By Bob Senel
Artificial Intelligence is the capability of a machine to solve problems by learning their behaviors and pattern over a period of time. It can be associated with the process a human brain processes information, evaluates it and then take a final decision. This technology was previously a part of only science fiction but slowly and gradually it has been able to make its path in fraud detection, video recommendation to self-driving cars and this is not the end. The technology is still in its early stages of development but is driving attention of both innovators and investors. The time is near that AI will soon enter the consumer market and will help real estate agents, home buyers and home sellers in matching their home requirements.
With the advent of the internet and technological advances people now prefer buying a home without an agent while only 15% to 25% of the home transactions are accomplished without the service of a real estate agent. Making use of this data an AI system can be introduced into the real estate market which can be made active using regression analysis; through which system will learn from previous home buying, selling and rent patterns. After the introduction of these systems, it will pose a challenge for both homeowners and real estate agents.
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Most people today consider buying a home without an agent but only 10% to 20% of the home buying sales transactions are completed without the services of a real estate agent. On one hand, this technology is useful while on the other hand, it will pose challenges also for the home inspectors and home buyers. An AI-based smart home will require additional understanding and knowledge of the devices and technologies which are applied in making a home comfortable and easy to use. For instance, an AI-based home will include automatic smoke and light detectors while the other significant mechanism to note is programmable door locks which can either act as powerful elements of security or they can be misused as access points for security breaches within your home. Further, there are some other security concerns which are related to cloud computing and information storage and access in virtual place in this digital world.
Considering the above mentioned artificial intelligence concerns it will be required to have trained real estate agents who are well-versed with such technologies and can also help their prospective clients in understanding such system. Similarly, home inspectors will also be required to attain new certifications and training on AI system implementation in the home and learn how such systems can be cross-checked for identifying security breaches. Human brains are regarded as most powerful machines as its architecture is completely unique and possess the capacity to hold millions of information in their interconnected layers of neurons. In the same way, it is anticipated that AI will overtake this industry as there are many layers which are still hidden and needs to be unfolded which can make life easy for us by connecting in a more personal way knowing our preferences and relevant information. If you do all this without any agent or home inspector there are chances that you can be deceived or you will have to face problems in near future.
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About Bob Senel
Consultant and trainer, retired general contractor from 1983 to 2012, founder of multiple inspection companies; residential, commercial and industrial inspector from 1978 to the present, California representative for IESO (Indoor Environmental Standards Association), founder of Mold in California and GAPIC (Global Association of Professional Inspectors and Contractors). Affiliations: CCC, CCI, CCPM, ICBO, IESO, CRMI, RMP, GAPIC.
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