Innovation Partnership between M J Mapp and Travtus leads the way with Artificial Intelligence and commercial management
March 15 – London, UK
M J Mapp and Travtus have entered into an Innovation Partnership to encourage research and development in Machine Learning models for commercial Property Management. Working with M J Mapp Travtus will expand their AI solutions through their AI Property Manager called ADAM, to the complex market of commercial properties.
Tripty Arya, the founder and CEO of Travtus said “The success of AI in the property industry completely relies on the quantity and quality of data. We are very proud to announce our partnership with M J Mapp which means ADAM now has over 1 million data points to churn through in his artificial memory. Good quality data from progressive partners helps to create statistically relevant data sets for generating real AI which is beyond the gimmicks of rule-based chat bots”.
One of the biggest issues in property management today is the time lost to the inefficiencies of administration and bottlenecks at decision points due to the shortage of experience. The use of machine learning allows us to institutionalise industry knowledge. M J Mapp is leading this innovation by engaging in research and development for solutions that combine both technology and operational expertise. ADAM’s creators believe that Artificial Intelligence can help solve this problem for the industry.
“The point of AI is not to take away from the human but to allow a human to be more human. The qualities of empathy, imagination and conviction are very human. These are qualities that a good property manager will have. We have started requiring our humans to act like robots; they have to follow scripts and protocol, they are made to log everything in order to perform. But this is not the best and most human way of doing things. Our greatest capability is thinking outside of scripts and protocol. For everything else, we can train ADAM”
Robert Stark, Senior Executive Director for Property Management Strategy & Operations at MJ Mapp believes that innovation is a priority. He says, “Developing and utilising new technology to provide a world-class property management service is critical to enhancing service levels across the industry and as the leading specialists in the property management sector, this is something we have made a priority. The wider technological landscape forms a core part of our response to occupational and client requirements and M J Mapp’s scale and structure allow us to deliver an extremely flexible ecosystem, anticipating and leading property technology developments and incorporating these into our service delivery and internal platform. We are delighted to be working with Travtus on this leading-edge project”.
About M J Mapp
M J Mapp is a market leader in the management of commercial and mixed use property and employs nearly 300 people to manage around £11 billion of commercial property and 4,500 occupiers throughout the United Kingdom for a variety of leading funds, REIT’s and other investors in Real Estate.
Travtus is a London based Artificial Intelligence Research & Development company with an aim to automate aspects of property management by 2021. Travtus has a focus on data collection and domain specific machine learning models for the real estate industry. This research is given commercial form as “ADAM” an AI property manager.