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How AI Is Really Going To Change Real Estate In 2020 And Beyond.
What it is: By 2030, AI is estimated to add over $15 trillion to the global GDP, according to PwC.
And among industries most affected, real estate holds a plethora of AI opportunities over the next decade. While many real estate firms already use virtual reality, smart contracts, virtual assistants, and voice bots to assist customers, countless unrealized opportunities remain. Susanne Eickermann-Riepe, Head of Real Estate at PwC Germany, points to four main applications of AI in real estate: (1) automating routine tasks; (2) augmenting intelligence to help people accomplish tasks more efficiently and productively; (3) expanding business intelligence to inform better human decisions; and (4) fully autonomous AI decision-making. In the wake of surging data collection, AI algorithms will also inform more effective marketing efforts, for instance predicting when a prospect might sell or purchase a property, and at what price.'
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