You may have become aware of the term Artificial Intelligence or AI for short.

And, you may be wondering exactly what AI is and what value it might have for you in your real estate business.

If so, read on as I attempt to answer your musings.

First of all, AI is essentially computer related.  Computers use a language called Binary Arithmetic to do everything from browsing the Internet to writing emails and and anything else that you do on your computer…or phone …or smart watch …or Smart TV …or iPad …you get the picture.  Binary arithmetic is the underpinning of all computing process (Quantum computing is a whole other story, but Quantum computers are not on the market yet)

Computers take the whole concept of “off and on (Binary)” and arrange the process in something we know as a computer program.  Essentially it’s like this: if this happened, then do that.  This is arranged with other rules so that the computer can do anything that it is PROGRAMMED to do.

AI, takes this to a whole different level.  

Essentially, AI attempts to simulate the human brain.  It does so by analyzing information and then responding appropriately. Over time the computer will “learn” how to do a task without having to reference a preprogrammed response.

My friend Joe Manning (Former IT and Marketing Director at a northern California real estate company) has written an excellent article on his blog that will give you a couple of examples that will illustrate what AI is capable of doing right now!  Take a moment to go to https://www.joemanning.com/goodbye-google-the-ai-revolution-is-here-and-we-get-it-too/ and read it. You will have to subscribe (it’s free) to read the article, but you can always unsubscribe later if you wish.

Although AI has been around in one form or another for decades, it’s only been in the last few years that it has taken off in our industry.

We can expect future advances to also help us with predicting who will sell, who will buy, pricing and much more.

My recommendation is that you pay attention to any news articles that you see relating to AI.  I think that AI will have a bigger impact on our industry that the Internet did back in the 90s!