Patrizia has acquired a stake in artificial intelligence platform company Cognotekt.
Cognotekt has developed technology to translate written text into mathematical formulas to classify documents and extract data with higher accuracy than common AI solutions.
The developer had previously decided to adopt Cognotekt’s technology to enhance its operational and corporate data management processes.
It follows from Patrizia’s investment into document and data management platform company Evana in October last year.
According to Manuel Käsbauer, head of technology and innovation at Patrizia, the investment in Cognotekt and Evana will both “provide an outstanding solution for document data and process-driven management for our partners and the whole real estate industry”.
He added: “We see AI as an important tool to improve our processes, performance and transparency. We identified Cognotekt as an ideal match, since its approach perfectly complements Evana’s.”
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