Real estate AI and big data platform RE5Q has appointed Martin Samworth as CEO.
The development follows the former EMEA and APAC CBRE Chairman’s appointment to the company’s advisory board earlier this year.
RE5Q uses artificial intelligence and big data to enable businesses to make more informed decisions, extracting data sets in their entirety from across the world and currently accumulating eight billion data points into one unified resource.
Use-cases involve aiding insurance risk assessment with up-to-date information about elements such as flood plains or ground planning history; predictive risk management and predictive analytics to aid in portfolio management; and improved data to enable more robust AVMs.
RE5Q already covers over 17m residential and 2m commercial properties, representing 95% of all physical assets in the UK.
The ambition for RE5Q is global, and the platform is ramping up in other European countries, North America and GCC region, with the goal of reaching similar coverage.
The platform can be operated across a range of other sectors, with live projects in asset management and media in the pipeline. It develops and scales solutions through a range of Joint Ventures and Consortiums, sharing both risk and reward with enterprise partners.
On top of growing RE5Q across real estate, Samworth will be responsible for driving growth across other revenue lines – targeting partners across the UK, Europe and the UAE, additional sectors and aiding businesses with requirements including ESG indexing/benchmarking and predictive analytics.
Part of the strategy will also be a big recruitment drive, hiring skilled individuals who can run each new vertical.
“Having worked with the business for a few months, I have never been more convinced of the transformative power of the RE5Q platform,” said Samworth.
“Innovation within real estate is an imperative and RE5Q can enable this next phase – as well as realising the opportunities across many other business sectors.
“I have always been a huge advocate for change, evolution and digital enablement, and as CEO, I look forward to supporting the business as it continues to help and enable partners drive accelerated growth.”
Christophe Reech, Chairman of RE5Q, added: “The growth of RE5Q since launch is evidence enough of the appetite for industry-changing, AI-led solutions to address market inefficiencies. Martin has the track record and breadth of business experience critical to leading RE5Q into the next phase of growth.
“This includes the ability to forge top-tier relationships, building out our consortium model across sectors and enabling our partners to monetise these solutions to fuel their own business growth.
“I am looking forward to working closely with Martin as Chief Executive Officer to see this ambition through.”