Pan-European real estate investment manager Patrizia has acquired a strategic stake in Evana, a provider of data management services including artificial intelligence technology for the real estate industry.
Patrizia has said it plans to use Evana’s software to digitalise its own management processes, following the completion of a successful pilot programme. The processes will be centralised on both a corporate and operational level, and will also include the management of its €40 bn of real estate assets under management.
'Patrizia is in the process of extensively digitalising the company and the Evana platform will make a significant contribution to this,' said Dr Manuel Käsbauer, Patrizia's head of innovation & technology.
'We see great potential in the intelligent solution from Evana as we believe artificial intelligence has a crucial role to play in enhancing the way we work in the real estate industry for our clients.'
According to Patrizia, the Evana technology, which applies self-learning algorithms to extract and evaluate large volumes of data, will enable the firm to better analyse its own corporate, property and transaction data, and achieve greater efficiencies through automated reporting.
