NewMark Merrill Companies Empowers Employees with Innovative AI Solutions Program

Innovative Approach to AI Integration at NewMark Merrill Companies

In a groundbreaking initiative, NewMark Merrill Companies, Inc., a leader in retail property management, has completed its AI Pioneer Program. The twelve-week endeavor, culminating recently, involved training 13 employees from diverse departments to develop artificial intelligence solutions tailored to their daily operational challenges. Unlike traditional methods that often rely on purchased AI tools, this program focused on empowering employees to create solutions internally.

The program, executed in collaboration with Adaptig, comprised six structured sessions where participants identified workflow bottlenecks in their respective areas—ranging from Accounting to Human Resources. The unique approach prioritized individuals who understood their workflows deeply, emphasizing that solutions must come from those on the ground rather than top-down directives.

Taylor Kuchman, an Acquisitions and Development Associate, highlighted how the program helped him recognize inefficiencies within the acquisition and development processes. He noted the importance of collaborative problem-solving, stating, "The time and expertise that Mateo at Adaptig and the team at NewMark Merrill devoted to this also opened my eyes to challenges that other departments were facing and the solutions they were putting in place."

The results of the program were remarkable. Participants created 53 distinct AI-powered tools that collectively recovered approximately 3,783 hours of productivity per year, equating to about 473 workdays. The self-assessed quality of their output surged from 3.2 to 4.3 on a five-point scale, marking a 34% improvement—particularly noticeable in analysis and reporting tasks.

Some of the innovative solutions developed included streamlining the acquisitions underwriting process, which reduced hours of manual document review to less than an hour. In Property Management, daily security reports were automated for efficiency, while the Accounting team significantly cut down the time needed for CAM reconciliations from a full day to just minutes. Not to be left behind, the Information Technology department replaced a complicated Excel workflow with a custom web application, elevating the entire organization’s operational efficiency.

Sandy Sigal, the company's President and CEO, shared his enthusiasm, focusing on the core success of the program: the people. "We did not hand anyone a tool and tell them to use it. We equipped them with skills and asked them to address problems that they know intimately," he stated. This remarkable emphasis on employees equipped with knowledge and empowerment to solve real challenges marked a significant turning point in organizational culture.

At the end of the program, a showcase event allowed participants to present their AI tools to company leadership, garnering an admirable satisfaction rating of 4.2 out of 5 from the participants, reflecting the transformative nature of the initiative.

Mateo Romano, co-founder of Adaptig, praised NewMark Merrill's approach, noting, "They understood that genuine change comes not from the top but from enabling their staff to resolve the issues they face daily." By fostering cross-departmental collaboration, the AI Pioneer Program not only simplified tasks but also promoted an innovative mindset across the organization.

The successful program concluded with recognition of 13 AI Champion employees—Ivano Bufi, Delaune Cheney, Samantha Dubon, Chad Kaplan, Taylor Kuchman, Michael Mendez, Tim Murphy, David Rosenthal, Isak Sabzanov, Elijah Sigal, Holly Tartaglino, Artur Tarverdyan, and Larissa Yllescas—who demonstrated outstanding commitment and ingenuity throughout this transformative journey.

NewMark Merrill Companies continues to showcase its commitment to innovation, embracing technology to create sustainable growth and efficiency within its extensive portfolio of over 110 shopping centers valued at more than $3 billion. By investing in the development of talent within the organization, the company is setting a precedent for effective AI integration in the retail management industry.