AI4CRE Articles Glossary – BOMA Canada

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The AI4CRE Knowledge Centre is designed to help building owners, managers, and operators better understand Al. It offers free access to reports, studies, and guidelines covering a range of topics. By bringing together the latest information, we aim to encourage collaboration and innovation in the commercial real estate sector.

Resources By Category

Building Operations

Six Areas Where AI is Changing Commercial Real Estate – BOMA Canada
BOMA BEST Smart Pre-Game – BOMA BEST
BOMA BEST Smart GamePlan – BOMA BEST
AI’s Growing Impact on Commercial Real Estate – NAIOP
AI in commercial real estate: Benefits, drawbacks and strategies – BPM
Generative AI can change real estate, but the industry must change to reap the benefits – McKinsey & Company
7 Ways To Integrate AI Into Commercial Real Estate – Forbes
How generative AI is transforming what’s possible in commercial real estate – EY
Artificial Intelligence’s Potential Impact on the Commercial Real Estate Industry – ULI
Using data, AI, and cloud to transform real estate – MIT Technology Review
Artificial Intelligence: Real Estate Revolution or Evolution? – JLL
AI in commercial real estate: Current applications and future trends – LeaseUp
How AI is affecting the commercial real estate sector – Globe and Mail
Navigating the AI Revolution: A Blueprint for Real Estate Executives – NAIOP
Putting the Power of AI to Work for CRE – Realcomm
AI is Changing CRE and Creating New Opportunities – Realcomm
The Transformative Power of Artificial Intelligence in Real Estate: Insights, Challenges, and Opportunities – Real Estate Institute of Canada
Unlocking the Power of AI in Buildings: Three Ways to Optimize Building Design, Performance, and Asset Management – Schneider Electric
AI in commercial real estate: Benefits, drawbacks and strategies – bpm
How Long Until AI Replaces Commercial Real Estate Analysts? – Propmodo
7 ways AI in commercial real estate is changing the game – BuildingEngines

Data Management

Artificial Intelligence’s (AI) Impact on Commercial Real Estate – RICS
Data readiness in the age of generative AI – Accenture
The generative AI advantage: A leader’s guide to using your data as a differentiator – AWS
A data leader’s technical guide to scaling gen AI – McKinsey & Company
The data science revolution – Is the CRE industry stuck in the past? – Altus Group
Strengthen data privacy so AI can catalyze success in real estate – EY

Sustainability

How AI can help cut real estate carbon emissions – World Economic Forum
Artificial Intelligence and the role for ESG in real estate – Knight Frank
AI has an environmental problem. Here’s what the world can do about that – UNEP
How can AI accelerate the decarbonization of real estate? – Fast Company
AI is an accelerator for sustainability — but it is not a silver bullet – World Economic Forum
Explained: Generative AI’s environmental impact – MIT
The Uneven Distribution of AI’s Environmental Impacts – Harvard Business Review
Powering artificial intelligence: A study of AI’s environmental footprint—today and tomorrow – Deloitte
AI and ESG: An introductory guide for ESG practitioners – Australian Government
AI and sustainable commercial real estate: driving green initiatives – mri

Security and Privacy

Privacy in an AI Era: How Do We Protect Our Personal Information? – Stanford University
Artificial intelligence and its implications for data privacy – Science Direct
Exploring privacy issues in the age of AI – IBM
AI, data governance and privacy – OECD
AI is here. How can real estate navigate the risks and stay ahead? – JLL

Mitigating AI Risks In Commercial Property Management – Re-Leased

Glossary of Terms

CONTENT GENERATED BY AI

A

Algorithm

A series of step-by-step instructions or rules used by computers to perform tasks or solve problems.

Analytics

The discovery, interpretation, and communication of meaningful patterns in data, often powered by Al.

Application Programming Interface (API)

A set of tools and protocols that allow software applications to communicate and share data, often enabling Al integrations across platforms.

Artificial General Intelligence (AGI)

A theoretical form of Al that can understand, learn, and apply knowledge across a wide range of tasks, similar to human intelligence.

Artificial Intelligence (AI)

A branch of computer science focused on building smart machines capable of performing tasks that typically require human intelligence.

Augmented Reality (AR)

Technology that overlays digital content onto the real world, useful in CRE for virtual property tours or architectural previews.

B

Big Data

Massive volumes of structured and unstructured data that can be analyzed by Al to reveal patterns, trends, and associations.

Bias (in Al)

A systematic error introduced into Al systems due to prejudiced training data or flawed algorithms, which can lead to unfair outcomes.

Bot

An automated software program that performs tasks-often repetitive ones-without human intervention. Chatbots are a common example.

Building Information Modeling (BIM)

A 3D digital model of a building’s physical and functional characteristics, enhanced by Al for simulation, maintenance, an Microsoft optimization.

C

Chatbot

An Al-powered conversational agent that interacts with users via text or speech, widely used for tenant inquiries and support.

Computer Vision

A field of Al that enables machines to interpret and analyze visual data like photos, videos, and real-time camera feeds.

Convolutional Neural Network (CNN)

A deep learning algorithm commonly used in image recognition and analysis, such as interpreting security footage in buildings.

D

Data Lake

A centralized repository that allows for the storage of structured and unstructured data at scale for analysis by Al systems.

Data Mining

The process of discovering patterns and relationships in large datasets using statistical and Al techniques.

Deep Learning

A subset of machine learning that uses neural networks with multiple layers to model complex patterns in large amounts of data.

Digital Twin

A virtual replica of a real-world asset-like a building-connected via sensors and updated in real time to mirror physical performance.

E

Edge Computing

Processing data at the edge of the network (close to the source) rather than in a centralized cloud, improving speed and efficiency for smart buildings.

Energy Optimization

The use of Al to monitor and control building systems (like HVAC or lighting) to reduce energy consumption and cost.

F

Facial Recognition

A computer vision application used to identify or verify individuals from images or video, used in access control systems.

Feature Engineering

The process of selecting and transforming variables (features) in raw data to improve the performance of Al models.

G

Generative Al

Al models (like ChatGPT or image generators) that can create new content such as text, images, or designs based on prompts or training data.

Geospatial Analysis

The use of geographic data to inform decisions, such as evaluating site locations or market demographics in CRE.

H

Hyperautomation

The use of advanced technologies (including Al and RPA) to automate complex business processes end-to-end.

I

Internet of Things (IoT)

A network of connected devices that collect and exchange data, often integrated with Al to automate building systems and environments.

L

Large Language Model (LLM)

A type of Al model trained on vast amounts of text to understand and generate human-like language. Used in document analysis and chatbots.

Lease Abstraction

The process of extracting key terms from leases using Al to simplify and organize contract information.

M

Machine Learning (ML)

A subset of Al that enables computers to learn from data and improve performance without being explicitly programmed.

Model Training

The process by which an Al system learns from data by adjusting internal parameters to minimize error in predictions or outputs.

N

Natural Language Processing (NLP)

A field of Al that helps computers understand, interpret, and generate human language. Useful in lease analysis, chatbots, and virtual assistants.

Neural Network

A machine learning model inspired by the human brain, consisting of interconnected nodes (“neurons”) that process data.

P

Predictive Analytics

The use of data, statistical algorithms, and Al to predict future outcomes-like rent trends or equipment failures.

Prescriptive Analytics

Al-driven recommendations for actions to take based on predicted outcomes (e.g., when to raise rents or adjust energy usage).

PropTech (Property Technology)

Technology used to optimize how people buy, sell, lease, manage, or invest in real estate-including Al, IoT, and digital platforms.

R

Recommendation Engine

An Al system that suggests options to users based on their behavior or preferences-such as finding similar properties or services.

Reinforcement Learning

A type of machine learning where an agent learns by trial and error, receiving rewards or penalties based on its actions.

Robotic Process Automation (RPA)

Technology that uses software robots to automate routine tasks like data entry, document processing, or lease management.

S

Smart Building

A property that uses connected technology and Al to automate systems like lighting, climate, access, and energy usage.

Supervised Learning

A type of machine learning where the model is trained on labeled data (i.e., with known outputs).

T

Tenant Experience Platform

A digital tool that uses Al to tailor services and communication, improving tenant satisfaction and engagement.

Tokenization (in Al)

The process of breaking text into smaller parts (tokens) so it can be understood and processed by Al models.

U

Unstructured Data

Information that doesn’t follow a specific format-like emails, videos, or social media posts-often analyzed using Al.

Unsupervised Learning

A type of machine learning where the model finds patterns in data without being given labels or predefined categories.

V

Virtual Assistant

Al-powered tools that help users by performing tasks like scheduling, answering questions, or managing workflows.

Virtual Reality (VR)

A fully immersive digital environment, used in CRE to offer virtual tours or simulate design changes.

Y

Yield Optimization

Using Al to adjust variables like pricing and occupancy strategies to maximize returns on commercial properties.

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Do you have a report, study, or guideline you’d like to share with the community? Reach out to us at ai4cre@bomacanada.ca, and we’ll include it in our resource hub.

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