🏠 AI Bots Manage Nearly 2.5 Million Homes in the US
Over 2.5 million apartment buildings—or nearly 8.5% of the total number of homes in the US—are using the New York-based startup Elise AI's utility automation and property management platform.
The company raised $75 million in investment in August, at a current valuation of more than $1 billion.
🛠 What AI Superintendents do
Chatbots from Elise AI handle all sorts of household issues over the phone or in text messages. AI assistants take maintenance requests, manage appointments, receive complaints about disturbances, send reminders about pending bills, and make arrangements to show homes to potential tenants.
AI property managers ask follow-up questions, sometimes helping the renters troubleshoot maintenance issues on their own. For example, if the bathroom has a leak, the bot will send a video with instructions on how to shut off the water.
Each bot has its own "character" and tone of communication: strict, polite, or humorous.
Aside from being available through chat, text, and email 24/7, the bots can interact via voice. They speak eight languages with different accents.
Sometimes, residents send gifts to their "concierge" to thank him for his work or want to meet him—and are surprised to learn that an AI bot had been helping them all this time.
💰 Economy and efficiency
According to Elise AI, virtual concierges reduce rent arrears by half and improve utility efficiency by 40%. McKinsey Global Institute estimates that the adoption of artificial intelligence could bring as much as $180 billion to the property management industry.
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