Artificial Intelligence, or AI, is a form of technology in which computer software can mimic or copy information and patterns from human intelligence. AI technology has expanded in the past few years with such programs as DALL-E, ChatGPT, Open AI, and more. These forms of technology can also be used to imitate human intelligence to accomplish certain tasks, such as virtual assistants, social media algorithm, facial recognition, and even self-driving cars. These programs can produce imitations of human production such as art, research, and speech. While can be useful in assistance, it is important to know how to use it to avoid copyright and plagiarism.
How to Use it in Real Estate
In real estate, AI can be used to analyze data in large proportions, such as property listings, real-time values on a home, and even sales information to identify potential buyers. Predictive analysis can be useful to predict the market in such ways as figuring out the market. Predicting the value of a property and the market in general can be very difficult and take up immense amounts of time. This is where AI can come in with taking patterns and data to then evaluate the possible future value of said property by analyzing different factors such as crimes rates, public transportation, recreational facilities, pollution levels, and more. Alongside predicting that information, it can also provide current statistics in a matter of seconds as well.
AI recognizing patterns means it can recognize the patterns of what a client wants out of the property. AI is able to keep track of the customer’s real-time property searches, purchase history, property characteristic preferences, and other filtered searches that can be a huge advantage and time saver for companies that can use AI.
While AI-based real estate platforms can provide impressive information, there is still a significant amount of interpretation that requires an expert in order to make the results practical. Ideally, AI will aid agents in performing their jobs more effectively and creating better-informed consumers.
AI is a relatively new technology, and its potential uses in the realm of real estate are still unknown. However, the possibilities are practically endless, and we are excited to see where it may lead in the future.