Chatbots & AI in Real Estate
Chatbots…on steroids!
Remember the days when chatbots were just starting to come out? Well, as the globe is overtaken by ChatGPT created by OpenAI. They offer their language models via API for companies to integrate and build products. This has sparked a revolution of new Chatbots ranging from helpful assistants that make it seem as though you are talking with a real person to more… interesting ideas like talking with your past loved ones.
With virtually every industry being touched in some form or fashion by AI via ChatGPT, Real Estate is no different. There are some interesting chatbots coming out that help you find homes based on MLS up-to-date data or investment chatbots. More recently, we’ve introduced our very own Tenant ChatGPT that helps tenants solve maintenance issues before alerting the property management team via a chatbot.
AI via APIs
As more companies compete against OpenAI by creating their own AI (machine learning) models and give the general public easy access through a single and simple API. It is inevitable that AI will play a role in helping real estate software become more robust and “thoughtful”. Leveraging these APIs through 10–5 minute integrations for software teams and plugging them into areas of your system. Provide quick and meaning features that will enhance #proptech as we know.
Chatbots are a very good use-case for us to review in how the impact of AI being readily accessible, plays a game-changing opportunity. With Real Estate being a wealth massive amounts of stored data, you don’t have to make sense of it all. Instead you can leverage AI (chatgpt models are amazing at this) to process, analyze, and provide reasonable information or assumptions about vast amounts of information. At incredible speeds.
The impact this has in our example, chatbots, is that we can now process mass mountains of data and receive, for example, human like responses in seconds. Let’s say you want to find more about the best zipcodes in your state to invest in and you have sitting on hand the entire last 10 years of growth per zipcode. In moments, you could get a reasonable response back as if you were talking to an investor, about the analysis and projections and likely best zipcode to invest in.
APIs are the key to connecting, accessing, and sharing this data. We are just at the beginning stages of commercialization across every industry and I’m excited to see where this takes us!
About the Author
David Biga is the CEO & Founder of Particle Space. A previous tech-founder of numerous startups, David turned his attention and passion for the Real Estate industry by first creating a solution around the Property Management industry. Through that experience, David saw a major need in bridging the gap between data and people for Real Estate.
At Particle Space, we make it easy for real estate businesses to connect and access their real estate data in one platform. We do this by providing our customers’ with a suite of business tools and APIs.
