AISIX Solutions Inc. announced a strategic partnership with OctoAI Technologies Corp. executed on April 24, 2024. OctoAI is a property technology (proptech) company offering AI-driven insights for the multi-family residential sector with its Eli Report platform.

AISIX provides easy-to-understand and actionable climate risk assessments that are fully transparent and auditable. These assessments enable individuals, businesses, and governments to effectively analyze, manage, and mitigate climate-related risks such as wildfires, flooding, droughts, extreme weather events, and more. OctoAI's Eli Report platform enables real estate professionals to quickly and easily review key details from condo documents using AI to analyze and extract crucial information from years' worth of property documentation, enabling them to better inform their clients.

AISIX will grant OctoAI licensing rights to incorporate its detailed climate risk scores directly into the Eli Report platform. Climate-related physical risks, including wildfires, have the potential to significantly affect property valuations. The Centre on Climate Adaptation reported that climate change could reduce the value of homes in Canada by as much as 15% by 2050.

While flooding is a major concern, wildfires are also a critical weather-related hazard, especially given the increasing frequency and severity of such events. Like flood maps, wildfire risk assessments are often outdated, compromising the accuracy of current property valuations. In the U.S., research by the National Bureau of Economic Research indicates that homes in high-risk areas are subject to significant mispricing, akin to the $34 billion over value on found in flood- prone areas.