Artificial intelligence and machine learning : current applications in real estate

Abstract

Real estate meets machine learning: real contribution or just hype? Creating and managing the built environment is a complicated task fraught with difficult decisions, challenging relationships, and a multitude of variables. Today's technology experts are building computers and software that can help resolve many of these challenges, some of them using what is broadly called artificial intelligence and machine learning. This thesis will define machine learning and artificial intelligence for the investor and real estate audience, examine the ways in which these new analytic, predictive, and automating technologies are being used in the real estate industry, and postulate potential future applications and associated challenges. Machine learning and artificial intelligence can and will be used to facilitate real estate investment in myriad ways, spanning all aspects of the real estate profession -- from property management, to investment decisions, to development processes -- transforming real estate into a more efficient and data-driven industry.