Barry Sternlicht, chairman and CEO of Starwood Capital Group, issued a statement expressing concern about the potential impact of artificial intelligence on the real estate industry. Sternlicht stated that he will need to reduce the workforce to align with the evolving technological landscape. He anticipates a strategic shift focused on utilizing AI-driven technologies for property management and investment analysis. While not explicitly detailing the exact number of employees affected, Sternlicht emphasized a need for adaptation and resource allocation within the company. His comments reflect a growing discussion regarding the integration of AI within the real estate sector.
Credits: US Top News and Analysis
