From Pilots to Production: AI’s Shift in Real Estate

Written by:

Steve Marcinuk

Date:

08 Apr 2026

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The commercial real estate industry is entering a pivotal moment in artificial intelligence adoption. Nearly half of all firms are experimenting with AI tools, yet few have moved from pilot programs to full-scale implementation.

Eglae Recchia, Chief Operating Officer at Keyway, has observed these trends through her experience in commercial real estate and financial technology over the past two decades.

AI Adoption Gap

Survey data from 150 professionals highlights a gap between intention and action: 45% are piloting AI solutions, but only 9% have deployed them at scale. This demonstrates the challenge of moving from enthusiasm to practical execution.

Many firms start with general-purpose AI tools for commercial real estate tasks. Recchia notes that relying on platforms like Copilot or GPT often leads to disappointing results because these tools lack industry-specific knowledge. “Commercial real estate is not a place where you want to hallucinate from an LLM perspective. You need concrete answers based on real numbers,” she explains.

This is driving demand for AI solutions tailored to commercial real estate, focused on the industry’s unique data, workflows, and decision-making requirements.

Specialized AI Solutions

Many firms are shifting focus from broad software tools to specialized AI solutions for real estate. These platforms often support three main functions: data intelligence, deal management, and workflow automation.

A modular approach allows firms to address specific problems without replacing entire technology stacks. By implementing targeted modules, companies can improve efficiency while keeping existing systems in place.

Automating Workflows

One significant area for AI impact is the underwriting process. Underwriters traditionally spend up to 70% of their time drafting documentation rather than analyzing deals.

AI-based narrative automation can generate comprehensive underwriting narratives quickly, using inputs such as offering memorandums, Excel models, and asset details. Early users report substantial time savings, showing that automation can improve efficiency in commercial real estate workflows.

Faster Customization

Customizing commercial real estate software used to require months of work. AI now allows components to be rapidly reconfigured to match firm-specific processes.

This modular approach reduces implementation timelines from months to weeks, making tailored solutions practical and affordable for firms of all sizes.

Technology Budgets and Competition

Despite ongoing concerns about technology spending, research shows that roughly half of firms plan to increase AI budgets in 2026. Rather than cutting costs across the board, companies are reallocating funds to technology that provides measurable results.

This shift is also changing market dynamics, as firms offering faster, more adaptable AI solutions gain traction and challenge more established vendors.

Expanding AI Use Cases

AI adoption in commercial real estate is evolving organically. Tools that began with a single function, such as lease abstraction, are now being used to automate NDAs, joint venture documents, and other routine tasks.

Workflow automation allows teams to focus on higher-value tasks instead of manual document review. Integrating insights directly into transaction workflows is becoming a common practice across the industry.

Data Strategy and Compliance

Data sourcing and regulatory compliance remain key concerns. AI platforms that rely on publicly available data allow firms to maintain compliance while still accessing comprehensive market intelligence.

Some platforms use algorithms to aggregate and score data quality, helping users identify relevant market comparables and flag potential discrepancies. This ensures that AI outputs remain actionable and reliable.

Practical AI Adoption

The main takeaway is that AI delivers value by automating routine tasks, allowing professionals to focus on analysis and decision-making. Effective solutions do not replace expertise but remove administrative barriers and enable higher-value work.

For commercial real estate professionals, the lesson is clear: prioritize AI solutions that solve concrete workflow challenges and deliver measurable results. Broader adoption will follow as firms see tangible efficiency gains.

About the Expert: Eglae Recchia is Chief Operating Officer at Keyway, with over two decades of experience in commercial real estate, financial services, and technology. She has held leadership roles at Berkadia, Goldman Sachs, and Altus Group, and now advises firms on integrating AI and technology to improve workflows and operational efficiency.

This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.