#114: The Truth Behind the Trends with Dom Beveridge: What's Really Going On with Centralization & AI?
In this week’s podcast episode featuring Dom Beveridge, the publisher of 20 for 20, we shed light on the intricate truths behind trends in multifamily housing, specifically, the concepts of centralization and the integration of artificial intelligence (AI). As an industry expert, Beveridge provides valuable insights into these evolving dynamics.
DOM BEVeridGe | industry consultant, writer, and publisher | 20 for 20 PRINCIPAL
Dom Beveridge is a multifamily industry consultant, writer, and publisher specializing in technology and its impact on operations. He is a frequent speaker at industry conferences, including NMHC OPTECH, AIM, RETCON, and Blueprint, a regular guest on podcasts, a blogger, and a frequent contributor to trade publications. In 2018, Dom created 20 for 20 – the multifamily industry’s leading annual survey of operations and technology.
Prior to founding 20 for 20, Dom held leadership roles in consulting, technology, and marketing for more than 25 years, spending the last decade in multifamily. Most recently, Dom worked with D2 Demand Solutions and previously in various roles with the Rainmaker Group (famous for the revenue management application, LRO) until its sale to RealPage, Inc. in 2017.
Centralization: A Nuanced Approach
Centralization is often viewed as a destination, a one-size-fits-all solution that every company should aspire to achieve. However, Beveridge challenges this notion by pointing out that centralization might not be the right fit for all companies. He highlights that while some companies benefit from centralizing certain functions, others prioritize different aspects of their operations. Instead, centralization is a tool that should align with an organization's goals and priorities rather than a universal goal.
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The Impact on Staffing Models
Beveridge delves into the impact of centralization on staffing models within multifamily housing. He points out that roles like administrative positions are more suitable for centralization, improving efficiency and career growth for staff members. However, he suggests a nuanced approach, where roles are examined individually, considering the potential benefits and challenges of centralization.
AI: More Than Automation
The conversation also delves into the integration of AI within multifamily housing operations. Beveridge highlights that AI should be viewed beyond mere automation. Instead, it should be harnessed to create value by improving the overall experience and efficiency of operations. For instance, AI can aid in data analysis, enabling better decision-making by visualizing patterns that might go unnoticed in traditional data formats.
The discussion extends to the potential impact of AI on content creation. Beveridge anticipates that AI-generated content might reshape the content landscape. While AI can generate articles, its real value lies in its ability to distill complex topics and assist thought leaders in refining their perspectives. This could lead to a transformation in the content creation landscape, favoring specialized, insightful, and niche content over generic offerings.
In conclusion, this week’s podcast offers a glimpse into the multifamily housing industry's evolving trends and challenges. It encourages industry professionals to embrace change and view centralization and AI as tools for creating better experiences, improving efficiency, and fostering specialization. As the industry continues to adapt, staying informed about these dynamic shifts will be essential for success in the multifamily housing sector.
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