an edge over competitors and streamline their operations like never before,” he said in a statement.
Highlighting the company’s forward-thinking approach, the CTO emphasized Dottid’s role as “pioneers in the proptech industry, pushing boundaries and delivering innovative solutions.”
Last fall, Dottid’s chief technology officer Senecca Miller spoke with Dallas Innovates about how the company was evolving. Over the previous year, Dottid focused on “doubling down on client success and cultivating strong partnerships,” the CTO said.
That also included the creation of specialized vertical engineering teams to better align with customer needs, and “invested heavily” in developing leaders on its engineering, product, and sales teams, he said at the time.
Dottid VP of Engineering Vidroha Debroy, an adjunct professor at SMU who joined Dottid in 2021, said the company’s integration of AI capabilities offers a host of new opportunities for users.
“Dottid is leading the way in this innovative transformation that will revolutionize asset management for commercial real estate,” he said.
Last year, CTO Miller noted clients were “heavily leaning” to automation and data realization. The CTO outlined key areas of increased demand:
- Automation – Clients want to be able to set up processes once and have downstream actions happen automatically in an event-driven way.
- Data utilization – Customers are looking to make data-driven decisions, so they want their asset data to be readily accessible and actionable.
- Asset data ownership – There is a move away from marketplaces toward prioritizing ownership and control of asset data.
- Integration – Seamless integration with third-party tools is becoming more important, rather than an all-in-one platform approach
Dottid aims to “truly affect” organizational change, Miller previously told us. The best solutions are focused on the customer: “We view transformation through the lenses of cooperation.”
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