Real Estate

Making AI work in real estate


Artificial intelligence (AI) is simply the level of intelligence displayed by machines. While mostly associated with science fiction and futuristic technology, AI is actually a lot more ubiquitous nowadays than one might expect. Some of the AI applications that are already out in the public include those in self-driving vehicles, search engines such as Google, financial services, health care and even in art and video games. Now, the obvious question is, how is AI useful in real estate? In particular, in Dubai's real estate landscape are there initiatives to embrace the technology and make it more meaningful to landlords, homeowners and realtors?

AI and real estate: Fear or awe


THIS is part of my ongoing series on technology and real estate. The focus is on artificial intelligence (AI), which has been casting a dark shadow on the Philippine business-process outsourcing (BPO) industry. According to the Oxford dictionary, AI is "the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making and translation between languages." Artificial intelligence has great potential to disrupt existing industries and traditional work practices across the world. And the Philippines is no exception.

Former Angel Garret Anderson sells his home base in Irvine for $9.6 million

Los Angeles Times

Garret Anderson, the former slugging outfielder for the Angels and Dodgers, has parted ways with his personal dugout in Irvine. He's sold his estate in the Shady Canyon community for $9.644 million. Built in 2009, the Spanish-style mansion features such Old World details as a clay-tiled roof, white-plaster walls and broad archways. A circular foyer, grand living and dining rooms, a library, a game room and a chef's kitchen are among the living spaces. Separate his and hers bathrooms highlight the master wing, which opens to a private patio with a spa.

High-tech neuroprosthetic 'Luke' arm lets amputee touch and feel again


"When I went to grab something, I could feel myself grabbing it. When I thought about moving this or that finger, it would move almost right away," Keven Walgamott said. "I don't know how to describe it except that it was like I had a hand again." Walgamott was describing the results of an experimental surgery to The Washington Post, where a prosthetic known as the "Luke" arm had been attached with electrodes implanted into his nerves. The real estate agent had lost his hand and most of his arm in an electrical accident 14 years ago, and he volunteered for the program at the University of Utah.

Artificial Intelligence Gives Investors an Advantage When Shopping for Real Estate Online – HomeUnion


Artificial Intelligence (AI)/machine learning has been one of the hottest topics among the tech community in recent years. Unlike natural intelligence utilized by humans, artificial intelligence is applied when a machine mimics cognitive functions, such as problem-solving. But how is AI helping consumers with their real estate investment goals, especially as prices rise, inventory dwindles and competition intensifies? "We are constantly utilizing AI/machine learning to give investors a competitive edge and to improve the home buying, selling and renting experience," explains Ramin Vatanparast, VP of Product and Data for HomeUnion. Recommendation Engine Customizes Your Properties "To help our users, we developed a recommendation engine that determines the best investment portfolio based on their customized preferences.

The growing importance of machine learning in real estate transactions


The European real estate sector continues to flourish in regions such as the UK and Germany, despite strong and unpredictable economic and political headwinds. Successful transactions depend on high quality and detailed due diligence, but competition for the most lucrative deals can sometimes lead organisations to compromise on this stage of the process. The biggest challenge is that the size of real estate transactions is increasing exponentially because of regulatory and compliance requirements and also because of the broader volumes and types of documents involved. This means that more manual processes are required simply to find the right data. The trend for higher volumes and larger transactions in real estate, including higher levels of risk and multiple languages, has important implications for the way in which investment professionals manage the greater complexity of due diligence.

Bill Gates spends $80m on Arizona land to build smart city

Daily Mail

Bill Gates has bought $80 million (£61 million) worth of arid desert in Arizona to build a new'smart city'. The planned community, known as Belmont, will be designed around cutting-edge technology, including self-driving cars and high-speed data networks. The city will be built on a 25,000-acre plot in a remote area in Tonopah, around 50 miles (80 km) west of Phoenix. Bill Gates has bought $80 million (£61 million) worth of arid desert in Arizona to build a new'smart city' One of Bill Gates' investment groups has bought 25,000 acres of land in a remote area in Arizona. Belmont Partners, the real estate developer behind the project, said the goal is to turn the area into a'smart city'.

Bill Gates firm buys Arizona land for $80 million to create 'smart city'

FOX News

A real estate investment firm owned by Bill Gates recently bought land in Arizona for $80 million to be developed into a "smart city." A real estate investment firm owned by Bill Gates recently bought a giant plot of land in Arizona for $80 million to be developed into a "smart city." Arizona-based Belmont Partners, one of Gates' investment firms, purchased close to 25,000 acres of land in Tonopah, around 50 miles west of Phoenix, to create a "smart city" called Belmont, KPNX reported. "Belmont will create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs," Belmont Partners said in a press release, according to KPNX. The community "will transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model," according to Belmont Properties.

AI will continue to shake up real estate in 2018


Whether you view AI as a technological "holy grail," like Bill Gates, or "summoning the demon," like Elon Musk, there's consensus that, one way or another, AI will transform life as we know it. Multiple industries will feel the impact of this growth, including real estate, where AI continues to transform how agents approach their work. Between 2010 and 2014, global investments in AI technology grew from $1.7 billion to $14.9 billion, according to eMarketer, and global AI revenue is expected to reach $36.8 billion by 2025. By 2018, IDC predicts that 75 percent of developer teams will use AI technology in one or more business applications or services. At its core, AI is an enabling layer of technology that leverages computers to instantly sort through massive amounts of big data to identify trends or opportunities.

Will The AI Jobs Revolution Bring About Human Revolt, Too?

International Business Times

The rise of artificial intelligence threatens to eliminate jobs once considered impossible to automate. One series of papers by Oxford researchers ranks jobs by their estimated susceptibility to automation. Among those most rated likely to vanish – because they involve work that AI can increasingly accomplish less expensively – are real estate brokers, insurance claims adjusters and sports referees. Could anything good come of mass unemployment? History tells us that when technology squeezes people out of jobs, they revolt.