As most of my readers are aware, artificial intelligence (AI) has been making headlines and progress in a variety of industries in 2022 and now in 2023. With venture capitalists investing over $49 billion in AI, there is still significant room for growth in real estate tech or proptech. By creating more efficient and personalized experiences, AI will revolutionize the way proptech operates, from search and listings to mortgages and construction. AI-powered chatbots that can provide personalized consultations will disrupt traditional real estate brokerages. The mortgage market in the United States at more than $13 trillion will benefit from AI's ability to create infinite customer personas for more robust search and underwriting. AI will also improve the customer journey from policy administration to claims management by automating the insurance layer for renters and homeowners. The incorporation of artificial intelligence in real estate technology represents a significant opportunity for entrepreneurs and innovation and massive disruption for the traditional marketplace.
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