Ryan Mahoney (Dubai, UAE) is the owner and CEO of CenCorp, a conglomerate of property-related businesses. This article will look at the increased adoption of AI throughout the real estate sector, exploring the benefits for homebuyers, sellers, and real estate brokers.

Artificial intelligence is disrupting virtually every industry today, and the real estate sector is no exception. Some are even questioning the viability of AI replacing real estate agents completely – but is that really a possibility?

The real estate sector is uniquely positioned with it comes to this question, largely due to the wide variety of innovative technologies that are already changing the landscape of the industry. The attached PDF takes a closer look at a selection of game-changing technologies being deployed throughout the sector in 2023.

If ChatGPT has proven anything, it is that AI is far more capable than most people ever imagined. In virtually every industry today, players are scrambling to try to predict precisely which jobs AI has the capacity to take over.

In the real estate market, many experts contend that proptech and AI appear poised to take over from real estate agents one day. Nevertheless, others remain less than convinced, pointing out that buying a home is a huge decision and many buyers will continue to show a preference for human interaction and personalized service. The attached infographic provides some interesting statistics about the global real estate market in 2023.

Looking to the travel industry, it is easy to see that the impact of technological advancements has been huge, forcing many travel agents to completely reimagine the way they do business. Nevertheless, in spite of the proliferation of smartphones and online travel booking sites and apps, travel agents are still thriving and providing important services to business and leisure travelers alike. Many travel agents have repositioned themselves as travel specialists serving niche populations, such as senior travelers, LGBTQ+ travelers, travelers with disabilities, or women travelling alone, while others focused on a particular destination or mode of travel, such as cruise lines or all-inclusive resorts.

Although technological innovations are undeniably having a transformative impact on the real estate sector, many industry insiders suggest that rather than replacing real estate agents and brokers it should be leveraged by them. This would enhance the services they offer, providing a plethora of online tools and all-digital capabilities to take the hassle out of marketing or buying a new property, enabling them to deliver an unprecedented level of speed and efficiency. The attached video takes a closer look at some of the benefits of AI from a homebuyer’s perspective.