REI: The AI-based information view with sights on powering hot properties – find out more with Search Acumen
Andrew Lloyd, managing director at Search Acumen, explains the launch of the company’s new Real Estate Intelligence (REI) interface — applying machine learning to create more efficient and ultimately valuable lawyer and client journeys through time-pressured property transactions.
Property is an area of law notorious for productivity and efficient delivery getting heavily mired in repetitive manual process. For decades lawyers have had to request information about properties for transactions from hundreds of different local authorities using CON29 forms. Questions can only be asked per property, which invariably produces a long pdf document for the professional to wade through. “You’re really forced to do what’s been done for decades, which is to read them one at a time sequentially,” says Andrew Lloyd, managing director at Search Acumen.
The idea is that this ‘drudge work’ now changes with Search Acumen’s new ‘Real Estate Intelligence’ (REI) proposition, introduced to the market as recently as October 2024. By training a range of AI models over time —through both Microsoft Azure and AWS — he says the business has turned those cumbersome documents into actionable data, which can be served to firms in new ways to (reliably) fast-track this vital aspect of due diligence in transactions. “We’ve taken what’s essentially a completely flat document and turned it into highly usable data,” he says.
Read the full article here https://www.search-acumen.co.uk/news/rei-the-ai-based-information-view-with-sights-on-powering-hot-properties/
