6 Ways in Which Artificial Intelligence is Revolutionizing the Real Estate Business

November 28, 2018
business analytics

 

Real estate is not simply buying and selling lands and houses – there is a whole, large industry dedicated behind those acts. It is a given that the age of technology has also affected something that seems so analogous, so much that a huge part of that process has also digitised today. Artificial Intelligence is currently playing a large role in making the work of the decision-makers in the industry easier – let us take a look at how AI plays a huge role.

Recommendations

A large problem for real estate agents was the act of finding or recommending the perfect plot of real estate for a customer. This might not have been clear even after lengthy talks on the subject, but AI has been making that much easier. Since machine learning and AI feeds on data, the larger the amount of data, the better – they can now find the perfect piece of land.

Availability

The making and use of chatbots have now become an established part of many data science courses, and these can help real estate developers too. Chatbots can be used to learn about customer preference round the clock, and customers now have something to answer their simple questions and grievances at any time of the day.

 Prediction

AI is also able to make a large number of meaningful predictions, from the data provided to it. This can be beneficial in various models, like tracing the price of a particular plot or the changes in customer preferences.

 Automation

Real estate is an extremely documentation-heavy field, so it can be a chore to carry out all the documentation constantly. In this work, the use of AI could lead to quicker uploading and scanning of jobs and documents.

Virtual Tours

Another one of the path breaking implementations, people can now visit any plot of land on offer from any point in the world – virtually, of course. Virtual tours of the homes in question are truly making a huge difference in customer satisfaction and business development.

Disaster Management

Using AI systems, it is now possible for planners to run simulations and build proper disaster-resistant houses so that such natural disasters are mitigated when the inevitable occurs.

If you want to learn more about such important tools like AI or business analytics, you should definitely check out the business analytics training courses offered by Imarticus Learning!

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