San Francisco’s commercial real estate market has been struggling in recent years. The high cost of living and the rise of remote work have led to an increase in vacancies and a decline in rents. However, artificial intelligence (AI) is emerging as a potential solution to these problems.
AI is being used to make the commercial real estate market more efficient and profitable. Even companies that aren’t technically AI-driven are using AI to be more efficient. MosaicML, a generative AI platform company, recently upgraded its office space in San Francisco. The hope is that AI will create the next big ecosystem in which companies that might not be purely AI could benefit off that technology and grow.
San Francisco’s mayor, London Breed, is hopeful that AI can help turn a new chapter in San Francisco, which has had one of the slowest pandemic recoveries of any major city. The future of AI is happening right now in San Francisco, and it presents a possible bright spot in terms of new growth in the future.
AI is changing the game for San Francisco’s commercial real estate market. With AI companies driving office leasing demand and making the market more efficient and profitable, there is hope that the market can be revived. San Francisco’s economy is changing, and AI is at the forefront of that change.