Join Log in
Join Log in
Home / Latest articles / AI and the road to the future
Committees

AI and the road to the future

Artificial intelligence (AI) is rapidly climbing the agenda for the investment management industry. While many organisations are already using AI to improve efficiency, support data-driven decisions and enhance internal processes, progress remains uneven. The differentiator is rarely the technology itself; rather, it lies in the strength of data quality, governance and clarity of purpose.

Looking ahead, members of the INREV Technology Committee see AI less as a force of disruption and more as an enabler. The fundamentals of investment management - allocating capital, managing portfolios and delivering returns - are unlikely to change in any meaningful way. What will evolve is how organisations execute those activities, how quickly they can process information, and how effectively expertise can be scaled across teams.

The strategic path to adoption

AI adoption is best understood as a journey of maturity, not an overnight transformation. For most organisations, that journey begins by giving staff controlled access to Large Language Models (LLMs) such as ChatGPT, Copilot, or Gemini. This initial phase is more about building familiarityand creating space for experimentation, allowing teams to explore use cases in a secure environment.

Naqash Tahir, Executive Director (R&D and investments) at PGIM, outgoing Chair of the Technology Committee'Giving teams access to AI tools in a controlled environment allows organisations to explore practical use cases while building the ability to critically assess outputs.'

Without guidance on how and when to use AI tools, there is a risk of false confidence in outputs that appear plausible, but are incorrect. Training and sharing experiences help people understand both the value and the limitations of AI.

As confidence grows, organisations move beyond treating AI as a ‘Google replacement’ and begin embedding it into specific workflows. At this stage, companies should consider:

  • AI governance: Establishing clear oversight to validate tools developed internally and ensure that only tested, approved applications are used more widely.
  • Dedicated AI/IT teams: Having a team with the expertise to connect AI tools to internal systems, manage costs and maintain data integrity.
  • Human-in-the-loop: Implementing a structured review process where AI outputs are challenged and validated by experienced professionals before being used in decision-making.

As one committee member notes, 'Even accuracy levels of 60% to 80% can be highly valuable when followed by a robust revision process.'

The data challenge remains central

Fragmented systems, inconsistent data formats, and legacy infrastructure continue to limit the effectiveness of AI in real estate. While investor demand for granular data is increasing, the industry is still working to consolidate datasets.

The challenge is not a lack of data, but the difficulty of consolidating it into usable, standardised datasets. Asset-level information, valuation inputs, and reporting data often sit in disconnected systems, creating friction for both AI deployment and broader digital initiatives. Closing this gap remains one of the most significant prerequisites for meaningful AI integration across the industry.

Shifting skills and hiring priorities

AI is also reshaping workforce requirements. While technical skills remain important, organisations are placing increasing value on professionals who can interpret AI outputs and apply them within a real estate context. 

Stephen Walker, Head of AI & Technology (Real Estate & Private Markets) at Aberdeen Investments, incoming Chair of the Technology Committee ‘With the right training and support, AI will allow people to do their jobs faster, which means some traditional roles will need to evolve or change. The next generation of talent will need to combine real estate expertise with a high level of data literacy.’

Bridging differences in AI familiarity across teams will remain a key challenge. Organisations that position AI as a complement to human judgement, rather than a replacement, are better placed to build trust and adoption.

Passing the baton: A conversation on innovation

As leadership within the INREV Technology Committee transitions from Naqash to Stephen, there is a clear sense of continuity.

Naqash Tahir ’When we started this journey, the focus was on exploration, understanding where AI could genuinely add value and where expectations needed to be managed.”

Stephen Walker ‘Building on that foundation, the next phase is about integration and scale. There is a clear need to move from pilots to practical implementation, and INREV has an important role to play in helping the industry bridge the AI familiarity gap.’

INREV’s role and resources

As the industry association, INREV will continue support its members through practical guidance and insights. Relevant resources include:

Explore more on our Technology page, including our AI-powered chatbot.

Committees