A new acquaintance told me during a lunch many weeks back that with artificial intelligence (A.I.), the property buying decision no longer needs to be influenced by real estate negotiators. He’s also a real estate negotiator (REN) himself. I told him that if the RENs are only opening doors with the owners’ keys and then wait for buyers’ decision, then it’s definitely a doomsday for them, with or without A.I.
However, if the REN is able to add value to the buyer by providing more relevant information and even value-added solutions, then these RENs would continue to prosper and well earn their millions year after year. Today, I read this article and it sort of changed my perspective a little. Article in USAtoday.com: IBM shows off an artificial intelligence that can debate a human and change some minds. In brief, this IBM computer squared off against two human debaters on some topics and eventhough both the human debaters won, the IBM computer managed to change the minds of people with their ‘knowledge enrichment.’
What happened during the debate is that the computer debater used IBM Cloud to scan billions of sentences to generate a coherent and persuasive position on the various topics. The machine then listens to its opponent’s speech and generates what IBM claims is a spontaneous compelling rebuttal, exhibiting a type of argumentation that until recently was simply out of reach for the machines. (Yes, it sounds like a human but billions of sentences is not possible for any human. The only reason why a human could beat it currently is because the computer still could not hold its own on “listening comprehension or constructing a speech that can either be spoken or written or understanding the nuances of claims, meaning what supports a proposition or what may be against a proposition.” Please note that this debater is already able to rebut the human debaters points with points it found during its scanning!)
Some humour on what may happen:
Prospective buyer: Will there be jams around this area? (At the same time opens his A.I. app downloaded for free from online)
REN: Do not worry, the only jam is on the main road and is between 7am to 8am. After that, the road clears up.
Prospective buyer’s A.I. App: (using sound of a famous American actress): That’s not entirely true. Within the past 7 days, the median duration for jams on the main road is 78 minutes. This is expected to last until 31st July as per announced by XXXX construction company in their website on the road maintenance. After scanning billions of sentences however, this XXXX construction company has been fined 3 times this year and 32 times from the day it started its business. I will conclude that their promise of completion of roadworks by 31st July is 97 percent likely to be inaccurate. So the jam will continue even longer…
REN: I hope you make your decision fast because the potential buyer in the morning has indicated his interest. (At the same time, opened his A.I. app and scanned the name card of the potential client into the app)
Prospective buyer’s A.I. app: At approximately 845am today, you (REN) wrote in your FB that you are angry because you woke up late and your potential buyer cancelled viewing last minute. As it is now 1030am, I will conclude that the potential buyer in the morning DID NOT VIEW and that you are lying. I have also recorded this conversation to be used as an evidence if my owner wants to take actions against you. From your FB, I have compared information and I know that your REN number is xxxxxx.
REN’s A.I. app: I have checked the background of this potential customer. Based on his position title and company name as well scanning through billions of data, his salary is unlikely to be sufficient to get his mortgage application to be approved by 12 of the local banks. However, after scanning his FB account, his wife is someone called XXXXXX and she is a famous blogger who wrote in one of her articles last year that she expects to earn RM100,000 due to the popularity of her blog.From available information online, her claims can be believed because the traffic to her blog is 100,000 views per day.
REN: Are you buying this ON YOUR OWN or with YOUR WIFE?
Prospective buyer: I am buying alone… (END OF THE DEAL! Haha)
Who’s A.I. app is better?! Enough of humour but always remember that the best RENs would rely on technology to be even more resourceful. As for how far could A.I. go, how about watching some old movies? From the potential world war in The Terminator series to A.I. vs humans in I.Robot or even that emotional yet scary at the same time movie called A.I.? Yes, in this movie, the humans become extinct but A.I.s continue to evolve… It’s may not be that far-fetched anymore yeah. Happy investing and if anyone found any awesome free A.I. apps, let me know yeah.
written on 19 June 2018
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