Precisely Teams Up with Generali Real Estate to Accelerate AI Innovation with Trusted Data

Precisely last week announced that Generali Real Estate, one of the world’s largest real estate asset managers, would use Precisely’s data enrichment expertise to improve its artificial intelligence (AI) efforts. Precise Points of Interest (POI) data is assisting Generali Real Estate in extracting more meaning from location data, hence supporting AI developments that are revolutionising the real estate industry.

When Generali Real Estate created a dedicated section for AI and machine learning (ML) innovation, one of its initial goals was to disrupt traditional real estate investment decision-making processes. The researchers observed that up to 60% of the change in asset prices over seven years could not be explained without additional data. This underlined the need for enhanced data to deliver more in-depth insights.

To solve these difficulties, Generali Real Estate created City Forward®, an innovative cloud-based location information platform for real estate investment managers. The platform uses Precisely POI data, as well as data from other third-party suppliers, to give detailed information on company locations, recreational hotspots, and other geographic characteristics. This data provides hidden information about real estate assets, allowing for better investment decisions.

“Ultimately, without data context, there is no such thing as AI in the field of location intelligence,” said Costanza Balboni Cestelli, Head of Data Intelligence and Innovation at Generali Real Estate. “Precisely provides us with access to accurate, consistent, and contextual enrichment data that helps power our AI/ML models in a way that is both scalable and reliable.”

City Forward provides intelligence for investment research and real estate appraisal using over 800 factors and 30 distinct AI/ML models, including sustainability issues like carbon emissions and climate action. Insights from Precisely POI data may also be used for a variety of other purposes, such as retail site selection, urban planning, and geomarketing.

According to research, 94% of corporate executives think that AI will be important to success in the next five years, yet 47% say their data is not AI-ready. This reveals a troubling disparity between AI adoption rates and trust in the data that underpins these models.

“For trusted AI, you need data integrity, and that means ensuring the accuracy, consistency, and context of the data fueling AI models,” said Tendü Yoğurtçu, PhD, Chief Technology Officer at Precisely. “To ensure trusted business decisions powered by AI, it’s crucial for organizations to be able to integrate data at the speed it’s needed, understand and govern its responsible use, observe and improve its quality, and enrich it for maximum context.”

Precisely provides a unique mix of software, data, and data strategy services to assist enterprises globally in using trustworthy data for advanced analytics and AI efforts. The company’s extensive data enrichment offering includes over 400 datasets and more than 9,000 characteristics, including POI datasets, to assist clients in realising the full potential of their data.

Generali Real Estate’s use of Precisely’s data enrichment solutions is a significant step forward in the integration of AI into the real estate market. Precisely has been named