People often throw around terms like artificial intelligence (AI), machine learning (ML), and predictive analytics interchangeably in conversations about new real estate tech. We constantly hear things about: AI-powered “bots” that serve as an agent’s personal assistant Products that “learn” how to respond to leads Predictive models used to identify who’s going to sell and when These technologies hold enormous possibilities, which is why I think it’s important to understand what they can do and what they mean for the business of real estate. Agents and brokers will become more efficient and productive because of them. Despite all the buzz, there’s a lot of confusion about what these things actually are, how they relate to one another and how they can be put to work. You may have wanted to ask, “well, what is that?” or “are those really the same thing?” Even a quick Google search may leave you more confused than when you started. I, ther...
- Artificial intelligence (AI) is the broad umbrella term for intelligent systems driven by algorithms .
- Machine learning, a fundamental branch of AI, enables machines to learn on their own.
- Predictive analytics use past data to predict or estimate a future phenomenon.