How AI can drive the property industry forward

The property industry has been stagnant for decades. How we rent or buy property has not changed significantly since the late 1900s, with deposits still often required to be paid in hard cash and consumers obligated to trawl through countless listings to find a property they might be interested in – which may or may not have already been sold or let. However, a wave of technological innovation is sweeping in to transform this sleeping giant of an industry. Recognising the cultural shift towards mobile, social media and the desire for 24/7 flexible communication, start-ups determined on using the very latest software and technology are driving the industry forward firmly into the modern era. A huge part of this technological revolution is focused on harnessing predictive data analytics and machine learning. Machine learning (ML) has become something of a buzzword over the past few years and it is already starting to be integrated within several property platforms.