Bonava is one of the leading housing developers in Northern Europe. The company develops and sells affordable, sustainable housing directly to consumers. As a residential development company, Bonava is exploring how AI can build the business. They aim to streamline processes and enhance their digital transformation.

The residential development company is present in Sweden, Finland, and Germany. It also operates in the Baltics, including Estonia, Latvia, and Lithuania. Bonava acquires land in these regions to develop communities and neighborhoods where people can live. Bonava is a shareholding company that has been in operation since the 1930s. Its head office is located in Stockholm, Sweden. The company employs 1,300 people across its six markets. It aims to strengthen its position in regions with high potential. Bonava focuses on areas with considerable opportunities for long-term value creation.

Ensure progress with AI to build the business

When AI, especially generative AI like ChatGPT, made its impactful debut in late 2023, the company’s curiosity was sparked. This excitement was particularly strong within Bonava’s digital team. “My colleagues and I in the digital team have been very interested in this new technology; we spent quite a bit of time looking into generative AI, attending seminars and webinars – just learning a lot. Then we started focusing on responsible usage, legal compliance, and ethics. Now we’re at a place where we explore what’s possible and how AI can build the business and ensure enablement for increased usage,” explains Elisabeth Shishoo.

Bonava’s digital team, which includes Elisabeth Shishoo, took the lead in forming a cross-functional group. This group is called the Group Generative AI Forum. “The purpose of the group is to ensure that we as a company are making progress in adopting AI in our processes and everyday work, in a responsible way,” says Elisabeth Shishoo.

Unexpected benefits of using AI

The point is that the main focus of Bonava’s current AI efforts is to increase the knowledge level within the organization. Bonava is focusing on increasing the general usage of generative AI and has recommended ChatGPT as the company platform of choice for now. In parallel, Bonava is monitoring the progress of Copilot given that Bonava is a Microsoft-heavy organization.

Elisabeth Shishoo shares that the digital team in Bonava utilizes ChatGPT frequently. It speeds up writing an email, drafting a presentation, or creating a meeting structure. However, it has also contributed in unexpected ways. “It is also beneficial in other areas, especially when it comes to suggesting alternative approaches, coaching, and sparring,” says Elisabeth Shishoo. Through this transformation, AI can build the business in multiple unexpected and valuable ways.

The use of generative AI has also resulted in new processes within Bonava. The marketing department used to be responsible for sales descriptions for the homes and publishing them on the web – they are now created using generative AI. Instead of having an agency produce the sales descriptions, the team can use AI to produce them based on data and parameters from the project, Elisabeth Shishoo explains. “We don’t need to be trailblazers and be first on building new solutions; we will take it step by step. But I’m sure that long-term, it’ll change many parts of the business,” she says.

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As Bonava embraces AI to streamline and enhance their business, they join a growing number of companies that are redefining what’s possible with innovative technology. AI adoption isn’t just about automation; it’s about building a smarter, more agile business that can adapt to the demands of tomorrow.

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