As we move further into the Futurization of Real Estate, Artificial Intelligence (AI) is transforming and enhancing real estate transactions for both buyers and real estate professionals.
Merriam-Webster defines Artificial Intelligence as “the capability of a machine to imitate intelligent human behaviour.” According to CNBC, AI is the latest competition for real estate agents. While real estate has always been very relationship-driven, computers can process and analyze thousands of data points, targeting and assisting buyers in a way that humans can’t. AI improves efficiency, reduces costs, and can act as a round-the-clock source of information and support.
However, many people still prefer to deal with an actual person when purchasing a property. For that reason, AI is very effective when it is utilized together with real-life agents. AI can also assist agents themselves by automating work and increasing productivity.
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