Yardi recently announced their Yardi Virtuoso line of products and a stand alone website outlining it’s features.
Yardi Virtuoso looks to be an advanced, AI powered digital assistant that will support operations throught Yardi’s legacy products. Virtuoso is their new building block for the AI future. It likely isn’t fleshed out super well yet, and it hasn’t rolled out or been deployed in any large or meaningful way - but it shows that Yardi is putting development work into AI. They state that Yardi Virtuoso will not only provide chat and text similar to Yardi’s Chat IQ Live Chat system - it will provide a whole range of AI capabilities, operating like a Virutual Leasing Assistant. operational efficiency,
Note: You can find out about our Yardi Chat IQ management and support here.
Features of Yardi Virtuoso AI Chat
Yardi is very vague on what it can do, and that’s likely on purpose. They are promoting a variety of abilities, but at this point it’s probably all still in a development phase and they are doing their best to not fall behind the curve.
The features they are promoting are:
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AI-Driven Automation: Yardi Virtuoso uses artificial intelligence to automate repetitive tasks like answering common questions on live chat, text or phone. It can also schedule appointment, and make maintenance requests. It’s a little unclear how this is different from the existing Chat IQ system, because the features are all described the same way.
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Enhanced Customer Service: Their digital assistant provides 24/7 support to residents and prospects, ensuring that inquiries are addressed promptly regardless of the time of day. - Again, this is the same as Chat IQ, so what is new? Not sure.
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Seamless Integration: Yardi Virtuoso integrates seamlessly with other Yardi solutions and property management systems. This ensures that it has access to accurate and up-to-date information, which it can use to provide relevant and precise responses. While the Chat IQ system pulls from existing PMS and CRM data, we expect that Virtuoso does a much better job at this, because Chat IQ has always been quite limited.
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Multichannel Support: The assistant can interact with users through various channels, including web chat, mobile apps, email, and social media platforms. This multichannel capability ensures that residents and prospects can engage with the assistant any way they’d like.
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Personalized Interactions: Yardi Virtuoso uses AI to deliver personalized interactions based on the user’s history and preferences. This helps in providing a more tailored experience, enhancing user satisfaction. - Does this mean that Yardi Virtuoso tracks prospects over time and remembers them? This seems to be what they are promoting, but until it’s implemented, we won’t know.
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Lead Generation and Management: The digital assistant assists in capturing and qualifying leads, ensuring that potential residents receive timely follow-ups and that property managers can maximize their leasing opportunities. - Qualifying leads is a HUGE breakthrough if this is true. If Yardi Virtuoso do background qualification checks during the interaction it could have a huge impact on the future of renting. Something tells us this isn’t what they are promoting, but it ’s possible.
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Data Analytics and Insights: Yardi Virtuoso provides detailed analytics and insights into user interactions. Property managers can use this data to understand common issues, track performance metrics, and identify areas for improvement.
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Cost Efficiency: By automating routine tasks and providing 24/7 support, Yardi Virtuoso helps property management companies reduce operational costs and improve efficiency. - We hope this is true as well, but Yardi’s track record for ‘affordable’ solutions isn’t the best.
Yardi Virtuoso aims to transform how property management companies operate by leveraging AI to enhance customer service, streamline operations, and provide valuable insights for better decision-making.
What we Think
For certain applications Yardi Virtuoso may be a fit. It sounds like they are making strides that push forward the capabilities of their Chat IQ system. But in another sense, it seems a bit like open-ended promotion. Yardi might just want to show they are working on AI based solutions, and don’t actually have them ready for the market. The website is vague, and as far as we know, they are not rolling this out in the field to any existing clients yet.
2024 Update on Yardi Virtuoso Live Chat
According to what we have heard from Yardi sales reps in the field, Virtuoso features are rolling out to certain clients in certain locations. We have yet to see much of it on our Yardi Chat Management service, but we will keep things updated here as they develop. Leasing Chat now offers a live chat suport service specifically designed for Yardi Chat IQ Users.
While you wait for more details on Virtuoso, you can read more details about Leasing ChatIQ : Leasing Chat for Yardi Chat IQ