The PREPARE Act Natural disasters are increasing in frequency each year, costing the United States $800 billion in the last decade alone. Homes and small businesses have been devastated in recent years by the impacts of severe flooding. Federal Emergency Management Agency (FEMA) statistics show that 40-60% of small businesses never reopen following a disaster, and every $1 spent on mitigation saves taxpayers an average of $6. Find out more about the PREPARE Act and why BOMA believes it can empower small businesses to protect themselves against severe weather events. Artificial Intelligence (AI) and Commercial Real Estate As the technology associated with Artificial Intelligence evolves and advances, AI is either hailed as a savior to society’s problems or reviled as a potential disaster of apocalyptic proportions. On one hand, AI is already hard at work making meaningful progress —in fields including commercial real estate. On the other hand, legitimate concerns surround the replacement of human judgment, accelerating job loss, institutionalizing bias and blurring the lines that help us recognize the differences between truth and reality. So what does this really mean for commercial real estate? Read here for more info on BOMA's research and perspective.
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