How are entrepreneurs using artificial intelligence in cryptocurrency, real estate, medicine, in the manufacturing industrial and to fund real estate projects in USA? You may not know but these things are already playing out. Most industries that are booming today is because smart entrepreneurs are using A.I. to do the unimaginable.
How Entrepreneurs Use A.I. in Cryptocurrency Trading
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Everyone wants to make the smartest investment possible. In 2017, that meant cryptocurrencies.
Everyone was investing, and making astronomical returns on their investment. Many people know that millionaires were made every day, thanks to cryptocurrency speculation.
Overtime, many automated trading tools were created that used artificial intelligence to auto-trade on behalf of crypto speculators. They were simply out of this world.
How Entrepreneurs Are Using A.I. in Real Estate Transactions
In 2018, the trend seems to have shifted to conventional real estate transactions. There you will see top entrepreneurs using artificial intelligence to fund real estate projects in the U.S.
Numerous startups, and fintech companies, were creating their own version of A.I. in real estate transactions.
While the AI hype isn’t anything new – it has definitely become louder. In 2017, real estate accounted for 13.4% of the U.S. GDP. That’s more than any other industry in the United States of America. Real Estate construction alone, contributed to more than $1 trillion for the US economy.
Needless to say, real estate – and real estate transactions – are a huge chunk of the US economy. It’s fertile ground, ripe for innovation.
So in this article we shall be discussing how artificial intelligence is being used for innovation in the real estate sector of United States. We’ll go over several startups and how they are using A.I. to innovate.
How Startups Use Artificial Intelligence in Real Estate to Innovate
Essentially AI in real estate can be condensed into a few different segments. AI is being used to do research on properties, identify target properties that are most likely to increase in price, and determine which properties should be awarded funding.
With the gentrification of numerous neighborhoods, there’s a lot of development going on all over the USA. Many neighborhoods are seeing an increase in their property value, with no clear trend. Often, there’s a combination of micro and macro events that result in the neighborhood prospering. Below are some noteworthy AI real estate tech startups that are noteworthy for one reason or another.
List of Artificial Intelligence Real Estate Tech Startups
Skyline is an Israeli company that raised $3 million from Sequoia capital. The startup claims its A.I. technology can tell investors what properties will offer the best return on investment by taking in data from over 130 sources, and over 10,000 attributes on every property – going back 50 years.
Literally, this is huge! It takes in massive amounts of data and gives smart recommendations. This is an example of AI being used to provide valuable actionable insights for investors. In August of 2018, Skyline took in an additional 18 million in Series A funding led by Sequoia Capital.
Proportunity is a London based tech company that raised $1.7 million last year. It claims it has an algorithm which can forecast which homes will experience the biggest bump in value over a period of time.
They use an AI platform that looks at things like location, crime, schools, transportation, and other metadata. It’s huge. It figures out which factors affect price, and how much the price will increase. According to the company, the AI is right about 85% of the time.
This company called, ENODO took in $2.5 million last year for it’s commercial multi-family platform. They identify attractive investment properties that can be turned around. The company claims it can identify which properties can be fixed-up and improved in value.
- Delancey Street
Delancey Street is a tech startup that provides funding to real estate investors. Instead of focusing on the real estate – Delancey Street provides hard money loans to the real estate investors.
Delancey Street claims it has an AI that is able to assess the likelihood of an investment failing or succeeding. They have a number of data points they look at, both at the investor and the target investment property.
By using all these data points, the tech startup claims it can make intelligent decisions on which investment property to lend on.
You must be screaming wow at this point, right? We guessed it correctly. Well, this is just to let you know that artificial intelligence is rapidly changing things. Of course, they are not here to compete with you but to help you make smarter decision. If you improve on your craft and continue to do so, you will be glad at what A.I. can help you achieve in the real estate sector.