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.”