Artificial intelligence and real estate - not just an evolution, a real game changer!

IF 1.6 Q3 BUSINESS, FINANCE
Marcelo Cajias
{"title":"Artificial intelligence and real estate - not just an evolution, a real game changer!","authors":"Marcelo Cajias","doi":"10.1108/jpif-06-2020-0063","DOIUrl":null,"url":null,"abstract":"PurposeDigitalisation and AI are the most intensively discussed topics in the real estate industry. The subject aims at increasing the efficiency of existing processes and the institutional side of the industry is really interested. And in some ways, this is a breakthrough. This article elaborates on the current status quo and future path of the industry.Design/methodology/approachThe real estate industry is evolving, and parts of the business are increasingly being conquered by “proptechs” and “fintechs”. They have come into real estate to stay not because they discovered inefficiencies in the way one manages and does business with real estate, but because they come with an arsenal of new technologies that can change the whole game. The article discusses a path for changing the game in real estate.Findings“location, location, location” has now evolved to “data, data, data”. However, there is one essential aspect that must be considered before the latter can become the real value creator: the ability of market players to analyse data. And this does not mean being an excellent Excel user. The near future sees a solution called Explainable Artificial Intelligence (XAI) meaning that the econometric world constructed decades ago has an expiry date.Originality/valueOne needs to delete two myths from their mind: data quantity is proportional to accurate insights and that bringing your data to a cloud will deliver you with all the insights your business needs almost immediately.","PeriodicalId":46429,"journal":{"name":"Journal of Property Investment & Finance","volume":null,"pages":null},"PeriodicalIF":1.6000,"publicationDate":"2020-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jpif-06-2020-0063","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Property Investment & Finance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/jpif-06-2020-0063","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0

Abstract

PurposeDigitalisation and AI are the most intensively discussed topics in the real estate industry. The subject aims at increasing the efficiency of existing processes and the institutional side of the industry is really interested. And in some ways, this is a breakthrough. This article elaborates on the current status quo and future path of the industry.Design/methodology/approachThe real estate industry is evolving, and parts of the business are increasingly being conquered by “proptechs” and “fintechs”. They have come into real estate to stay not because they discovered inefficiencies in the way one manages and does business with real estate, but because they come with an arsenal of new technologies that can change the whole game. The article discusses a path for changing the game in real estate.Findings“location, location, location” has now evolved to “data, data, data”. However, there is one essential aspect that must be considered before the latter can become the real value creator: the ability of market players to analyse data. And this does not mean being an excellent Excel user. The near future sees a solution called Explainable Artificial Intelligence (XAI) meaning that the econometric world constructed decades ago has an expiry date.Originality/valueOne needs to delete two myths from their mind: data quantity is proportional to accurate insights and that bringing your data to a cloud will deliver you with all the insights your business needs almost immediately.
人工智能和房地产——不仅仅是一种进化,而是真正的游戏规则改变者!
数字化和人工智能是房地产行业讨论最激烈的话题。该主题旨在提高现有流程的效率,并且该行业的机构方面确实感兴趣。在某些方面,这是一个突破。本文阐述了该行业的现状和未来发展路径。设计/方法/方法房地产行业正在发展,部分业务越来越多地被“预测技术”和“金融技术”征服。他们之所以进入房地产行业,不是因为他们发现房地产管理和交易的方式效率低下,而是因为他们拥有一系列可以改变整个游戏的新技术。本文探讨了改变房地产行业游戏规则的路径。“位置、位置、位置”现在已经演变为“数据、数据、数据”。然而,在后者成为真正的价值创造者之前,必须考虑一个重要方面:市场参与者分析数据的能力。这并不意味着你要成为一个优秀的Excel用户。在不久的将来,我们会看到一种名为可解释人工智能(XAI)的解决方案,这意味着几十年前构建的计量经济学世界有了一个失效日期。创意/价值one需要从他们的脑海中删除两个神话:数据量与准确的洞察力成正比,将数据带到云端将几乎立即为您提供业务所需的所有洞察力。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
CiteScore
3.50
自引率
23.10%
发文量
33
期刊介绍: Fully refereed papers on practice and methodology in the UK, continental Western Europe, emerging markets of Eastern Europe, China, Australasia, Africa and the USA, in the following areas: ■Academic papers on the latest research, thinking and developments ■Law reports assessing new legislation ■Market data for a comprehensive review of current research ■Practice papers - a forum for the exchange of ideas and experiences
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信