How is #AI transforming the real estate industry

The technologies have been emerging day on day basis and, with every growing day they are becoming stronger. Be it a small or a medium enterprise or a big established brand or for that matter a start-up as well, AI has been reaching new heights of success, already.

Whether its retail, aviation, pharma & healthcare, hospitality etc – AI is for all and vice versa. But the most important thing here is delivering a good customer experience, as we all know customer has always been the king and, hence offering a service is important to ensure that one’s customers get the best experience.

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With mostly all the sectors welcoming the technology and, paving new ways to digital transformation, this sector too has started adopting the changes as much as possible. Be it the property buyers, stake holders, owners, dealers / brokers, realtors from upcoming ones to reputed ones, al are looking forward for integrating AI into their existing infrastructure.

Commercial, as well as residential buildings, are becoming smarter with each passing day. To be precise, the real estate sector is transforming and taking giant strides towards development.

Let’s look quickly as to what AI can do

With the use of AI, one can completely get a digital transformation done. AI will help one leverage, by collecting info and turn them into rich real time info / data. Looking at what AI can actually be a boon in the real estate sector as following:

AI powered tools have the power to identify the external characteristics of a building. One can actually use AI to its fullest by getting real time stats of electricity consumption and, also identify temperature levels and energy consumption amounts, thus optimizing smart energy utilization to fullest.

Timely detection leads to effective and preventive disaster management in case of any faulty systems being operational or raw materials being used.

With the help of data analysis, interactive chat bots, and machine learning, property builders, developers, and buyers have loads of surprises in store.

1. Interactive bots

Bots when used for real estate sector can help in achieving a holistic 360* view of the entire architecture. Some of the leading real-estate companies have interactive and communicational bots who can help give a 360-degree view of a particular property. Potential clients can have human interaction with these bots, ask questions, and streamline their search according to the suggestions.

2. Effective data analysis

With Ai enabled bots on the go, the company will record the right amount of information about a building along with the scope for improvement. This in turn shall prove to be an excellent move in reducing tenant costs and ensuring optimal comfort for them.

3. Optimum security

Proper secured living is the key to a happy life. Every individual wants to stay secured & protected in their home and the security aspect of a building often proves to be a parameter for its sale-ability. With AI-enabled security systems, automated voice and facial recognition become quite easier.

4. Making recommendations

Whenever a new property buyer or a visitor would visit your site, you will have to provide the right information or suggestions that are useful to him. With AI-powered site management systems, you can identify the information that is useful to them and make valuable recommendations.

AI can influence purchase decisions and help a real estate establishment earn huge ROIs.

Chatbots – Trend setters for tech

With the technology changing around and leading to a complete transformation, AI has been the major forte of all. With the rapid advancements in the field of AI, it has now become much easier for the people at large to understand and embrace the same.

Well, coming to bots – we all refer them as a “chatter box”, or as automated bots which converse intelligently (yeah, referring to the technical intelligence which is AI) with the users responding to any query. Yeah, thinking whether bots have been too difficult to understand, well yeah ideally, they haven’t been that difficult yet, but yeah the easiest stuff is to get one’s queries answered. Any query, anywhere, anytime – and pat comes the reply!

In today’s context, these are one of the most helpful tech around us. The use of AI powered bots today, has led to many new intelligent & smart ways of working. With bots around the corner, one can just not only be amazed, but also see what a marvelous job one is doing.

Time to say a big hello to Siri, Google Assistant, Cortana, Alexa, to name a few!! Knowing that these have paved ways for newer variations of bots to come, the technology sure has a lot to offer more than what can be seen.

“Chatbots and AI have become household names and enterprises are taking notice. According to a recent Forrester survey, roughly “85% of customer interactions within an enterprise will be with software robots in five years’ time” and “87% of CEOs are looking to expand their AI workforce” using AI bots.

In an effort to drive increased labor efficiencies, reduce costs, and deliver better customer/employee experiences enterprises are quickly introducing AI, machine learning, and natural language understanding as core elements of their digital transformation strategy in 2018”

AI – Revolutionizing the world digitally….

With the technology evolving round and changing the entire scenario it has now become easy for masses to embrace IT like never before. Well to say what’s the best tech has to offer is no longer a mystery, but a pandora’s box – you never know what’s in store next and, also becomes a tad difficult for common people to comprehend. In spite of knowing the limitations, one has to be adaptable & flexible enough to move a higher notch above the rest to like & understand the technology. Talking of this we have seen the rise of the tech from introducing the most basics tech to the most complex ones and, still soaring high knowing where it will land.

Referring to the most simple to complex tech that we know these days is the birth of chatbots thanks to Artificial Intelligence. Yeah, thinking whether bots have been too difficult to understand, well yeah ideally, they haven’t been that difficult yet, but yeah the easiest stuff is to get one’s queries answered. Any query, anywhere , anytime – and pat comes the reply!

In today’s context, chatbots are fun to be with and can help the customers achieve what they want. Today, Use of chatbots are seen as easy and fun ways to help customers achieve an outcome. You’ll encounter them on web sites, social media and even on your smartphone. Say hello to Siri, Allo and Alexa, to name a few!! Referring to various insights, as we all know, bots can be used anywhere – either internally in the organization as well as being used as a:

HR Bot

Help Desk Bot

Feedback bot

Employee life cycle bot

Recruitment bot

Appointment bot

Sales bot to name a few…

The most important bot that has been gaining momentum and, is steadily on the rise is the Feedback Bot / Customer Service Bot. In most instances generally, users either mail or call the customer care team with certain queries pertaining to some features of the site, placing an order or asking for their status updates. Looking at the time spent here and there, and then waiting for it becomes a nuisance after some time, leading to chaos.

How Chatbots can enhance the customer service / feedback process

Just imagine what if you had the entire info at one go. With the help of a Chat bot to talk to your customers, which has all the basic FAQs and any additional information that might be needed into your chatbots. So when the customer keys in the query, it answers the customer much similar fashion as a customer service personnel would have responded. This makes the work easy for the customer and saves the time and effort of your customer care team. The rise of chatbots has improved the entire communication channel between businesses and brands. While customers leverage self-help, businesses can build stronger relationships and increase sales.

Quick customer response

At times, there are several customers, who try and connect at the same time. So, it becomes all the more necessary to have a big team to handle the queries. If you have a chatbot interface, then instead of waiting for a long time in the queue, the customer’s questions can be answered immediately. Whenever there is a real need to redirect someone to a customer service personnel, the chatbot could then relay the conversation or handle the situation if it calls for a straightforward solution.

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Collect and analyze customer information

Chatbots can quickly gather the info and then process all required customer related information.
The collected user information as well as the purchase history could immediately be linked and analysed to interact with the customer and suggest suitable recommendations. This can channelize the sales & get the business going.

Being available 24/7 for customers

Every business gives equal importance to the customers, by being continuous available. But, with chatbots on the go, you can be rest assured about a 24/7 service and that too handling on a mass scale.

Tea & Tech Session – on AI & ML

It’s always good to take initiatives for any organization to grow. Not only to witness growth, but also rise & be abreast of the prevailing current tech trends. Keeping the same belief, Mobinius was glad to host the 1st ever Tech MeetUp, in association with Nasscom on 16th Feb, at our office. The discussion was focused on – “What a tech CEO needs to know about AI & ML being the most sorted dominant technologies.” It was in sync with the current technology fever of AI & ML gripping the entire IT industry by its flow!

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This meet up saw the presence of CEO’s from various organizations, well versed with the Artificial Intelligence & Machine Learning technology. The session started with a brief introduction of the distinguished members, post which the session began by a presentation on – Distinguishing AI & ML – simplifying the tech by Mr Harsha Jagadish, Tech Lead, Mobinius. He spoke about in length on what exactly is Artificial Intelligence and how is it different from Machine Learning. Also, he shed some light on what is ML and how can it be implemented by organizations at large, how it can be effectively used in various industries and verticals, along with citing the benefits of using the same. The session then continued with some discussion on this topic, with most of the speakers coming in cohesion and understanding that what they felt was AI, is actually ML!

Seriously, it was indeed an eye opening session for most of the people as the debate was still on whether has Machine Learning already made an impact or has it reached the stage for already being much higher and advanced than human intelligence! A fact that we all know and vouch for is that in the era of Elon Musk & Stephen Hawking debating about how AI / ML will become a threat for mankind at large, has already sparked the debate which continued in the session. Taking the same ahead, we also spoke on how ML can be a sigh of relief, when it comes to working on huge mammoth data and doing the needful.
Mr Abhijit Kumar Choudhary, CEO, Azureiken Technologies – shared information on what AI is and how companies are monetizing from these technology, AI being the catalyst to be a technology changer and what it has to offer to the tech industry etc..

Post this, the session had demo on respective chatbots – one presented by Mr Abhijit & obviously on CAWI™ – Conversations Automated With Intelligence. Both bots equally shared the limelight and also feedback on the same, covered the remaining part of the forum. Members from Nasscom, SEM Council and other members were equally satisfied with the discussion and also decided to continue with another session on this, since the time was a constraint.

In a nutshell, the entire tech meet was a fruitful one and also we look forward for creating more value driven synergies in the near future!

CAWI™ shines at IndiaSoft

Yes, it was indeed a very exciting moment for all of us here at Mobinius™, as we participated in the India Soft Expo, conducted by IndiaSoft, on 24th & 25th Jan, which witnessed huge participation from 75+countries, 100+ Categories and 400+ delegates across the globe. It was indeed an event which witnessed the mammoth crowd and the exhibitors, participants & also delegates interacting with the various organizations present. It was a huge business networking event, which was very important for the global buyers, to have a fruitful association with the IT companies as present there.

Apart from various stalls, representing the various technologies, we are all proud @Mobinius™, to proudly showcase our portfolio of CAWI™ – Conversation Automated With Intelligence. Our team was amazed to display the demo and case studies, apart from explaining what a bot is, how it works, and what are the benefits of having an AI enabled technology driving the Digital Transformation – across industries & domains at large!

One of the most important question arises here is – What exactly is a bot? And secondly, why is CAWI™ – as a bot framework so very important? What does it do? How does it help you to be a part of the entire digital transformation? Well this is what we have to offer:

In the era of AI as we all know, technology has been transforming rapidly. It’s the era of bots as we say – automated conversations which not only helps you ease your time, but also ensure that the help is always around the corner 24*7*365, making one’s lives more simpler. CAWI™, helps you with all that and more!
CAWI shines at IndiaSoft

CAWI™, as we all know is all about “Simplifying conversations between men & machines.”

CAWI™ – Conversation Automated with Intelligence” is our end-to-end Bot Builder framework. The CAWI™ Bots Platform has every single component – needed to build, train, deploy, & manage AI-rich, chatbots for users to engage in all communication channels. Robust yet flexible, it can be deployed on-premise or in the cloud, designed to with stand the most complex business and IT requirements, without requiring changes to existing systems, policies, or procedures. It is simple and effective, to get the entire info needed just in some seconds!

Be it the travel industry using this bot framework for the latest travel itinerary of a guest, booking the cab or be it the health and the pharma industry using the same for tracking the medical inventory list or the patient’s health status – CAWI™ can be used anywhere & anytime! Taking the same ahead, we at Mobinius™ have always been in the forefront delivering the immense possibilities of delivering AI enabled IT solutions its best!

Vowwww….was the reaction for all who glanced at the CAWI™ banner and also were present for the knowledge sharing info on the bot framework! The audience was literally going crazy & gung-ho on understanding the bot framework and also its uses and the way it answers queries. One of the most funny, yet amazing incident which we can remember is – 2 kids coming to our stall and asking what can CAWI™ do for them?? Sounds different, doesn’t it??? Yes, kids did understand that it can help them for scheduling their homework tables, helping them with the time table queries, gaining some info on when ABC subject and its exam etc!

In fact our bot did gain attention, as it caught everyone’s eyes making everyone feel astonished about even children being curious about the bot framework CAWI™. Also to our surprise, the number of queries we received for bot was just so surprising!!

All in a nutshell, the event was just amazing to attend and CAWI™ being promoted well! Looking forward for more such events!