Artificial Intelligence trends for 4.0 real estate
Always staying on top of new trends for our partners, we wanted to report on interesting happenings in the property market in the first half of 2018. We found that the number of newly-launched projects is decreasing from last year’s numbers. Not surprisingly, Suburban Townhouses continue to take on a bigger market share since the cost of prime locations has been continually increasing. This has been causing an increasingly difficult situation for real estate professionals.
Perhaps it’s time for housing developers to start adopting a new approach to attract the modern 4.0 customer.
Artificial Intelligence (AI) might be the answer. AI is something you might have seen in movies or in the news lately, it’s a technology that allows machines and other programs to mimic the “cognitive” functions in humans. AI is even able to communicate via human language, solve a problem, learn new things and even provide a better service to your customers.
In the housing industry, AI technology was adopted to facilitate residents in various creative ways. For example when customers send a message a “Chatbot” replies with standardized answers to frequently asked questions. Or there is also technology to keep watch over your home while you are away.
2018 has started with a fierce competition within the housing industry here in Thailand. Sansiri utilise “Nong Sandee” as a mailman for its tenants while Ananda announced the UrbanTech plan which aims to utilise AI technology to improve the quality of life to residents. Online property sites are also jumping on the opportunity to deliver an even greater value. For example DDproperty applied the AI technology to their website and smartphone app.
The Thai housing industry is not the only country to adopt AI technology, the second-hand house traders in Japan also embraced AI technology to evaluate property value by analyzing data. In particular, they used this data in order to maintain fair competition in the market.
At this point, you can see that there are numerous opportunities awaiting you if you embrace the needs of the 4.0 customer. At Heroleads, we have housing industry specialists who possess an exceptional knowledge of digital marketing, AI, and all the tools necessary to find success. Contact us for a free consulting and let us drive your business to new heights.