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Artificial Intelligence in PropTech

Worthy of the hype?

(Credit: Singularity Hub)

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.

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