Perspectives: 2018 “AI” Year In Review
Wow – is 2018 already over? Cryptos are down 80%, Donald Trump is still the ruler of the free world, inflation has not really increased, Tesla is still more valuable than most car companies, Netflix can’t figure out India, Marvel still owns the box office, Europe is going rightwing, Slack is now the #1 office communication tool in the world, and Brexit still can’t Brexit.
2018 has been a tremendous year for all of us here at LEVERTON and for the progress for Artificial Intelligence and Automation in corporate environments. All of this is possible because of our great partners, customers, users, and followers like you! We would like to take this opportunity to thank you for giving us the chance to do what we enjoy, and we hope to continue to build on our success in the coming years.
Find below our 2018 Year in Review where we look at some of our biggest achievements and best highlights from the past year.
As we all take time off from our hectic schedules, we would like to leave you with these words from our CRO, Richard Belgrave, to ponder over the holidays, “as LEVERTON’s technologies grow more sophisticated in extracting meaningful insights from your data, we’ll continue to leverage AI to enable you to make advantageous and more informed business decisions. But first, you must make this important decision: Will you continue to watch your competitors utilize structured data to sail past you or are you ready to join the Artificial Intelligence and contract data revolution?
Abhinav (Abe) Somani, CEO & The Global LEVERTONian Team
Sports Direct Engages LEVERTON to Automate its Lease Portfolio Management
We started the year with an exciting new client win with Sports Direct, the UK’s largest sporting goods retailer by revenue with over 750 stores globally. The multi-year engagement saw the FTSE-listed retailing group make use of our multi-language capabilities to automate its lease portfolio in Continental Europe.
LEVERTON Featured in the Korean Broadcasting System (KBS) on the use of AI in Legal Services
Last year, Korean Broadcasting System (KBS), the national public broadcaster of South Korea worked on a documentary titled, ‘AI: Challenging lawyers around the use of AI in the Legal space’ in the US. Our VP of Sales in North America, Joe Leach met with the KBS reporters to discuss LEVERTON, how our AI solutions are being effectively used by Law firms and other major corporations, and the resulting efficiency improvements to their systems and processes.
LEVERTON’s AI Accelerates Real Estate Purchase of Machtlfinger Höfe
In February, we worked with Freshfields Bruckhaus Deringer LLP to accelerate their purchase of Machtlfinger Höfe, a 21,500 sqm office space in Munich on behalf of their client, Conren Land AG, an investment firm.
LEVERTON Podcast: With Brian Zrimsek, Industry Principal at MRI Software
Our VP of Sales, Joe Leach sat down with Brian Zrimsek of MRI Software to discuss the real estate technology landscape and how CRETech adoption has transformed over the years, from custom software packages to SaaS.
LEVERTON Shares its Learnings and Insights at NYC Real Estate Expo and Property Law Retreat
In April, our team attended the NYC Real Estate Expo and the Property Law Retreat in Boston to talk about AI for Commercial Real Estate, where we discussed the relevance of AI for the real estate industry and outlined practical uses of AI to turn unstructured documents into insightful, structured data.
LEVERTON Meets Angela Merkel for Artificial Intelligence Discussion
In May, our team met with the German Chancellor, Angela Merkel in Berlin as part of an expert delegation to discuss the challenges and opportunities facing the German market with regards to the development of AI. The matters discussed at this meeting were merged into a national strategy that was later published as a paper in which the government signaled their intent to set aside 3 billion euros for research and development of AI in the region.
PowerPlan Announces Technology Partnership with LEVERTON to Accelerate Adoption of the New Lease Standards
With the new lease accounting standards deadline on the horizon, we announced our strategic partnership with PowerPlan, a leading provider of lease accounting software and service to help public companies transition to the new IFRS 16 and US GAAP ASC 842 standards.
Abhinav Somani join Forbes Under 30 delegation in Tel Aviv
Our CEO, Abhinav Somani was invited alongside 500 entrepreneurs, professionals, social activists and game changers from 50+ countries across the globe to attend Forbes Under 30 Summit in Tel Aviv last May. He met some interesting people and summed up his learnings from the event in a post that was widely appreciated by all.
LEVERTON Secures Savills Studley Team Up
June marked the start of the Summer holiday period for many, but for us at LEVERTON, it kick-started our official partnership with Savills Studley, the leading tenant advisor for commercial real estate services, to augment the practice of lease administration and portfolio planning. We were previously presented with the H. Bruce Russell Global Innovator’s Award by CoreNet Global in 2017 for our joint solution that combined our data extraction technology with Savills Studey’s Knowledge3 technology to improve data transparency and analytics for their global real estate occupier clients.
LEVERTON Participates in JLL Cup 2018, hosted in Support of the Jonah Foundation
The JLL Cup brings together numerous teams each year from companies in a variety of sectors including real estate and finance, to compete with colleagues, counterparts and competitors on the pitch. JLL, a LEVERTON customer, is a Global professional services and investment management firm and has hosted the tournament since 2009. Besides the joy and fun of sport, promotion of team spirit, collegiality and fairness, the JLL Cup is primarily about getting together and kicking together for a good cause.
CRE’s Technical Transformation: 5 Cutting-Edge Companies to Watch
In July, Global Real Estate Experts Magazine, the leading publication for real estate and property technologies recognized LEVERTON as part of a “small handful of companies who are on the leading edge between now and the future.”
LEVERTON Platform Now Available on SAP® App Center
In August, our team were also invited to attend the BoxWorks conference in San Francisco in August to present our platform to an inspiring community of over 5,000 influential thought leaders, partners, and customers from around the globe and across industries who had come together to foster a dynamic conversation on the future of work.
LEVERTON Makes Foray into NPL Market
In September, our platform made a landmark foray into the Non-Performing Loan (NPL) space. On the back of increasing interest from several investors, financial institutions and loan servicers for a solution to solve the issue of unavailability of quality loan-related data, we trained our platform to identify and extract key data points from loan agreements to add value to NPL transactions.
AI, Brokerage and The Future of Data… An exclusive interview with CREtech.com
Our CEO, Abhinav Somani sat down with Patrick McGrath, CIO of Savills Studley and Michael Beckerman of CREtech.com to discuss how AI is impacting our world and to showcase our collaboration with Savills Studley.
LEVERTON at EXPO REAL 2018: PropTech Continues to Dominate
Our team attended the 21st edition of EXPO REAL that took place in Munich this year that saw over 44,000 participants and 2,000 exhibitors converge under one roof to talk about what we love most, PropTech!
Derwent London Adopts LEVERTON to Streamline Lease Management
In October, we teamed up with Derwent London, a central-London focused REIT to help them streamline their entire commercial real estate portfolio lease management in a major deal. Our platform has been deployed to automatically extract and structure key data points from corporate and legal documentation to save Derwent London on average, 60-70% of the time it takes them on manual data abstraction.
CohnReznick LLP Enters into Agreement with AI Data Extraction Firm LEVERTON
We also partnered with CohnReznick LLP, the top-ranked advisory, accounting and tax services firm in the US to help their clients enter into compliance with changing lease accounting standards. The new standards that come into effect on January 1, 2019 (January 1, 2020 for private companies) require companies to account for all operating leases as assets and liabilities on their balance sheets, making it a lengthy and tedious process.
LEVERTON Now an Official Certified MRI Software Product Partner
We received our Official MRI Product Partner certification in October. This partnership will see us offering MRI clients the ability to work with us to transform the way corporate document data is leveraged to boost business performance.
MRI Takes us on a Bold & Ambitious Journey at MRI IUC in Atlanta
Our team attended the MRI International Users Conference in Atlanta that saw over 1,400 delegates come together, making this year’s IUC the largest MRI forum ever. Our US team presented our integration to MRI Software to the delegates, showcased our MRI integration customer case study with GBT Realty and hosted a panel discussion on Big data, Blockchain, and AI over the three days of the conference.
LEVERTON Introduced LEVERTON AI 2.0. The Better, Smarter and More Efficient Artificial Intelligence Engine
Precise decisions on finding the best possible results are made purely by the AI without any hard-coded rules. The updated AI significantly contributes and improves the efficiency of customers workflow with more accurate AI extraction results.
LEVERTON Hosts First Annual Users Conference, LEVERTONIA
November kicked-off with the launch of our much-anticipated user conference, LEVERTONIA in New York. The event attended by over 50 of our most trusted and valuable users, customers and partners witnessed the birth of a new chapter for LEVERTON, having recently transformed our vision to adopt a more customer-centric approach to the way we do business. The conference also saw some of our biggest enterprise partners including JLL and EY talk about how they have applied our technology to improve their processes, in addition to highlighting best practices and key lessons learned whilst onboarding our platform and integrating it to their existing workflows. See our key takeaways from LEVERTONIA.
RSM and LEVERTON Streamline ASC 842 Lease Accounting Transition
Hot on the heels of an impressive user conference at LEVERTONIA, we partnered with RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market, to abstract lease contracts for ASC 842 accounting, leveraging our AI technology on a global scale.
LEVERTON and OpenBox Team up to Present White Paper on Intelligent Process Automation
In December, we teamed up with OpenBox Software to put together a useful guide on ‘What is Intelligent Process Automation or “IPA” and How can I Benefit from it?’. The combination of Robotic Process Automation (RPA) with Artificial Intelligence (AI) provides a synergy where robots orchestrating a structured process are assisted by the ‘thinking’ and ‘cognition’ brought by AI to provide what is called Intelligent Automation.
LEVERTON Publishes CRETech Trends 2019
The end of the year is usually a time for us to reflect upon the various challenges and practicalities of implementing technologies in the past year, but also to think ahead about those technologies that can help your organisation solve your particular business challenges in the coming year. Which is why we spoke to industry leaders from Deloitte, JLL, Boston Properties, and Prop Inc. to bring you some practical advice on kickstarting innovation with our eBook entitled, CRETech Trends 2019, read it here.