Blockchain and AI to be mainstay in Realty, disrupt market

One of the biggest challenges of IT teams is the difficulty to interpret and respond to incidents quickly. The challenges include how, or which team or analyst should respond, understanding the relationship between incidents, ensuring consistency in response, and gaining feedback to improve the security posture for the future. AI, with its incredible ability, can resolve every challenge in incident response through a more predictable and effective approach. AI can contain the attack spread through faster and accurate detection, retrieve affected assets, and improve security posture.

Automated remediation is another feature that uses ML for incident response. AI solutions also use application programming interfaces to automate response and remediation through playbooks. A report by Grant Thornton Bharat says, Technologies such as blockchain and artificial intelligence are becoming boardroom discussion topics as the next few years are going to see a lot of digital-led transformations.

The research points out that the pandemic and the growing tech space has accelerated the adoption of new and emerging technologies such as augmented reality, virtual reality, chatbots, big data, marketing automation, IoT, among others. Real estate companies are increasingly using new-age digital technologies in every aspect of searching, buying, selling, and home financing.

According to experts, customer queries right from selecting the right property to after sales queries and arranging virtual visits have been completely redefined. "With Blockchain in the real estate lifecycle, we can cut the middlemen from the transaction process, reducing the overall fee. Ever since listings became available online, home buyers have been able to search for homes by selecting attributes like location, price, square footage, number of bedrooms, and images of the property, but still don’t finalise the property.

Machine learning has made this process simpler by analysing a person’s search patterns and creating a more tailored listing of what they really want. By combining customer relationship management and marketplace data, AI technology can also help agents and brokers better predict the future. Machine learning has made this process simpler by analysing a person's search patterns and creating a more tailored listing of what they really want.

AI is also used in various steps of the mortgage process, from finding the perfect loan type for a borrower to finding the right investor for the loan. Also building financial models for clients and showing them how much money they are losing on a monthly and yearly basis, and then showing them how they could potentially fix that issue and save money by investing in a potential property.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA