What is AI and why does it matter?

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What is AI and why does it matter? Well, the world is changing and it’s changing fast. AI stands for Artificial Intelligence and it’s been around for a while now but with the advent of ChatGPT (an interactive natural language chatbot initially fed with available internet data up to 2021 and now 2023) it’s become mainstream as it’s now super accessible to everyone.

What does AI mean for estate agents?

The applications of this technology are endless and there are ethical implications also. But what does this mean for estate agents?

Well, you’ll have probably heard of agents already making use of this technology and benefiting greatly from it. But before you start planning on reducing staffing levels and hyper increasing efficiency within the business, do think carefully about the implications of your decisions.

Why is context crucial in AI development?

Computers have been traditionally great at dealing with numbers at high speed, with AI they have become great at interpreting information and being able to understand human language and most importantly context. For instance if I was to ask a number of questions about golf and then ask about how many holes are on an average course without explicitly saying ‘golf course’, a modern chatbot will understand that based on the history of the conversation (the context) and answer how many holes there are on a golf course, instead of saying it simply doesn’t understand the question. 

It’s this ‘context’ that is key to a normal human conversation and makes it feel normal, speaking out of context is generally surprising and can be jarring. 

History of conversations

Understanding the history of the conversation is the real power of ChatGPT because it enables us to train AI and for it to remember and provide answers based on this training. 

So, we can train chatbots on large data sets so that they can answer questions and provide information and insights on this data, but how can we apply this to estate agency?

How can Aimee, our SignatureAI chatbot, help estate agents?

AI can be applied to almost any aspect of your business where interaction or data is involved. For instance, at PropertyStream we’ve been working on our SignatureAI product - Aimee, a multi-functional natural language chatbot that will sit on an estate agency website. Aimee is capable of performing property searches based on a series of questions, provide instant valuations, taking contact details in the process, booking appointments and qualifying users so that additional services can be offered to them.

Aimee can help estate agents to stay ahead of the game and harness the power of artificial intelligence to elevate online customer experience by giving their website visitors additional ways to connect, engage and attain information. This is just the start and we’ll be developing more AI products in the future. 

If you’re interested in AI and how it can help your business, please feel free to get in touch with our Digital Director Eddy Bennett on 0333 242 0647 or via enquiries@propertystream.co

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