There is a lot to be said about the hype, ChatGPT, and the impact it has made on the long running conversation of AI. ChatGPT just happened to be the trigger to bring AI into everyone’s lives — adding fuel to the fire on the development of AI in conversational tools, data, and automation.

Well, with the rise of AI seemingly coming to a business-unit near you, the apps, dashboards, chatbots, etc.. that you leverage to enhance your operations and businesses — how does all of this communicate and connect?

AI/ML Models Accessible Through APIs

With the rise of OpenAI — the company that built ChatGPT, there was an almost immediate request to access and leverage these machine learning and artificial intelligence technology into other products, apps, you name it! I am sure, the daily email OpenAI received was “Do you have an API I can access?”.

Luckily, OpenAI does provide API access to most of their models that are pre-trained for specific use-cases like ChatGPT. Enabling businesses to integrate and solve specific business use cases through these pre-built models and AI.

What is a Model?

Just think of a model as a single determining factor on providing a score of “how similar” something is when comparing against a set of information the model was trained off of. In other words, it is a representation of how “similar” information is to a specific set of information. For example, data scientist would train models to tell them if an image is a house or if an image is a car. You would feed that model an image and the model would tell you with a confidence score of 0–1. 1 being a perfect match.

How does this apply to AI?

I like to think of AI as a combination of Models that have been created to focus on specific parts. So you can think of a brain. Models are trained to represent parts of the brain such as recognizing text vs images. AI is the combination of these trained models that connect everything together providing a closer aspect of artificial intelligence that can make decisions.

Why are APIs Important?

Well, you had OpenAI put all this hard work to create powerful models and artificial intelligence that problem solve information for you and you can save hundreds of thousands of dollars and months of go-to-market by simply using an API to connect a solution of yours to these trained models.

For example, a common thing we see if MLS organizations leveraging ML and AI to look for similarities in datasets on images within their feeds to reduce duplications. In this example, you could skip the competition to create this solution you want by simply integrating an API into your solution and set it for your specific use-case. Saving hours, weeks, months, and thousands of dollars.

Wrap-Up & Use-Cases

The possibilities in enriching data through ML and AI is ever so present and ChatGPT really forced the conversation on everyone in the world to have. In reality, this has been going on for many decades and we are now just seeing how this can impact daily life.

APIs will forever be the key to making data more accessible and enriched for the people building meaningful solutions in real-estate. Here are some ideas and thoughts I’ve had that I’d love to see product being built (some we are even doing) by leveraging OpenAI.

  • Tenant communication. Managing tenants and their inquires is a major time consumer for property managers. Seeing more human-like interaction to help tenants problem solve or access information through a “human-like” property manager would play a helpful role for PMs to focus on their more urgent priorities.
  • Analyzing investment data. Forecasting and predictions will only get better from here on out. Because what data scientist can tell you about your financial data vs what AI can tell you in seconds will blow you away. Less mistakes and comparisons to information you would of never thought about. This does not mean data scientist aren’t important — someone has to train AI and ML.

There is plenty more to be said here but it gets me excited and ready to build more solutions every day for Real Estate when you think about what you can do for this industry, faster, through AI & ML.

Comment some of your thoughts on how AI/ML might impact Real Estate through API solutions.

About the Author

David Biga — CEO & Founder of Particle Space

David Biga is the CEO & Founder of Particle Space. A previous tech-founder of numerous startups, David turned his attention and passion for the Real Estate industry by first creating a solution around the Property Management industry. Through that experience, David saw a major need in bridging the gap between data and people for Real Estate.

At Particle Space, we make it easy for real estate businesses to connect and access their real estate data in one platform. We do this by providing our customers’ with a suite of business tools and APIs.

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