November 19 2023
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate.
Microsoft-backed OpenAI, the creators of ChatGPT, during its first in-person developer event, launched a more powerful AI model dubbed GPT-4 Turbo, currently in Beta, among other advances.
What will these AI improvements do?
Why is it important?
We are already seeing the impact of computer vision on real estate as nearly the entire MLS platform is integrating with industry leader Restb.ai.
If you haven't seen the Restb.ai video showing how an ADA and Fair Housing-compliant entire property listing can be completely generated immediately after the agent uploads the property photos into their MLS, click here. You will see in real-time a concrete example of how computer vision will make life as an agent easier and more productive.
But this is only the beginning of extracting data and intelligence from images. The new GPT-4 Turbo with Vision demonstrations shows how incredible its AI is in instantly identifying individual items inside a photo and explaining what they are. Check out this video on X from Robert Lukoshko to see what we mean.
Creating your own GPT is a breakthrough previously reserved for enterprise clients and developers. Open AI now claims, "Creating one is as easy as starting a conversation, giving it instructions and extra knowledge, and picking what it can do, like searching the web, making images or analyzing data."
In terms of AI-powered multi-lingual tools, these might empower more potential non-English speaking home buyers to become more educated and knowledgeable about the real estate market and the benefits of homeownership. These new tools could also enhance agents' communications and outreach capabilities.
The biggest takeaway is the OpenAI announcement showing the direction AI is going (and we've been forecasting): better TTS. Having to type in prompts in an AI world makes absolutely no sense. We can talk to Siri, Google Nest, and Alexa, but we need to speak to ChatGPT.
Finally, CNBC noted that OpenAI offered its own guardrails for AI, saying it will step in and defend customers and "pay the costs incurred if you face legal claims around copyright infringement," echoing what Google, Microsoft, and Adobe have said.
Survey of 216 college professors from 67 of the top 100 US computer science programs:
Source: Axios, Nov. 8, 2023, with Generation Labs and Syracuse University.
1. YouTube creators will soon have to disclose the use of gen AI in videos or risk suspension | Associated Press - 11/14/23
YouTube's updated policy will allow the removal of AI-generated video that simulates a person's voice.
2. 5 Steps Your Business Needs to Take to Build a Responsible AI Program | Inc. - 11/14/23
Maximizing the use of AI is essential, but so is taking precautions for any AI pitfalls.
3. How the Real Estate Industry Can Effectively Leverage AI | Urban Land Magazine - 11/13/23
Maurice Conti pines on the impact of generative AI in real estate development. (Requires ULI Guest Account signup.)
4. LinkedIn Introduces New AI-powered Premium Experience | Inman - 11/1/23
Are you looking for a reason to pay LinkedIn? Premium users now get access to an AI job coach to assist with job hunting, including answering questions about a company's hiring process and helping determine if they'd be a good fit.
5. How to Use ChatGPT to Plan Your Winter Travel | Kimpton Hotels - 10/8/23
Yes, this is a self-interested post, but it offers solid ideas on how to use ChatGPT as a travel planner assistant.
To view the original article, visit the WAV Group blog.