Artificial intelligence in real estate
According to MITSloan Management Review artificial intelligence or AI in business gets real.
Many real estate firms have long made decisions based on a combination of intuition and traditional, retrospective data which make it challenging to draw clear hypotheses and build robust business cases.
To use machine learning algorithm data make it significantly easier to aggregate and interpret the not traditional real estate data. Traditional data have limited value to anticipate the future for e.g. developments regardless for residential or commercial. Advanced analytics can quickly identify areas of focus, then assess the potential of a given parcel with a predictive lens.