Business Proposal Presentation
Transcript: AI Integration into the Zillow App Overview Today we will discuss Integration of AI into the Zillow app with the potential benefits it could provide for users and the company itself and the potential challenges that need to be addressed in order for a successful implementation of AI. Benifits of AI Integration in the Zillow App Benefits Enchanced User Experience - Personalized property recommendations based on user preferences and behavior patters - Alerts for property listings that match users criteria Streamlined Property Search - Advanced search capabilites including intelligent filters to allow users to refine property searches based on location, price range, and property features and provide the most relevant and desirable properties Accurate Property Valuations - AI powered algorithims that use large datasets and market trends to provide precise property valuations - Updates on property values based on market fluctuations Predictive Analytics and Market Insights - Data-driven insights on market trends, investment opportunites, and property demand - Provide models that forecast market dynamics and property prices Successful Implementation of AI has already happened in real estate to provide accurate forecasts. Startups like Skyline AI have used the AI to build large datasets which are based on rent, vacancy, and capitalisation rates Potential Challenges Challenges Safeguarding User data - Preventing data breaches Algorithmic Bias - Addressing potential biases in the AI algorithms that may lead to unfair treatment, while insuring transparency and accountability in algorithmic decision-making Transparency - Provide explanations for AI recommendations or decisions, and providing an explanation on how algorithms work and what factors influence their outputs User Acceptance and Adoption - User resistance to AI Powered features will exist, Encouraging User trust will be crucial while also insuring a seamless experience with the AI that does not confuse or overwhelm users Implementation Complexity - Integrating AI into and existing system or infrastructure can be very complex and would likely require a phased approach to minimize disruptions. In my research, multiple articles listed one of the main issues of AI being that is lack the ability to understand human behavior which is crucial in the real estate industry in which personal preferences and sentimental value play a huge role in decision making Mitigation Strategies Mitigation Data Privacy and Security - Implement data securtiy measures that include encryption and regular securty audits to help ensure user information is safe and comply with data privacy regulations Algorithmic Bias - Conduct bias testing and audits on the AI models to identify potential biases. - Monitor the algorithmic outputs for fairness and accuracy Transparency - Provide explainable AI models that provide an insight into the decision making process of the AI, while also using different techniques such as interpretable machine learning models User Acceptance and Adoption - Implement user centered designs while also creating user friendly AI feautures - Provide an explanation as to how an AI could enhance user experience and provide the user with more value Implementation - Identify the integration challenges and then hire an AI consultant to guide the implementation process which would likely include a phase type of implementation to allow for a more seamless transition into the AI and reduce disruptions Next Steps By integrating AI technology into the Zillow App, the company can enhance the experience of its users, improve its property valuations, and provide predictive analytics. This would ultimately result in Zillow becoming a leading innovator in its market and transform the real estate industry. AI has the potential to revolutionize the real estate industry but there is quite a few problems that need to be addressed beforehand, such as prioritizing data privacy and security. The cost of such an implementation is also a challenge as it would require upgrades to the infrastructure, training for employees, and resource allocation to allow for the AI to be monitored and address potential issues that may arise The integration would allow Zillow to maintain a competitive position in its market and would also allow the company to leverage its benefits against its competitors Conclusion and Future Directions References Hao, Karen. “Ai Still Doesn’t Have the Common Sense to Understand Human Language.” MIT Technology Review, 2 Apr. 2020, www.technologyreview.com/2020/01/31/304844/ai-common-sense-reads-human-language-ai2/. Treleaven, Philip, et al. “Real Estate Data Marketplace - AI and Ethics.” SpringerLink, 20 Apr. 2021, link.springer.com/article/10.1007/s43681-021-00053-4. “5 Use Cases of Artificial Intelligence (AI) in Real Estate Industry.” Integrio Systems, integrio.net/blog/5-use-cases-of-artificial-intelligence. Accessed 5 June 2023. Citations
Prezi Present
Prezi Video
Prezi Design
