In the last two months Michael Marks has turned down a dozen offers to make keynote speeches at conferences. His company, construction startup Katerra, is three years old, but the attention surge is very recent. "Construction technology has gotten kinda buzzy," he says. But more likely, interest in Katerra has spiked because in January, the company landed an astounding $867 million in venture funding led by the SoftBank Vision Fund. A deal of that size, led by the venture industry's most talked-about fund, will put a company on the map overnight.
A lot has been discussed about the impact of technology on real estate, but the most profound change brought about by technology is the slow, but definite change in mindset towards being a service industry. The most obvious driver has been the success of sharing economy models - be it the marketplace model offered by the likes of AirBnb or the co-working model that aims to redefine corporate workspace. Like all sharing economy models, the focus is on providing under-utilised real estate resources on demand, usually at significantly lower costs than conventional real estate products. Proptech companies have been attracting significant capital and automation is the focus across the real estate value chain. From the perspective of developers, innovation in construction materials and technologies has redefined the boundaries of building scale and efficiency.
Budget 2020: India has made rapid strides in expanding the MSME (Micro, Small and Medium Enterprise) sector and adopting digital technologies. Technologies like Artificial Intelligence (AI) offer great promise and raise apprehensions at the same time and it will take the concerted efforts of all key stakeholders in the ecosystem to create a framework for maximum benefit while acknowledging the challenges in the most pragmatic manner possible. Here, we seek to explore how best the AI technology toolkit can accelerate business performance for MSMEs; followed up with a set of recommendations for the key stakeholders in this arena. The time is right and it is now. Embedding AI across key business functions has the potential of driving exponential impact on key business levers- innovation, growth and efficiency.
Mumbai (Maharashtra) [India], May 7 (ANI/NewsVoir): Since the dawn of the 2000s, Artificial Intelligence (AI) has been making waves through its penetration into various sectors. While AI helps increase efficiency and speed in a system, the lack of feedback when faced with errors has been a glaring concern. Recently developed Explainable Artificial Intelligence (XAI) technology tackles this issue by analyzing data to provide users with explanations for given issues and activities. Utilizing this technology to create investment strategies, Elystar aims to increase net returns by reducing machine/AI-made errors and thereby successfully leveraging the superior insights provided by AI. "Artificial Intelligence in finance is a relatively new concept that is still being explored and experimented upon. While few of the firms experimenting are sparingly using it for short-term trading, we have spent the past 15 months developing models to use it for long-term investments. One simple way to look at this concept is to compare it with Microsoft Excel. While Excel is used in different fields and by different people, it is used in various ways and forms. Similarly, AI has a number of variations in which it can be utilized, so no two approaches may be completely the same. AI not only helps us scale and analyze data rapidly, but the integration of Explainable AI allows us to understand and eliminate unwarranted biases to create a sound investment strategy," said Dr Satya Gautam Vadlamudi, Founder and CEO of Elystar.
Artificial intelligence is disrupting the global real estate industry. Most of the high-end realtors are now incorporating data pipelines and algorithms into their decision-making process, and the results are telling. Information management is the key application of AI in the real estate industry. Let's find out how exactly AI and ML are changing real estate. AI has applications in estimating the market value of properties and predicting their future price trajectory.