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April 30, 2024

Prophia CEO, Cameron Steele, Discusses the Future of CRE Tech on the “Category Visions” Podcast

Category Visions, a Front Lines Media podcast, is known for interviewing some notable individuals in the world of B2B innovation. From MIT researchers to finance moguls, previous episodes of the show have covered topics such as diagnostic innovation, logistic optimization, cloud solutions, and more.

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The episode began with Cameron discussing his 30-year history working in technology. His career ultimately began with the .com boom working for Oracle in the 90’s. He then transitioned to a capital allocator role within the Royal Bank of Canada, RBC. So it isn’t surprising that Cameron’s background led him to establish his own AI-backed software solution for leaders and lenders in CRE.

As one of the largest asset classes in the world, Commercial Real Estate has incredible market influence, however, leading CRE firms work with some of the poorest quality data in the business world today. As a result, crucial customer data is locked away in complex lease agreements leading to organization-wide inefficiencies and frequent gut checks.

“We focus on tenant and lease data,” Cameron explained, “That is all about revenue to a building.” With machine learning and natural language processing, CRE Prophia extracts key data from every page of every lease found in their portfolio. The data are then synthesized by AI, verified by a human, and aggregated to create a repository of structured dashboards and high-fidelity lease abstracts that all link back to their original source.

“In commercial real estate, there is no such system that owns and represents customer data—at least not until we got involved. We are trying to become that system of record for their tenant data. Everything [CRE leaders] could ever want to know about their tenant data is captured here about their agreements.”

To hear the rest of Cameron’s conversation with Brett Stapper, you can listen to the full episode of the Category Visions podcast on Spotify or at Front Line Media.

Prophia is the CRE industry's leading AI solution for lease abstraction and portfolio optimization. To discover more about our next-gen CRE data management solution, head to the Essential Package page and discover how Prophia can help accelerate business for your team.

Hannah Overhiser

Hannah is Prophia's Content Marketing Manager and a seasoned B2B and B2C marketer. Her career began in eCommerce consulting with a focus on code testing. This technical expertise transferred seamlessly to SEO and she started working agency-side as an SEO and Content Strategist. Today, her home is Prophia, and she puts...

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