Special track detais

Knowledge and Innovation for Achieving Better Practices in Applying Artificial Intelligence to the Real Estate Sector

Research Area: Knowledge and Artificial Intelligence
Reference No. of the Track: 31

Description

Nowadays, the real estate sector has become one of the most vital components of the global economy, representing around two-thirds of the world’s wealth. This fact causes any change in the real estate market to have a significant impact on the economy in general and on housing availability in particular. Individuals, families, and small businesses wish to receive their annual incomes without high inflationary pressures and thereby suit them to the housing market thus affecting minimally basic needs. Given the fact that economic issues affecting the real estate market have recently attracted attention from academia, the promotion of research contributions may provide further knowledge on technological trends and engineering innovations. Consequently, from a socioeconomic point of view, it is interesting to see how disruptive technological aspects can enhance the real estate market for a sustainable economy as follows.
The first factor is that may transform the business world by using artificial intelligence, whose cross-cutting scope is set to have an impact on many areas of human activity. The economic weight of the real estate sector, together with the transforming importance of Artificial Intelligence (AI), is of interest for the deepening of the different areas of application of IT in the markets. Particularly relevant are the aspects related to market optimization, as well as its impact on improving the sustainability of the real estate sector and its impact on improving market efficiency.
As a second factor, the identification of urban aspects where the implementation of techniques based mainly on AI may improve habitability for people without resources, thus analyzing the evolution of economic processes, such as the gentrification of cities, the substitution of ownership models to asset leasing models, living either in senior, flexible, or sharing spaces.
A third category of analysis is the increasing role of finance in the sector, highlighting models such as reverse mortgages and bare ownership, with changes in the profile of investors, from individuals, and family offices, to Real Estate Investment Trust (REIT).
The fourth level corresponds to the relationship of artificial intelligence with technological aspects such as the different levels of digitization of the sector, ranging from document management to the automation of construction or maintenance processes through the role of user experience in their relationship with real estate.
Finally, it highlights the role of the public sector as a generator of the real estate market by regulating and enabling different land uses to aspects of public-private collaboration in which solutions based on private sector criteria are provided to the objectives of the public sector.
With this call for tracks, we aim at contributing, but not limited, to the following topics:

  • Examining the AI-related tools for the development of augmented reality technologies applied to the housing sector.
  • Innovative business models in the real estate sector.
  • Transformative business models in enhancing online business in the real estate sector.
  • Continuous improvement models for the real estate sector based on AI techniques.
  • Improvement of business processes for the housing and real estate sector.
  • Environmental and social sustainability in the real sector.
  • AI-related methodologies for better dissemination of business knowledge from the real estate sector.
Keywords
Artificial intelligence, Real Estate, Asset Management, Urban Environment, Sustainability, Affordable housing

Organizers

Antonio Martínez Raya, Universidad Politécnica de Madrid, Spain
Alejandro Segura de la Cal, Universidad Politécnica de Madrid, Spain
Gustavo Morales Alonso, Universidad Politécnica de Madrid, Spain