In a survey of 568 developers, conducted by Censuswide, 57% of developers said they planned to utilise AI with 59% already using this in their business.

The same percentage of 57% agree that AI will “transform” how they sell and market their developments.

Development Finance Today has contacted Shawbrook to find out exactly how developers plan to use AI.

The research also gauged developers’ attitudes towards the market and how they are navigating challenges.

Over half (57%) of developers said they had diversified their investments and projects to better navigate economic uncertainty.

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The same percentage are offering incentives to buyers, such as paying stamp duty costs, to get deals over the line.

“Developers have time and time again proven themselves to be agile and adaptive in the face of tough and fast evolving market challenges,” said Terry Woodley, managing director of development finance at Shawbrook Bank.

“It’s no surprise to see developers increasingly making use of AI and wider technology, and shifting their priorities, to optimise business performance — and this will without doubt only become more commonplace as everyone tries to  get ahead of the curve and get an edge on competitors.”