Realty+ Masterclass presents ‘Tech Talk’ – a series on Real Estate Tech transformations held virtually on May 13, 2023 had Paritrupt Bagadia Co-Founder & Chief Technology Officer, Insomniacs Digital Pvt Ltd and Digvijay Chauhan, Chief Business officer, Totality presenting the case for need of Digital Transformation and Artificial Intelligence in Real Estate that could be a gateway to 2X Top-Line growth every 2 years.
Their presentation highlighted the way real estate is functioning today and the challenges it faces in terms of efficiency and scaling up to meet the customer and business demands, while doing things the conventional way.
While sharing the presentation, the speakers highlighted the role of generative-AI in marketing and DeepLearning along with AI in nurturing sales. They emphasized that digital transformation is a prelude to AI because AI is only as good as the data that it's built on.
Paritrup Bagadia said, “The core steps in digital transformation are firstly enhancing data management & consolidation and plug business process inefficiencies and potential for data loss. Next, upgrade marketing analytics and enable easy amalgamation with digital engagement to enable superior segmentation and targeting. Finally, DeepLearning will identity-resolution led trend analysis and superior customer segmentation. Prescriptive AI will provide real-time nudges and conversation pointers to enable narrative control and conversation personalisation and Generative AI will offer automated content and conversational responses driven by NLP, identity-based segmentation and omni-channel interactions.”
Digvijay Chauhan gave five predictions for the near future, “Very soon, contact centres will get obsolete. Marketing Mix will be driven by AI-led insights. Employee reviews would be continuous & tangible. Real estate buying will become experiential and Real-Estate Selling will go beyond hyperlocal.”
The session concluded with audience questions and the speakers shared that if the real estate firms want to stay in the game and ahead of the curve, digital transformation is a necessity. However, it cannot be piecemeal and a correct approach and methodology is important for it to earn 2X Top-Line growth every 2 years.
Watch the entire conversation here: https://www.youtube.com/watch?v=hBKCKGaX9KY
