In his article “The use cases for AI are becoming more specific” in the Immobilienzeitung, Ulrich Schüppler highlights the increasing importance of artificial intelligence (AI) in the finance and real estate industry. In doing so, he discusses credX in detail.

Here are some of his key statements:

• Artificial intelligence (AI) and large language models (LLM) are highly relevant for the real estate industry because it involves a great deal of work with unstructured documents. AI can make markets more efficient and data-driven.
• credX has developed an AI application to evaluate data for commercial real estate financing from numerous documents.
• Typical loan applications comprise 70-150 documents with over 1,000 pages. The AI creates a comprehensive, structured summary based on an extensive catalog of criteria within 30 minutes.
• In order to optimally implement credX’s expertise in the application, credX is working together with AI specialist Deepset
• AI reduces working hours in document analysis by 30-40%.
• credX plans to offer the developed AI software as a SaaS solution to other companies and banks as well
• In addition to the evaluation of financing and purchase data rooms, there are numerous other use cases such as contract analysis
• Other companies such as Drooms and Aareal Bank are also increasingly relying on AI solutions, e.g. for data room evaluation and receivables management.

You can find the article in IZ 48 dated 28.11.2024 on p. 10 or here.