Real estate sector to experience great hype with AI tech

AI has become a new trendsetter in every industry around the world. Now experts are expecting a great hype in real estate with AI tech. As Omicron is wide-spreading, the Real Estate sector required AI and ML to maintain its profitability. That's why early stages of deployment have been started and expected a launch this year.

Introduction:

AI (Artificial Intelligence) is the most appreciated technology of all time. From healthcare to manufacturing, almost every industry is practicing AI tech. The real estate sector is no exception here. Morgan Stanley Capital International (MSCI) has expected a rise of $9.6 trillion in the real estate industry around the world.

If we talk about technology, AI is famous for its sophisticated algorithms that offer accurate predictions. From customers to suppliers, it will add automation in every sector of the real estate industry. Especially in the Omicron pandemic, lockdowns restrictions may affect businesses in India and AI can help them meet customer needs.

On this, Pankaj Bansal, Director of M3M India opens up their thoughts. M3M India is one of the top real-estate developers in North India. Now, the company is looking forward to introducing both AI and ML technology in real estate in 2022.

According to Pankaj Bansal, “As a real-estate developer, M3M expect AI and ML to aid the needs of all stakeholders. The technology will offer thousands of construction options and extreme assistance after the implementation. From sunlight to Vastu, AI will assist real-estate developers in accurate decision-making.

With AI, we also expect micro-checking mechanisms during both designing and constructing the premises. It will analyze, evaluate and assist businesses with various solutions while preventing human errors. Hence, developers will not experience troubles in attracting customers and selling the properties."

“Not only does it help in construction, but AI will also help businesses in lead generation in 2022. In this, AI programs will collect and analyze consumer information and suggest innovative strategies to reach them. Real-estate developers can create and improve their marketing strategies based on AI suggestions" Pankaj added.

It may surprise you that the real estate industry contributes over 13% of the total GDP in India. Now with AI experts report estimation of 1 trillion USD by 2030 after the successful implementation. As an IT service provider, Shriji Solutions is also excited to see how AI will add automation in real estate. If you're looking for any IT services, our experienced professionals are here to help you.