Real Estate Investor Magazine South Africa Real Estate Investor Magazine March 2018 | Page 24

TECHNOLOGY
Get an Edge
Artificial intelligence
and property
BY MONIQUE DU TOIT
A
rtificial Intelligence, or AI, has been touted the next
big deal in technology. Whether you subscribe to the
thought that machines will one day kill the human
race, or believe it will lead to a more sophisticated and intel-
ligent life for all, it’s difficult to live in today’s world and not
see some evidence of AI.
Vian Chinner, CEO of AI developer firm Xineoh, explains
that “AI has proven in other industries that it can accurately
identify the core of what a user is interested in, including
being able to predict a user’s personality, to a higher accuracy
than their own mothers.” Platforms like Amazon implement
the technology to, to a large degree accurately, learn and pre-
dict what users want. This has the immediate advantage of
saving the user time.
Online property search
We know that online search portals have become the method
of choice for many homebuyers. The convenience of being
able to look at multiple properties from the comfort of one’s
couch is tough to deny. But it’s by no means a perfect system.
PLANNING FOR THE FUTURE
As it advances, AI will be able to predict what
we need and when. We already see this in smart
homes, with fridges telling us it’s time to buy milk.
So what’s stopping us from learning more about
the future trends in terms of population growth,
demand for schooling, performing real estate
sectors, and any other imaginable data
This information could be used to predict where
the next upcoming area will be, where to invest
in infrastructure, and how rental units are likely to
perform.
Over time, we will be able to plan for a realistic
future, rather than scrambling to catch up.
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MARCH 2018 SA Real Estate Investor Magazine