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May 9, 2019
Or Hiltch led a quick-hit 15 minute discussion on Machine Learning and Artificial Intelligence in real estate. In 2017, Or co-founded Skyline AI, an artificial intelligence platform for acquiring and operating institutional-grade commercial real estate investments.
Most problem solving methods have centered on human capacity to identify, analyze, and find solutions to problems in life and business. This is no different in real estate development and investing. However, with the explosion of available data and strengthening computing power, we can now solve problems with an approach that goes well beyond human capacity. Welcome to Machine Learning.
Machine learning is more than just code computing. Machine learning is the ability to perform a specific task without a clearly defined set of instructions and instead relying on patterns and inference. It’s a subset of Artificial Intelligence.
How does machine learning work in real estate? Computers can give us answers based on rules and assumptions we tell them to make, but machine learning can actually predict outcomes in the future based on a combination of data, models, expectations, and desired outcomes, with a high degree of accuracy.
During the presentation, Or gave an example of how machine learning helps them identify real estate assets with untapped value. He identified an asset using a Machine Learning model that wasn’t yet on the market. The model produced a rent prediction for the asset, a market grade, and an asset value prediction using many sources of data that went into the model. The final result was a time-frame prediction for when an asset would come onto the market at a specific value with a high degree of confidence.
Machine learning is a subset of artificial intelligence. AI is defined as the development of computing systems that are able to perform tasks normally required by human intelligence. As more and more data become available, the power and potential of AI and machine learning to make decisions for real estate investment becomes boundless.
HOW TO WIN WITH PRACTICAL APPLICATIONS OF ARTIFICIAL INTELLIGENCE (AI) IN CRE INVESTING
PRESENTER
• Or Hiltch, Chief Technology Officer and Founder, Skyline AI
Click HERE to view PowerPoint Presentation
Click HERE to view a video recording
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