Built to Perform with James Hallworth – Ep.10: Karen Burns on AI Innovation in Real Estate

In this episode of the Built to Perform Podcast, host James Hallworth sits down with Karen Burns, CEO and co-founder of FYMA, to discuss the slow adoption of technology in commercial real estate and the transformative potential of AI. Karen shares insights on utilizing existing security camera data with AI to optimize building operations, demystify AI, and push the industry forward. The conversation covers the current state of AI in real estate, challenges in data utilization, GDPR compliance, and the importance of upskilling and diverse perspectives in tech adoption. Karen also addresses the broader topic of female leadership in STEM and the need for financial support over mentorship for women in tech startups.

Timestamps:

00:00 Introduction to Technology Adoption in Commercial Real Estate
00:32 Meet Karen: CEO and Co-Founder of FYMA
00:48 How FYMA Uses AI to Optimize Building Operations
01:47 The Evolution of FYMA from Consultancy to AI Solutions
06:13 Challenges and Solutions in Data Utilization
09:04 Addressing Privacy Concerns with AI and CCTV
12:21 Transitioning to Commercial Real Estate
15:02 Understanding Different Levels of AI
18:49 The Future of AI in Commercial Real Estate
27:39 AI Adoption in Business: Current Trends
28:45 Strategies for Real Estate Leaders
29:25 Creating a Culture of Trust and Safety
30:57 Case Study: Innovative Real Estate Solutions
32:58 Women in STEM and Leadership
35:40 Challenges and Bias in Venture Capital
42:30 Cultural Influences on Gender Roles
43:43 AI in Commercial Real Estate: Adoption Barriers
47:49 Future of Commercial Real Estate
50:44 Conclusion and Key Takeaways