Cromwell, CT The Connecticut Chapter of the CCIM Institute hosted its Mid-Year Symposium, “AI Impact on Commercial Real Estate Analytics.” The event was held on June 5 at TPC River Highlands. The breakfast event featured presentations by Craig Scott, partner at Hinckley Allen and Joe McBride, senior director at Moody’s Analytics.

Scott, who is the chair of the firm’s intellectual property and artificial intelligence practice groups discussed practical applications of AI use in the CRE space, along with the risks and liabilities associated with its use. Scott also cautioned attendees to remain mindful of its limitations, highlighting the importance of integrating AI responsibly, with attention to regulatory frameworks, insurance considerations, and ethical safeguards while mitigating legal and financial risks.

McBride provided a comprehensive look at Moody’s approach to Generative AI. His discussion centered on how AI tools enable commercial real estate professionals to automate research, enhance underwriting precision, detect early warning signs in the market and how it can be utilized in workflows to provide better insights for decision-makers. 

Similarly, McBride also emphasized the need for careful validation of AI-generated insights and the risks of over-reliance on automated analytics without human oversight.

The symposium was moderated by Stanley Gniazdowski, CRE, CCIM, president of Realty Concepts, Inc., and president of CCIM Technologies, Site to do Business.