Business

The Benefits of Chatbots: an Interview with Researcher and CTO Avi Ben Ezra

Published

7 years ago

April 12, 2019

There has been a notable, sustainable increase in the use of chatbots during the last couple of years. They have been adopted into many systems which were formerly operated by humans. What these chatbots do is that they provide a new way for businesses to interact with their target audience. Therefore a lot of chatbot strategies will make use of the popularity of messaging applications. They will also make active use of the accelerated development of many types of sensors. These systems will become more effective with the emerging of new technologies and by implementing improved AI systems. For a long time, social media was the preferred way for people to interact with one another. According to statistics messaging apps are now leading social media platforms by a substantial margin.

We recently interviewed Avi Ben Ezra, the CTO of SnatchBot. Below are his answers to some related questions:

People ask what is a chatbot and why is it making such waves?

A chatbot is simply a program which is governed by AI and certain rules. It is able to simulate a real-life conversation with humans by using a chat interface. To put it in simpler terms, a chatbot is simply an AI service which is capable of having a two-way conversation. It can speak to you just like you speak to your friend or family member. In order to increase the effectiveness of chatbots, they are based on machine learning in order to allow them to collect conversational structures and nuances which can then enable them to simulate human conversations. They are also able to react to requests which can either be written or spoken and they can respond to those questions and also provide the requested services. They are not only reacting to commands they actually understand language usage. This is because chatbots use artificial intelligence. The result is that over time after frequent conversations with humans they can become very proficient and increasingly intelligent.

Most people believe that the use of chatbots is a relatively new development. However, the research behind this technology goes back all the way to the 1950s. Many businesses have already been introduced to the extraordinary benefits of artificial intelligence and chatbots. There is also a tremendous amount of information available which will clearly show industries how these chatbots can contribute to just about any business.

What are the financial considerations?

Those businesses who are planning to implement a full functioning chatbot may be surprised to learn that such a system is significantly cheaper than a cross-platform app. It is also substantially cheaper than employing employees for each separate task. There is already ready-made software developed by Facebook, Microsoft, and various other IT companies which can be used by businesses. One of the big advantages of chatbots is the fact that they are completely automated AI solutions. According to Ben Ezra, they enable businesses and organizations to handle many customers at the same time and also simultaneously. What businesses need to consider are when they employ chatbots which supplements the services provided by your human resources this can result in a huge saving on salaries while eliminating all human error. Indeed tax savings are also significant: as we’ve seen in countries like France, Belgium and the UK, where payroll taxes are steep. Then, off course, the cost to the environment is a factor: staff driving to work and back creates a big carbon footprint. So reducing carbon emissions and taxes, is something AI and automation is helping with.

What about access to global markets?

Regardless of the standing of your particular business whether it is a local brand or a very well-known international brand, you should note that chatbots have the ability to address all of your customer care problems 24 hours a day and 365 days a year in a variety of international languages. This can provide your business with unique opportunities to expand. With the proper implementation of chatbots, you can soon have a significantly larger market presence. You will be in the fortunate position that you do not have to rely on human resources for your customer services and other queries because your AI chatbots will be ready to take care of that side of the business.

How do chatbots handle lead generation?

Your chatbot has all of the necessary consumer information to allow it to provide consumers with personalized messaging. This is important as consumers proceed along the buyer’s journey. Your chatbot could be programmed to ask the consumer a whole range of related questions which could close the deal and possibly generate a new lead for your business. With a properly implemented chatbot system, the marketing flow is always in the right direction and that can drastically increase conversion rates for your business. With an efficient AI system, it is possible to generate potential customers, your chatbot will automatically notify the sales team and furthermore, it is also able to assist management in determining all of those unqualified leads. This is done through identified KPI’s which look at things such as resources, timeline, relevancy, and budget. This can really help the business to avoid spending time with leads that might go nowhere. We saw one French business integrate this with their Google Ads account, where lead generation was on autopilot: the marketing tream reported that despite ad fraud and invalid activity on the PPC side, the chatbot was still good at helping them improve their ROI.

What about learning from consumer data?

We have already discussed how chatbots can be excellent communicators and they handle consumers very well. Then there are critical communications where they generate valuable feedback simply by asking general questions. That information allows your business to make a whole range of improvements and adjustments to your current products or services. It can also provide you with valuable insight which can be used to optimize your website. You will be better prepared to do important adjustments to all of those low converting pages. Many businesses have webpages which are generating a substantial amount of organic traffic. Unfortunately, the conversion rates are not that good. However, with your chatbot, you can now interact with customers visiting that website and that chatbot can do a little survey which will quickly determine why people leave the website without purchasing anything.

How can AI chatbots increase customer engagement?

Many business owners have learned the hard way how critically important it is to keep your customers engaged with your brand. A lot of research has been done regarding customer engagement. It has been determined that those businesses who frequently interact with their customers on social media can increase customer spending by as much as 40%. There can be no doubt that social media is a very effective platform but by making use of chatbots a business can make the interaction so much more attractive especially if the chatbots have been programmed with an excellent sense of humor. Everyone familiar with conventional customer services will know that such a system generally receives less information from a customer than it will provide. This is not the case when it comes to chatbots. These intelligent systems will give only a little information and will then proceed to lead the interaction according to the consumer input which is received. The advantage of this approach is that chatbots will not fall into the human error of boring the customer, inundating them with unnecessary information. However, they will continue to respond to the customer presenting additional information as the conversation progress. The result is that the customer remains on the website for longer and they also learn a lot more about the business.

Are chatbots capable to stimulate proactive customer interaction?

In most business interactions there is mostly a passive customer interaction because most businesses will only respond to the consumer after they had been contacted. It is only very occasionally that businesses will initiate such communications. The problem is that most businesses are engaged in a highly competitive market and furthermore they are in a situation where they have millennial’s as customers. The simple fact of the matter is that acting passively is a luxury that no business can any longer afford.

How will chatbots make the business available 24 hours a day?

The issue relating to customer service has been researched very extensively over the last couple of decades. It is now a well-known fact that customer service is critically important to the success of any business organization. It does not matter what the scope of your business is, whether it is local or international. It is very important to have a 24/7 customer service department. When this is done correctly it can have a very positive impact on the satisfaction of your customers.

Once again businesses can benefit tremendously from the use of chatbots. It is entirely possible to get well-programmed chatbots to provide consumers with automated answers to a whole range of questions. That information can then be forwarded to an actual human being which can then provide a suitable solution for that situation. In this way, a lot of time can be saved by customer service officials and this allows them to give attention to more important issues while leaving the simple tasks to chatbots.

What about vital customer assistance?

A very interesting fact has emerged recently which showed that over 80% of online shoppers are in need of guidance and support during the online shopping process. This is why your business will have to be ready to help your customers to understand which of the products is best suited not only to their budgets but also to their particular needs. Ironically in many instances, online shoppers are unable to locate the things which they are looking for. They may find the navigation on your website to be complicated. They may have questions regarding payments, registration, delivery, checkout procedures or they may simply require more information relating to a specific product. For all of those things, a chatbot will always be the best answer and the best solution.

Remember though, that many organizations are hostage to card fraud issues when outsourcing. Well, we sought to eliminate that by increasing our R&D spend on payment processing that works without human intervention.

Conclusion

Chatbots have, in a relatively short time since they have been introduced, provided businesses and corporations with tremendous benefits. They have increased productivity and have reduced unnecessary overheads, cut taxes and carbon emissions, clamped down on card fraud mafias that infiltrated call centers – and freed up humans to do the jobs they love more. They have made businesses more efficient and they have drastically improved customer service. It goes beyond business: a hospital, police station, The evidence speaks for itself, chatbots is something which businesses can no longer afford to do without.

Suggested reading: Follow weekly news by Avi Ben Ezra or access Research released by Avi Ben Ezra.

Youtube video – A vision of the future, by SnatchBot:

Business

Royal York Property Management And Nathan Levinson On Building Stable Rental Portfolios In A Volatile Market

Published

4 days ago

December 11, 2025

Matthew Wiles

Across North America, Europe, and much of the world, rental housing is caught between two pressures. On one side are tenants facing record affordability challenges. On the other side are landlords seeing operating costs, interest payments, and regulatory complexity move in the opposite direction.

Recent analysis from Canada’s national housing agency shows how tight conditions still are. The average vacancy rate for purpose-built rentals in major Canadian centres rose to about 2.2 percent in 2024, up from 1.5 percent a year earlier, but still below the 10-year average despite the strongest growth in rental supply in more than three decades.

At the same time, higher interest rates have pushed up the cost of acquiring and financing rental buildings, which has slowed transactions and made many projects harder to pencil out.

In this environment, the question for landlords and investors is less about chasing maximum rent and more about building stability. That is where Royal York Property Management and its founder, president, and CEO Nathan Levinson have drawn attention.

From a base in Toronto, Royal York Property Management manages more than 25,000 rental properties, representing over 10 billion dollars in real estate value, and operates across Canada, the United States, and parts of Europe. Levinson also sits on a Bank of Canada policy panel focused on the rental market, where he provides data and on-the-ground insights about rent trends and landlord stress.

For many smaller property owners, his model has become a reference point for how to treat rental housing as a structured financial asset rather than a side project.

Rental housing under pressure from both sides of the balance sheet

In many countries, the basic rental story is the same. Construction of new rental housing has climbed, yet demand still runs ahead of supply in most major cities. In Canada, overall rental supply grew by more than 4 percent in 2024, the strongest increase in over thirty years, while vacancy rose only modestly.

At the same time, borrowing costs have moved sharply higher compared with the pre-pandemic period. Research shows that elevated interest rates have reduced the profitability of new multifamily deals and slowed investment activity, even as structural demand for rental housing stays strong.

For small and mid-sized landlords, that tension shows up in a simple way. Mortgage payments, taxes, insurance, and maintenance rarely move down. Rents move up more slowly, and in many jurisdictions they are constrained by regulation or market realities.

Levinson’s view is that this gap will not close on its own. Landlords who want to stay in the market need more predictable income, tighter control of costs, and clearer systems for dealing with risk.

A property management model built for volatility

Royal York Property Management did not start as an institutional platform. Levinson’s early clients were owners of single condominiums, duplexes, or small buildings who were struggling with irregular rent payments, surprise repairs, and complex rental rules.

Instead of handling each property ad hoc, he built a standardized operating model that treats every door as part of a wider portfolio. Each unit sits on a centralized platform that records rent, arrears, lease expiries, maintenance tickets, and legal actions. Owners see real-time statements and performance metrics rather than waiting for year-end reports.

That structure, combined with an internal maintenance and legal team, is designed to handle stress rather than avoid it. When markets are calm, the system may look conservative. When conditions worsen, it is what keeps owners in the black.

“Execution is everything” is how Levinson often frames it in interviews.

Turning rent into a more predictable income stream

The feature that first drew many investors to Royal York Property Management is its rental guarantee program in Ontario. Under this model, landlords receive their rent even if a tenant stops paying. RYPM takes responsibility for legal proceedings, arrears recovery, and re-leasing the unit, while the owner continues to receive income.

Independent profiles of the company describe this as one of the first large-scale rental guarantee frameworks in the Canadian market, and note that the firm manages tens of thousands of units under this structure.

The guarantee itself is closely tied to local law and does not transfer directly into every jurisdiction. The underlying logic, however, is straightforward:

Treat unpaid rent as a recurring and manageable risk rather than an occasional shock.
Price that risk into a clear product instead of handling each case informally.
Use scale, legal expertise, and data to keep default rates low and resolution times shorter.

For landlords who are facing mortgage renewals at higher interest rates, having a more stable rent stream can be the difference between holding a property and being forced to sell. That is one reason rental guarantee models have started to attract interest from investors outside Canada who are watching RYPM’s approach.

Using technology to see risk earlier

Behind the guarantee and the day-to-day operations is a technology stack that tries to surface problems before they become crises. Royal York Property Management’s internal platform uses data from payments, maintenance, and tenant behavior to flag risk signals and operational bottlenecks.

Examples include:

Tenants who move from on-time payments to repeated short delays.
Units where small repair tickets point to a larger capital issue ahead.
Buildings where complaint volumes suggest service gaps or staffing problems.

Rather than treating these as isolated events, the system aggregates patterns across thousands of units. That allows management to decide whether a problem is individual, building-specific, or systemic.

Levinson has also pushed this data outward. As a member of the Bank of Canada’s rental policy panel, he provides anonymized information on rent collection, defaults, and renewal behavior, which feeds into broader discussions about financial stability and housing policy.

The same data that protects a landlord’s cash flow in one building helps central bankers understand how higher rates are affecting thousands of households.

Why the Canadian case matters for global landlords

Several recent reports underline how closely rental markets are now tied to national economic performance. Tight rental supply and high rents are feeding inflation in many economies. At the same time, higher borrowing costs are discouraging new construction, which risks prolonging shortages.

This feedback loop is especially hard on small landlords. Many own only one or two properties and have limited room to absorb higher mortgage payments or extended vacancies. Analysts in Canada and abroad have warned that some owners are at risk of default as their loans reset at higher rates.

In that context, the Royal York Property Management model offers three lessons that travel across borders:

Standardization protects both sides. Clear processes for screening, rent collection, maintenance, and legal steps reduce surprises for owners and tenants at the same time.
Risk pooling is more efficient than one-off crises. Handling arrears, legal disputes, and vacancies inside a structured system is less costly than improvising each time.
Operational data belongs in policy conversations. When policymakers have access to real rental data rather than only mortgage statistics, interventions can be better targeted.

It is not an accident that Levinson’s work now sits at the intersection of private property management and public financial policy.

What everyday landlords can borrow from the Royal York playbook

Most landlords will not build a 25,000-unit management platform. Many will never interact with a central bank. The core ideas behind Nathan Levinson’s approach are still accessible to smaller owners that manage a handful of properties.

Three practices stand out.

First, treat every rental unit as part of a simple portfolio. That means using a consistent template to track rent, arrears, expenses, and vacancy days for each property, then reviewing it on a schedule instead of only when something goes wrong.

Second, write down the rules for risk in advance. Late-payment steps, repayment plans, documentation standards, and maintenance response times should exist on paper, not only in memory. Royal York’s experience suggests that clear rules reduce conflict, because everyone knows what will happen next.

Third, invest in service as a protective layer. Multiple independent profiles of RYPM point out that faster response times and transparent communication reduce tenant turnover and protect building condition, which in turn supports long-term returns.

For landlords and investors trying to navigate today’s volatile rental markets, the message from Royal York Property Management and Nathan Levinson is surprisingly simple. You cannot control interest rates or national housing policy. You can control how organized your portfolio is, how clearly you manage risk, and how consistent your operations feel to the people who live in your buildings.

For many, that shift from improvisation to structure is what will decide whether their rental properties remain a source of wealth or turn into a source of stress.