The Future of Real Estate: An Interview with Nikki Greenberg on AI, Smart Cities, and the Power of PropTech

In this edition of Conversations in the Park, we chatted about the world of real estate and how it’s being transformed by artificial intelligence, data, and PropTech. Timothy Papandreou , our host of Conversations in the Park Podcast, had the privilege of sitting down with Nikki Greenberg , a renowned thought leader in real estate technology, to discuss what the future holds for cities and the spaces we live in. Check out the interview below:

Tim Papandreou: Nikki, we usually talk about technologies that move people, but today we're focusing on the spaces in between—buildings and smart cities. What excites you most about AI’s role in shaping the future of real estate?

Nikki Greenberg:

What excites me most is how AI is enabling buildings to do things smarter. I’m particularly interested in AI’s role within the physical structures themselves. A great example I recently discussed is a project with Kone Elevators. They’ve designed elevators that allow robots to autonomously call and use the elevator to move between floors. I imagine this world where in hospitals you have autonomous porters or in hotels, robot butlers moving freely throughout the building. It’s these types of integrations that will revolutionise how buildings operate and how people interact with them.

Tim: That’s fascinating! So it’s not just about AI being some far-off concept. It’s already shaping the spaces we move through daily. How do you see AI influencing the future of smart cities on a larger scale?

Nikki:

Exactly! People often think of AI as some futuristic, complex technology, but really, it’s about optimisation. In the context of cities, AI is helping buildings and urban spaces become more efficient. One example is energy usage. AI can analyse and optimise the electricity used in a building, reducing waste and saving money. It’s like having a smarter version of current systems that knows when to act and how to improve operations without human intervention.

What’s really exciting is how AI can work quietly in the background, making our cities more liveable without requiring drastic changes from the people who live there. When you combine AI with technologies like IoT and clean tech, the possibilities for smarter cities are endless.

Tim: It sounds like AI is set to fundamentally change how cities function, especially in terms of efficiency and sustainability. But we know that real estate has traditionally been slow to adopt new technology. What’s holding the industry back?

Nikki:

The real estate industry is extremely risk-averse, and for good reason. If a building fails, people’s lives are at stake. The challenge is that when new technologies or materials are introduced, they often don’t meet the strict safety and building codes that are in place. As a developer or investor, there’s no incentive to take the risk on something that could go wrong. This caution means we tend to stick to the way things have always been done.

That’s why you see the industry moving slower in adopting technologies like AI or robotics, despite the incredible benefits they offer. But we are starting to see shifts, especially as sustainability becomes more important and regulations push for greener solutions. The key is integrating these technologies in ways that don’t disrupt the established processes but enhance them.

Tim: Speaking of sustainability, AI and PropTech seem like powerful tools for creating greener cities. How can these technologies reduce the environmental impact of construction and urban development?

Nikki:

One big issue in construction is that about 35% of materials end up going to landfill. That’s incredibly wasteful. AI can help predict exactly what materials are needed for a project, reducing over-ordering and waste. By being more accurate, we can cut down on costs and improve sustainability at the same time.

AI can also help optimise energy usage in buildings, which ties back to reducing the overall carbon footprint. Whether it’s managing heating and cooling systems or monitoring energy demand in real time, AI can make buildings more efficient and environmentally friendly.

Tim: It’s clear that the integration of AI, data, and PropTech is reshaping how we approach real estate and urban living. Looking forward, what do you think the future of cities will look like?

Nikki:

I believe the future of cities will be about creating spaces that work for us, not the other way around. We’ll see more mixed-use spaces where people can live, work, and play all in one area. Cities won’t be just about office buildings or residential areas anymore. Technology will allow us to use spaces more flexibly, adapting to the needs of people at different times of the day or week.

And, of course, AI will continue to optimise everything in the background—whether that’s transport systems, energy use, or even how buildings interact with us. It’s an exciting time because we’re only just scratching the surface of what’s possible with smart cities.

Tim: It’s inspiring to think about where we’re headed. Thank you, Nikki, for sharing your incredible insights.

For those who want to learn more, make sure to check out the full episode of Conversations in the Park, where we dive even deeper into the future of cities and urban living.

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