Artificial intelligence for real estate valuation: a revolutionary opportunity for the real estate industry

Abstract

For several years, the real estate sector has evolved considerably due to the arrival of new technologies that have disrupted the uses and decision-making process of real estate industry players.

Real estate expertise is likely to face significant changes mainly related to shareholders' expectations and technological developments in Big Data, Blockchain, artificial intelligence and probably especially to the widespread application of automated valuation models. Artificial intelligence combined with the recent increase in the quality of real estate data, and new modeling techniques to process them have opened new possibilities for the automated valuation models.

The contribution aims to provide a special reading on the application of artificial intelligence for automated real estate valuation. It follows that automated valuation models have evolved beyond the limitations of traditional models with the advent of artificial intelligence; however, the relevance of the results remains dependent on the relevance and quality of the data used.