Today, I’m excited to share that Entrata has acquired Colleen AI, a leader in multifamily artificial intelligence, further bolstering the AI capability across the Entrata OS while providing industry-leading AI for every operator, regardless of their choice of PMS.

A New Era in Multifamily

Over the last year, Entrata Layered Intelligence™ (ELI™), the AI layer on top of Entrata’s OS, has become one of the most successful additions in our history in driving operational efficiency. ELI has streamlined tasks and workflows enabling operators to work differently than they have historically, while providing an even better resident experience.

With this success, we saw a tremendous opportunity to further bolster the OS with Colleen AI’s technology to lead a new transformative era in multifamily. Before I address the transformative benefit to our customers, I want to touch on our vision and why the addition of Colleen is so monumental.

Accelerating Our Vision of Autonomous Property Management™

We believe AI has the power to make workflows increasingly automated, making properties and portfolios more efficient while simultaneously delivering an elevated resident experience to achieve autonomous property management.

These AI capabilities will soon evolve from partial to full automation. Take self-driving as an example. It has five evolutionary levels of autonomy, Level 0 is classified as “Momentary Driver Assistance” and Level 5 as “Full Automation.” Each level builds on the previous with decreasing involvement of the driver.

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Much like the self-driving evolution, there is an AI evolution in property management. With our investments to date, and the addition of Colleen AI, we have created the infrastructure for operators, in the near future, to allow entire workflows to be fully automated.

Through autonomous property management, teams can focus on meaningful resident connection and high impact tasks to positively impact the resident experience and, ultimately, NOI.

The Transformative Benefit for Our Customers

In combining the Entrata OS with Colleen AI’s market-ready functionality, we are introducing ELI+™, an elevated suite of AI products. ELI+ consists of innovative AI modules for operators looking to automate more of their business. It flexibly sits on top of the OS to provide the ultimate automation, workflow management, and orchestration to achieve desired levels of automation.

ELI+ will push the bounds of what is possible in the industry today. Because of the consolidated nature of the Entrata OS and its single data layer, ELI+ will enable end-to-end workflow automation with complete and up-to-date data on every property, unit, and resident. While other providers will experience “data dead ends” that require a manual bridge, Entrata is uniquely positioned to have the contextual data to seamlessly resolve and switch between various types of resident interactions with incredibly high accuracy and satisfaction.

Entrata Layered Intelligence (ELI) will become known as ELI Essentials and will remain free functionality that is native to the Operating System.

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Our Modern Advantage in The Industry

As a customer, here are a few things you can expect from this transaction:

Usage of 1000s of data variables from the OS

AI is only as good as the data it utilizes. ELI+ uses 1000s of data variables across the Entrata OS to automate and contextualize every interaction. These data sources are comprehensive and native to the OS to allow for high quality inputs. This is commonly a core limiter for many AI providers when looking to implement AI workflows across the resident journey.

Modular architecture for modern AI and ML

Many AI technologies utilize older, archaic architecture which can be difficult and costly to update. This results in slower speed to market than modern AI and decreased interaction quality. ELI+ is designed to be modular and allows for swift enhancement utilizing the most modern AI and ML technology, giving operators the most up to date functionality and residents the best experience.

Personalized, high quality interactions through data and AI consolidation

Technology consolidation is key for many reasons. Most notably, it enables what we call Conversational Context Switching, the concept of personalizing every interaction through complete data contextualization for each resident across multiple channels, made possible by the single data source. For example, if a conversation begins for an amenity reservation, the AI can easily satisfy the original request and then seamlessly shift the conversation to other priority tasks, such as beginning an early renewal process.

One system enables efficient properties and site teams

In this era of rapidly evolving technology, site teams undoubtedly experience tech fatigue. By embracing an OS with a native AI layer, like ELI+, site teams don’t need to learn, test, or become bogged down by new tech. It’s the exact opposite - technology continues to improve on a platform the teams are already familiar with. Operating in one system allows for rapid re-prioritization of activities to drive efficiency.

Ultimate flexibility for a tailored strategy

AI has generally been rigid in how it is implemented and used. With ELI+, there is flexibility in everything from end-to-end workflow automation to maintaining brand voice in resident interactions. This allows customers to create an AI strategy that feels native to their brand and way of doing business across asset classes and types.

OS and ELI+ integration into the multifamily ecosystem

The Entrata OS and ELI+ integrates with 3rd party apps and multiple PMS providers to broaden the possibilities for operators. Not only does this enable customers to use apps and systems they know and love, but they can craft an AI strategy around other high-performing parts of their business. ELI+ brings together the power of AI to the solutions you already use to transform not just your business, but the global resident experience.

I couldn’t be more excited about this next chapter together and see this as a monumental step in providing our industry with transformative technology to revolutionize the way you work.

Adam

CEO, Entrata