AI could soon tell you the future value of your home
— and data on how their prices have shifted over the years. The researchers used a deep learning model to help the bot identify connections between homes' visual features and their values.
The results: The bot can look at a house and predict its price with"striking accuracy," Ratti said. But it might be more than just an"When other variables were added — such as structural information and neighbourhood amenities — our algorithm was able to make very accurate predictions of how prices would change over time," he wrote. of US household wealth, per the Census Bureau. Only retirement accounts had a bigger share at 36%.
But these wealth gains are only possible if one lives in a home whose value rises considerably over time. In the future, AI tools like the one at MIT might helpThese technologies could come with some risks, however, Ratti said. For one, they could have aSomeday, if more is learned about what visual features produce high home values, homeowners could begin making a series of seemingly inconsequential changes to their homes — all to appease the bots.
"Imagine a dystopian future where everyone repaints their house a specific colour to game the system and impress the Google Street View Car," Ratti wrote. Subscribe to push notifications
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