A typical apartment building generates data on everything from leaking toilet flappers to tenant demographics, yet most of the real estate industry still runs its analysis by hand in spreadsheets. Fundrise co-founder and RealAI CEO Ben Miller argues the missing piece isn't a better AI model but a proprietary data layer that general-purpose tools can't replicate. Miller joined Ben Lorica on Generative AI in the Real World to cover how RealAI evolved from a data project into an AI-powered analyst tool, why the AI acts as an orchestrator rather than a financial calculator, which investment trends aren't yet pricing in AI's economic impact on real estate markets, and why he believes the trillion-dollar AI CapEx build is temporarily masking what will eventually be a deep trough in white-collar hiring.

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