Commercial properties are facing reduced demand due to continuing remote work and the possible lower need for workers due to emerging artificial intelligence technology. Although fewer workers are working remotely than during the pandemic, office buildings are still underutilized. This has increased the risk for insurance companies, property owners, banks and investors. Artificial intelligence technology will allow some companies to reduce their workforce, but newly created AI companies will need office space. How that will affect office space has yet to be determined.
Todd Rissel, co-founder of e2Value, a leading SaaS platform that provides asset valuation tools, discusses these issues in the investing.com article A New Wave in Commercial Property Valuation Prompts Questions About the Market’s Future.