Deutsche Bank’s asset management division DWS Group has announced it has entered into a strategic partnership with Artificial Intelligence-powered real estate asset manager Skyline AI and became an adolescence shareholder in the company.
Founded in 2017, Skyline AI headquartered in New York, U.S. and offices in Tel Aviv. The company uses AI and Machine-Learning technology to offer data-driven insights to property and data to help clients classify real estate investments. Skyline AI can source, analyze, acquire, manage and sell institutional-grade real estate investment opportunities across the US. The company has a number of backers comprising Sequoia Capital, Nyca Partners, JLL, TLV Partners and has received a reported USD18 million in its series A funding round. Board member and Co-head at DWS, Pierre Cherki said that in becoming a partner and shareholder in Skyline AI, DWS would be able to leverage its product capabilities to support clients and further invest in real estate opportunities.
Cherki further noted that collaborating with an early-stage company that utilizes AI to strengthen efficiency and enhances the real estate investment process supports the company’s overall aim of pursuing value for their clients through comprehensive and innovative investment strategies. Moreover, Skyline AI pointed out that DWS’s real estate research team, in collaboration with Skyline AI’s data scientists, would work to develop Skyline AI’s technology. Skyline AI co-founder and CEO, Guy Zipori said that the commercial real estate market is on the cusp of a seismic change, and those who are willing enough to adopt new strategies and technologies are going to mold the new economic reality. As one of the largest players in the industry, DWS has the innovative spirit to lead the market in the adoption of advanced technology,” Zipori added.