Hey, I've seen a lot of buzz in the marketplace for "AI underwriting tools".
Curious if you guys have used any in your roles for acquisitions or asset mgmt.
Currently developing a solution where it extracts texts and financials from OM, rent roll, T-12 and puts it into a rudimentary pro forma. Eventually it'll be able to create aa CIM based on that. Also have a "deal view" going on where you're able to view all of the deals you've uploaded and specifics including submarket data, crime data, synthesize docs (property inspections, loan docs, insurance docs) etc and it'll give you some compliance insights too.
Currently beta testing it with an institutional GP.
Based on the most helpful WSO content, AI and machine learning are indeed making significant strides in the finance industry, including underwriting and acquisitions. Here are some key points:
AI in Underwriting and Acquisitions:
Current Applications:
Development and Beta Testing:
For more detailed insights, you can refer to the live Q&A with Arctic AI on Wall Street Oasis, which discusses the automation of roles in the IB/PE world and the success of AI solutions in value creation at the portfolio company level. Here is the link for further reading: https://www.wallstreetoasis.com/forum/private-equity/qa-ai-will-automat…</a">Q&A: AI will automate many roles in the IB/PE world.
Sources: Q&A: AI will automate many roles in the IB/PE world. A live Q&A with Arctic, who are recruiting finance professionals to help manage that change, Q&A: AI will automate many roles in the IB/PE world. A live Q&A with Arctic, who are recruiting finance professionals to help manage that change, Career advice needed: Acquisitions vs Asset Management, Acquisitions - How active is your pipeline?, https://www.wallstreetoasis.com/forum/real-estate/your-worst-work-experiences?customgpt=1
I ran through a product demo of https://assistant.proda.ai/
I wanted a free trial but they said no dice so I can't comment on what it can really do.
I'm also interested in using some OCR solution to pull all OM data into a database for internal comp use. @REmonkey2 let me know where you get with your solution.
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