Property investor and operator Fisher Brothers announced the establishment of an internal, artificial intelligence (AI)-based innovation lab. The 111-year-old Manhattan-based company will deploy the AI Innovation Lab across its commercial and residential property divisions, as well as at the Area15 entertainment complex in Las Vegas.
Instead of relying on standard solutions, Fisher Brothers' technology team is developing proprietary applications and AI agents. These are intended to automate multi-stage workflows, connect previously isolated systems, and transform internal company data into a resource that employees can access and act upon in real time. This positions Fisher Brothers among the larger operators and owners who are increasingly developing Proptech solutions internally.
Strategic Alignment and Implementation
Winston Fisher, Partner at Fisher Brothers, described the public launch of ChatGPT in 2022 as a turning point. He stated that it is one of the most transformative technologies globally. The AI Innovation Lab represents the culmination of continuous learning and individual initiatives. Mark Stutzman, Global Chief Technology Officer, has already implemented projects with the team over the past three years, which has now enabled the next step in the form of a dedicated full-time resource to accelerate the transformation.
By employing a dedicated internal development team, the lab will create bespoke applications that foster agent-driven automation of repetitive workflows, connect internal systems, and expand AI literacy within the organisation. The overarching goal is to integrate AI company-wide to support growth. Mark Stutzman describes this as a 'flywheel of transformation' that leads to faster change and provides fundamental functionalities in daily workflows to replace expensive large SaaS applications.
Fisher Brothers' decision to develop agent-driven AI internally resulted from a combination of economic factors, operational control, and technological development. Stutzman emphasised a very practical approach: no projects are implemented if their development, from idea to deployable solution, takes longer than two weeks. Instead, manageable, 'bite-sized' steps are taken within a comprehensive architecture that improves with each new solution.
Employee Empowerment and Future Prospects
As part of the initiative, Fisher Brothers is also launching a structured AI training programme for employees. This includes foundational AI literacy for all staff, department-specific workshops, and advanced training for 'AI Champions' within each business unit. Stutzman explained that a shared prompt library was created because employees struggled with writing prompts. A home plug-in for Claude allows Fisher Brothers employees to save prompts directly to the library or optimise existing prompts, leading to better results.
For Winston Fisher, it was crucial that employees quickly and clearly recognise the benefits of the changes. He stressed that with the right team and internal buy-in, very high returns can be achieved, and revenues generated rapidly. He considers this a strategy for business success through increased revenues, efficiency, or cost reduction. He is convinced that this cannot be outsourced externally with the same results and at acceptable costs, as it represents a deeper commitment than mere consultancy – a transformation of business processes.
As part of its technological advancement, Fisher Brothers is also considering the introduction of an innovation programme for Real Estate Technology. This would grant start-ups early access to the company's portfolio, operational data, and industry network.
