The evolving and developing communication technologies are delving into all our life aspects. One of the fields in which emerging technology is changing the way we see things is the real estate realm. Among these technologies is the AR and AI. The game’s rules are changing thanks to augmented reality (AR) and artificial intelligence(AI) and their connection to real estate.
But, the question is how can augmented and virtual reality be effective in real estate? Will they be beneficial or harmful? Will we be able to see their effects soon, or shall we need to wait?
All these questions and more are answered in this article on augmented reality(AR), artificial intelligence (AI), and real estate. Also, you will get to see real-life applications for advanced technologies in real estate.
What is AR and AI?
Let us tackle the first things first. We cannot talk about the effect of augmented reality(AR), artificial intelligence (AI), and real estate without knowing what these technologies are and how they developed.
Artificial intelligence, or AI, is a wide field in which technological advances take wide, speedy steps. It implies the use of data to fully create and operate most of the tasks made by humans.
Artificial Intelligence (AI) is a very wide scope that integrates all our life fields from education, medicine, finance, and even real estate. It has many categories and applications. Which is exactly why it is integrated in all our lives.
Among these applications, we find augmented reality(AR) and virtual reality(VR). Concerning the difference between them, it is simply that AR brings you a virtual world live, while, on the other opposite, VR brings you into the virtual world.
In other words, by incorporating digital features into a live view, augmented reality (AR) enhances your surroundings. This is typically achieved by utilizing a smartphone’s camera. Virtual reality (VR) is a fully immersive technology that substitutes a simulated environment for the actual world.
Now you know the meaning of artificial intelligence, augmented reality, and virtual reality. We can proceed to our topic on augmented reality(AR), artificial intelligence (AI), and real estate.
But why are we focusing on augmented reality(AR), artificial intelligence (AI), and real estate rather than virtual reality? Simply because the applications of augmented reality (AR) are the ones mostly used and beneficial in real estate, and not virtual reality.
Artificial Intelligence (AI) & Augmented Reality(AR) in Real Estate
Now, let us talk about our main topic; augmented reality(AR), artificial intelligence (AI), and real estate. Artificial intelligence (AI) and, consequently, augmented reality (AR) – since it is a sub-category and an application of AI – have many applications and uses in the real estate field.
First and foremost, bringing homes to life, by which we mean visualizing the different homes and their specifications into 2D and 3D models. This privilege allows both the client and the real estate company to have a win-win situation.
The user gets to see his future home and its floor plan clearly, in approximate sizes and areas, while on the other hand, the real estate company gets more credibility, authority, and trustworthiness.
The 3D visualization of the property through AR is one of the most well-known, most-used and required by clients. It helps reduce time, gives better insights on the property, improves decision making, better helps remote clients better, and saves the time and money of both the real estate company and the client.
Another use of augmented reality(AR), artificial intelligence (AI), and real estate is the virtual property tours in which augmented reality is combined with virtual reality to offer the client a whole experience of viewing and exploring their future property through the virtual tours.
Also, the use of augmented reality(AR), artificial intelligence (AI), and real estate extends to enable clients to view 3D models. These models are not only for the floor plans of their future homes but also for their neighborhoods and surroundings.
Now you understand the meaning behind augmented reality(AR) and artificial intelligence (AI), and you know their importance and benefits to the real estate realm. You need to see an example of those applications, which we will give you in the following section.
Augmented Reality(AR) & Artificial Intelligence (AI) in Action
Now you understand the use of Augmented Reality(AR) & Artificial Intelligence (AI) in real estate and you need to see an example of their techniques in the real world.
There are now in the market many real estate applications where you can get availability spots, compound brochures, compound locations, interactive master plans, the most updated compound information, an easy searching and filtering process, and above all, mobile/tablet/desktop friendly.
By now, we have tackled many topics, among which are artificial intelligence(AI) and augmented reality (AR), and their effect on real estate. Also, you have seen the experience of Nawy in offering a helpful model.
Lastly, there is one more question left that we need to answer. How technology is changing the real estate industry and how the application of artificial intelligence(AI) and augmented reality (AR) will change real estate. We will get an answer to this in the following section.
The Future of Technology in Real Estate
As we have said before, artificial intelligence(AI), and augmented reality (AR) have a very wide scope with daily updates. However, according to many sources, what we can expect from artificial intelligence(AI) and augmented reality (AR) in real estate is very promising.
First of all, the presence of more “prop-tech” companies such as Nawy is expected to grow heavily. These companies utilize and rely heavily on technology in listing and offering the stock they have, carry out the buying and selling, and even invest in real estate processes.
Also, the door for entrepreneurs and investors alike is very wide open. They have chances for horizon opportunities to invest, operate, and start their business, depending on technological advancements.
Don’t forget that the application of artificial intelligence(AI) and augmented reality (AR) in real estate extends beyond all that to the concept of offering smart homes in which you can seamlessly and safely live.
Last but not least, the use and integration of big data and big data analytics will grow in parallel to the growth of the big data field itself.
We all know that big data is simply the collection of structured, unstructured, and semi-structured data that is incredibly vast and varied. It is growing exponentially over time, and its use in all life fields, especially real estate, will grow vastly.
Now, our talk about artificial intelligence (AI) and augmented reality(AR) and their uses in real estate has come to an end. It’s time we told you the next steps.
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Experience Technology in Real Estate Now!
Till this point, you know all about augmented reality(AR) and artificial intelligence(AI). You also know their application in real estate, and you are ready to take the following steps.
Don’t forget that by clicking on the form below and filling it out, you will get in touch with Nawy’s property consultants team. They are always happy and ready to help you find your new home.
By going through all the available units on Nawy’s website and mobile application, we are sure that you will find your new home.
Don’t forget that you can choose your unit, move immediately, and pay later. All with flexible payment plans when you use the Nawy Now service.
Also, the Nawy Shares service is available if you want to invest your money in a real estate property.
We hope you find your new home easily.
