Unleashing the Power of Artificial Intelligence in Real Estate Valuation: Opportunities and Challenges Ahead

Ibraheem Muzahem Alsahan () and Ziyad Ibraheem AlZaidan ()

Journal of Artificial Intelligence General science (JAIGS) ISSN:3006-4023, 2024, vol. 3, issue 1, 89-96

Abstract: The convergence of real estate valuation and artificial intelligence (AI) represents a transformative frontier in the real estate industry. This paper explores the strategic importance of real estate valuation and the integration of AI technologies, shedding light on their multifaceted contributions to decision-making, value enhancement, and market insights. Through a comprehensive review of literature, theoretical frameworks, and industry insights, the study examines the potential of AI-driven valuation models, predictive analytics, and Explainable AI (XAI) techniques in revolutionizing traditional valuation practices. Key areas of future research, including data integration, ethical considerations, and the development of hybrid AI systems, are identified to advance the field and address emerging challenges. By leveraging AI technologies responsibly, stakeholders can unlock new opportunities for efficiency, accuracy, and transparency in real estate valuation, ultimately shaping a more resilient and sustainable future for the industry.

Keywords: Real estate; artificial intelligence; valuation; appraiser; Saudi Arabia (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://newjaigs.com/index.php/JAIGS/article/view/69 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:das:njaigs:v:3:y:2024:i:1:p:89-96:id:69

Access Statistics for this article

Journal of Artificial Intelligence General science (JAIGS) ISSN:3006-4023 is currently edited by Justyna Żywiołek

More articles in Journal of Artificial Intelligence General science (JAIGS) ISSN:3006-4023 from Open Knowledge
Bibliographic data for series maintained by Open Knowledge ().