Portal de Murcia
www.portaldemurcia.com
The University of Murcia, through the departments of Mathematics and Information and Communications Engineering, and the company Arco Valoraciones have collaborated in the development of an automated valuation model of real estate based on artificial intelligence.
The team of the UMU, led by Professor Javier G. Marín-Blázquez, expert in artificial intelligence, has advised the team of technicians of the company, coordinated by Antonio Segura, in the application of this modern technology for the development of a product own created by this Murcian company.
The application of artificial intelligence allows the model to study the behavior of large amounts of historical data and find patterns of behavior in them, from which to learn to make predictions about the value of real estate.
These models based on artificial intelligence are especially useful when you need to value a large amount of real estate, or when you need to do it in a short time.
They are also interesting when the possibility of carrying out the appraisal by a human is limited, both for reasons of physical accessibility of the property and the availability of expert human appraisers.
Finally, they are of enormous value as a second opinion system, since they can serve as a check on the human appraiser and warn of possible errors.
The use of Automated Valuation Models (AVM) for real estate valuation processes has increased in many European countries and has contributed to improving these processes, making them more transparent and independent, which improves the efficiency and functioning of the market.
Source: Universidad de Murcia
Privacy policy
- Legal notice
- Cookies