Stay ahead of the game with the Intelligent Document Process Automation
AI has tremendous transformative ability. AI lets companies simplify processes and increase efficiency. Apart from the rapid implementation of AI, there is also the complexity of the real estate industry that requires human element involvement. Therefore, AI is more likely to work with agents instead of replacing human real estate agents with artificial intelligence algorithms, helping them make data-based decisions.
Property purchase is a complex, emotion-dependent process, relying heavily on a human overseer to direct a sale tactfully. Closing a sale at the right time requires considerable expertise and observational skills. AI-powered applications will support agents in various activities. A real estate agent can independently determine some of the property attributes, but AI-infused real estate algorithms can measure various aspects of a property more quickly and accurately.
The best way to secure a deal is to provide customers with the property that is right for them. Understanding the clients will still need professional salespeople who can speak to them, understand their pain points, and figure out exactly what they are looking for. They will also need to convert what they learn to data that an algorithm can understand.
Apparently, the technology is now so strong that AI will determine when people will likely default on their loan or miss a credit check. And this, of course, helps reduce shortages and even encourages property companies to be more competitive. In the field of property management, AI can even be used to track critical indicators and to determine when repairs or errors can occur. Specific geographical locations and long-term patterns in crime rates, property prices and more can even be tracked.
Botminds AI does the first pass lease abstraction and the lease summary can be exported once verified by subject matter experts.
Botminds AI monitors millions of new or updated real estate listings with intelligent crawling and get the listing details as a custom-built feed.
On an average 40000 leases is the document processing scale challenge of one of our large telecom customers faced. They needed to extract key information from these lease documents created by two separate hosting companies.
With only 20 days available, they faced an enormous challenge of abstracting information from leases in different formats, layouts and different legal languages.
The traditional solution of outsourcing these documents to an army of lease abstractors is both cost and time intensive, with accuracy levels not guaranteed.
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