Savills enhances AI tools with MRI partnership
The global advisory firm has adopted MRI’s lease management tools and jointly developed algorithms to automate processes within Knowledge Cubed, Savills’ analytics platform.
As part of an extended agreement, Savills will expand its integration of MRI’s artificial intelligence-powered data abstraction tool, MRI Contract Intelligence powered by Leverton AI, to include MRI ProLease, a cloud-based solution for lease administration, lease accounting, lease analysis and workplace management.
Savills said the long-term partnership will accelerate AI and machine learning capabilities for Knowledge Cubed, helping clients to better understand and optimise their investments.
Abstraction tools like those developed by MRI automatically extract important information from leases, streamlining otherwise lengthy processes.
The partners have jointly developed a data model to accelerate document abstraction and structuring for corporate occupiers. They said the algorithm will allow smaller teams to quickly set up digital applications within Knowledge Cubed and highlight actionable insights within their portfolios.
Saurabh Abhyankar, chief product officer at MRI, said: “Corporate occupiers require access to data historically locked away in leases to effectively manage and re-evaluate their portfolios.
“The expanded integration of Leverton AI automates and simplifies the complex data extraction process, enabling Savills’ clients to easily access and analyse data from leases, contracts and legal documents.”
Patrick McGrath, chief information officer and head of client technologies at Savills, said: “By integrating our algorithm within Knowledge Cubed applications, we are able to provide clients an unparalleled speed and scale advantage that helps analyse portfolios in real time with access to the source documents in one click.”