How Artificial Intelligence is Changing the Real Estate Industry

<p>Making informed home decisions with innovative data is transforming the way the real estate market operates. Data Hunters chats with Malcolm Cannon of Quantarium on how AI and computer vision are transforming the real estate industry.</p> <p>The use of many data points, ranging from historical pricing and trends to property ownership information, is nothing new. However, the data we use to make housing decisions has become more complex. Property values are provided by Quantarium's valuation algorithms, which use a self-learning AI engine. Quantarium's innovations in Computer Vision (CV) technology are allowing AVM to break free from past limits; understanding their path and the influence of AI is crucial for the future of real estate.</p> <p>Quantarium is a market leader in the production and distribution of value-added data in residential real estate. Their data and analytics scientists and specialists shown remarkable ingenuity in their approach to establishing the industry's premier RE data lake, so receiving this honour is a team-wide confirmation. Cannon explained the possibilities of this space when asked: "Residential real estate in the United States is worth $45 trillion in total. Furthermore, homes are the most important and significant investment/asset for the majority of families. As a result, dependable, intelligent, timely, accurate, and accessible real estate data is critical not only to this sector but to the entire economy. PropTech, as the business has been dubbed, is a thriving industry, and we're excited not only to be a part of it, but also to help other players tell their story."</p> <p>Quantarium's product and customer journey provide an intriguing glimpse into how artificial intelligence is being used in real estate. They began with an idea and ended up developing the industry's leading Automated Valuation Model, AVM, which continues to break the tape in the AVM race. They used their skills and experience to create a Data and Search platform for real estate that is driven by the indus