According to Fortune Business Insight, the worldwide Artificial Intelligence market is expected to grow from $47B in 2021 to $360B in 2028. With this, it should come as no surprise how enterprises increasingly adapt to AI at a rapid rate.
In fact, findings from the 2021 survey by McKinsey & Company revealed that AI adoption is steadily increasing, with 56 percent of all respondents reporting AI adoption in at least one function in their organizations.
Artificial intelligence appears to have infiltrated every business by 2021, and real estate is no exception. AI has the potential to change the way we live and work, and now how we buy houses.
Let’s look at how effective AI can be for the future of home buying.
AI is “the science and engineering of making intelligent machines, especially intelligent computer programs,” according to John McCarthy, the father of AI and the man who coined the term. These intelligent machines use computing power to discover patterns in data and are then able to perform tasks that humans would normally do.
McCarthy is regarded as a pioneer in the discipline, with Claude Shannon, Marvin Minsky, and Nathaniel Rochester. He also created the LISP programming language, in addition to AI. It’s one of the first programming languages that’s being used today.
On the other hand, software journalist Kaya Ismail defines an algorithm as a “collection of instructions,” or a method for processing data. AI takes this a step further, consisting of a collection of algorithms that can adapt and rewrite itself in reaction to the data entered, thereby demonstrating “intelligence.”
The future impact AI will have on the Boston condo market is huge
AI is gradually changing the future of Boston condo buying and it’s poised to play a significantly more active role, beyond a site that merely lists listed properties. It is possible that AI and machine learning will have an impact on every part of the homebuying process.
AI-based…