3 Ways AI Is Revolutionizing The Real Estate IndustryJul 22, 2019
An AI-powered world is not a futuristic prediction — it is how our society is currently shaping up to be.
From self-driving cars to manufacturing automation, the impact of AI on industries across the world is expected to increase productivity by 40%.
When it comes to real estate, artificial intelligence (AI) will lead to a deeper understanding of the market and open up new opportunities for the industry.
AI’s ability to learn and derive insights from the massive deposit of data in the real estate industry will eventually lead us to more efficient agents and brokers, more satisfied clients, and outsized returns for investors.
Let’s see how Artificial Intelligence is revolutionizing the real estate industry today:
Leveraging Big Data
Traditionally, realtors and firms made decisions based on retrospective data, with a bit of intuition thrown in the mix. However, with the widespread adoption of Big Data today, the real estate industry is undergoing significant transformations.
It is quickly resolving the disconnect between the availability of data and the difficulty of harnessing it for actionable insights.
Now, stakeholders can make smarter decisions, as data analysis enables them to predict market risk and industry trends with greater accuracy.
Take BuildingIQ for example; this AI-powered application leverages data analysis to derive energy-based insights and services that allow for optimized energy usage, a higher degree of operational efficiency, and enhanced tenant comfort.
Similarly, CityBldr utilizes a unique combination of AI and data analysis to help property owners with single homes sell their property for the highest and best use; ultimately leading to higher returns.