SYLA (a 100% Subsidiary of SYLA Technologies) Accelerates DX of Real Estate Purchasing and Sales Operations by Utilizing OCR and AI Technology with the Introduction of GA Technologies' System
SYLA Co., Ltd. (Head office: Shibuya-ku, Tokyo; CEO: Yoshiyuki Yuto; hereinafter "SYLA") will collaborate with GA technologies Co., Ltd. (Head office: Minato-ku, Tokyo; CEO: Ryo Higuchi; hereinafter "GA Technologies") to advance the digital transformation (DX) of the workflow from property purchase to AI assessment and sales. This collaboration will leverage GA Technologies' OCR technology, which reads property information from real estate sales drawings and converts it into highly accurate data. In conjunction with this, SYLA will develop and introduce an AI system designed to significantly automate the entire process of purchasing and selling real estate.
The purchase and sale of investment real estate entail a comprehensive procedure, involving the review of traditionally paper-based sales drawings, known as “Maisoku” in Japan, which contain vital property information. This process also includes creating purchase terms and conditions, conducting income and expenditure calculations, bank evaluations, internal reviews, and the preparation of in-house sales drawings. These procedures routinely involve processing numerous documents and result in substantial time and labor costs.
Notably, the challenge arises from the difficulty of reading “Maisoku” with conventional OCR technology. This is due to the absence of a fixed format, with each real estate agent producing “Maisoku” in their unique format. Additionally, the repetition of faxes results in the deterioration of “Maisoku,” posing a hurdle for DX in the real estate industry. In response to these challenges, GA Technologies has developed and patented a distinctive OCR technology capable of effectively reading “Maisoku.”
The integration of GA Technologies’ OCR function, designed for reading “Maisoku,” with SYLA’s AI-based price assessment and automatic document preparation using RPA technology is anticipated to yield significant reductions in labor costs.
Instead of the time-consuming task of manually checking email attachments, faxes, and other documents one by one every day, the OCR system automatically reads the property information on “Maisoku” and extracts the text information simply by uploading them to the system. Based on the extracted information, AI then determines whether the property is a good purchase. This information is then utilized by RPA to facilitate the purchase and prepare the company's documents, thereby enhancing the efficiency of purchasing and selling real estate.
The introduction of this system is anticipated to significantly reduce the time and the labor costs associated with procurement operations. Additionally, the system is expected to minimize human error, aiming to present and sell only the most carefully selected properties with favorable conditions to customers.
Company Profile of GA Technologies Co., Ltd.
Head Office: 40F Sumitomo Fudosan Roppongi Grand Tower, 3-2-1 Roppongi, Minato-ku, Tokyo
Representative Director and CEO: Ryo Higuchi
Establishment: March 2013