The AI Revolution in Real Estate: 37% Cost Savings
"Woven Global CEO Burak Ustaoğlu stated that artificial intelligence is fundamentally transforming every process in the real estate sector, from development to sales. Citing Morgan Stanley data showing the technology delivers 37% savings in labor costs, Ustaoğlu emphasized that a management process that once required 40 people can now be handled by just 4 with AI support."
AI Has Become the New Requirement for Competitiveness in Real Estate
Woven Global CEO Burak Ustaoğlu stated that the real estate sector is undergoing a significant transformation driven by artificial intelligence technologies. Noting that companies adapting to this system will grow rapidly, Ustaoğlu projects that those failing to adopt the technology will be unable to compete due to high costs and will fall behind.
Billions in Savings on the Horizon
Citing a Morgan Stanley Research study conducted across 162 real estate investment trusts and developers, Ustaoğlu shared the following data on AI's economic impact:
- Of a $92 billion labor cost base, AI adoption is expected to deliver $34 billion in savings.
- This figure represents a 37% improvement in total costs.
Full Optimization from Development to Sales
Describing AI not merely as a tool but as a strategic decision-support mechanism, Ustaoğlu highlighted three core areas where the technology is being applied:
- Development: Optimization of costs and processes during the construction phase.
- Location: Selection of the most suitable investment area.
- Sales: Management of customer inquiries and demand.
A 40-Person Workload Reduced to 4
Drawing on examples from Woven Global's own operations, Ustaoğlu noted that they use AI assistants in digital advertising and customer reception. The CEO explained that AI handles the initial response to customer inquiries and escalates to a sales representative when needed, adding: 'A process that once required 30–40 employees can now be managed by just 3–4 people with AI support.'