Smart Homes, Blockchain and AI: How Tech Will Change Property in 2018

 

Property Investment:  Smart homes, blockchain and AI: How tech will change property in 2018

This year voice technology like that in the Google Home could revolutionise the property industry.

Last year was a strong year for digital change with the arrival of Amazon, the launch of the Google Cloud Platform in Australia, Google Home and Amazon’s Alexa expanded and bitcoin went from $1000 to $22,000, with property owners willing to sell for the cryptocurrency.

In the property space, we saw enormous growth of fractional property investment platforms, a strong increase in digital mortgage originations, tie ups between property listing portals and mortgage providers, and the launch of a host of property-based augmented reality apps utilising Apple’s ARKit.

So will we see more this year?

With massive public cloud providers such as Google, Amazon and Microsoft racing to commoditise machine learning and facilitating rapid digital innovation, what we do know is the pace of innovation will only increase.

Property Investment:  Smart homes, blockchain and AI: How tech will change property in 2018

When your refrigerator is part of a denial of service attack on the Pentagon and you need to worry about installing anti-virus while refilling the ice tray, you know the future has arrived. Bloomberg

My prediction is that 2018 will be the year of voice.

We will see intelligent applications proliferate on top of the Amazon Alexa and Google Home devices – allowing customers to search for and select services using their voice.

Sharing economy

What this means for the property and mortgage industries is a proliferation of voice apps that guide buyers through mortgage applications, setting up appointments with professionals. There could be tenant service requests for maintenance being managed through a chat interface.

There could be home price estimates and area research via voice apps, and even 24-hour open homes allowing inspections at any time with access and information voice and biometric driven.

In 2018 we will also see more happening in the sharing economy too.

General purpose two-sided marketplaces are emerging, some powered by blockchain.  These will allow people to share more and buy less.

From renting your neighbours’ lawn mower, to sharing energy generation locally and reducing reliance on the grid, to sharing in the purchase and rental of properties with fractional investment schemes.

Expect fractional platforms such as DomaCom, CoVesta and BrickX to become more mainstream, and for more peer-to-peer funded mortgage and loan providers to emerge.

And without a doubt we will see and hear more about artificial intelligence (AI).

Yes, there will be articles about AI ending our world with Skynet powered Terminators, but this “general intelligence” level of AI is not going to arrive next year.

The future has arrived

Rather there will be more intelligent services, homes and devices.

In the security space there will be more hacks and data breaches.  We may see intelligent homes and devices being compromised, with our Intelligent Things sometimes becoming part of a malicious botnet.

When your refrigerator is part of a denial of service attack on the Pentagon and you need to worry about installing anti-virus while refilling the ice tray, you know the future has arrived.

By this time next year I might be dictating the next set of predictions to my Google assistant, while commuting in a ride sharing self-driving Tesla model 3 that was charged by solar roof tiles.

Whether this happens by 2018 or 2020, one thing is certain: change is accelerating – 2017 was the slowest innovation year for the rest of our lives.

Greg Dickason is executive general manager technology for property data company CoreLogic

SOURCE: The Australian Financial Review
POSTED: January 3, 2018
AUTHOR: Greg Dickason

@Luxury Estates – experts on visionary marketing of Australia’s most luxurious real estate for sale

Australian Luxury Estate News
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Smart Homes, Blockchain and AI: How Tech Will Change Property in 2018