Worthy of the hype?
Many real estate tech startups pride themselves on using Artificial Intelligence (AI) to solve many of the industry’s long standing problems. Although AI has a strong application in the real estate space, the term has unfortunately become a buzzword.
Definition from the AAAI “The scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines.”
A good example of AI… Fraud protection. Computers analyze a large sampling of non-fraudulent and fraudulent transactions to learn patterns of suspicious behavior. As additional transactions are analyzed, the computer becomes better at recognizing fraud and protecting consumers.
Hot words in the Valley: AI, neural networks, machine learning, and deep learning.