Step by step, the digital transformation is taking hold in the real estate and finance industry — yet there are still processes that take not only a lot of time but also require significant personnel resources. A good example is the extraction of land-register data. Together with dida Datenschmiede GmbH, an expert in AI-based document processing from Berlin, on-geo now shows how it can be done better.

With AI to a new efficiency standard

Instead of having staff manually type out information from land-register extracts, the integration of the AI solution smartextract into our property valuation software Lora enables fast, easy and digital extraction of all relevant data at the push of a button. By embedding smartextract in our webshop geoport, we are already able to significantly optimise the lead times for digitising land-register content. The same applies to the processing of entire portfolios. The offering is complemented by the possibility to embed smartextract into third-party systems in future. This way, whole sequences of processes can be digitised, simplified and made more efficient in terms of cost-effectiveness.

Finance and real estate industry benefit from AI integration

By using artificial intelligence, the time required for the procedure is reduced from several days to just a few hours. That not only brings immense time savings, but also positively affects personnel capacities and the related costs. The susceptibility to errors such as typing mistakes is minimized, so that users can ultimately present significantly higher data quality.