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Artificial Intelligence Now: RE Roundup

Automation contributes to the replacement of people on the job.  At minimum, it shifts roles of persons at work.  Industrial and technological changes have transformed work and the economy.  Beyond programmatic automation, though, are vast possibilities for the application of artificial intelligence (AI). 

AI is getting its fair share of PR.  Tesla and SpaceX’s Elon Musk spoke of unregulated artificial intelligence at the National Governors Association meeting this summer as the, "biggest risk that we face as a civilization."  That superlative puts people on edge when talking about the future and economic displacement.  And yet, connections to AI are already present. 

What is AI, in simplistic terms?  In their conversation on the show 1A with host Joshua Johnson, Coursera co-founder Andrew Ng shares, "One piece of AI that might be easier to craft a more specific definition on is machine-learning, the idea that computers can learn.  A lot of the recent rise of AI has been due to a set of technologies around having computers look at raw data and learn from that."  Economists predict AI will increasingly grow capable of performing what were, up to this point, human tasks.

Is AI creeping like algorithmic kudzu into knowledge-based professions in real estate and related service sectors? 

Let's begin with a roundup:

The Next Job Humans Lose to Robots: Real Estate Appraiser” by Joe Light, in Bloomberg Businessweek, published by Bloomberg.

Can AI Be Programmed to Make Fair Lending Decisions?” by Penny Crosman, on AmericanBanker.com, published by SourceMedia.

What Financial Jobs are at Risk of Automation?” by Grace Noto, on BankInnovation.net, published by Royal Media.

Artificial Intelligence in Commercial Real Estate: Three Ways AI Can Drive Savings” by Edmund Zagorin, published on Techemergence.com.

Artificial Intelligence (AI) in Real Estate: Negating or Monetizing An Agent’s Experience?” Op/ed by Sam DeBord, in The Real Daily, published by The American Genius, LLC.


Flooding, NFIP, and the Future 

Insuring against risks inherent with real estate is a practical and ambitious undertaking.  When it comes to enormous disasters, floods are perils with tremendous consequences.  In 1968, after decades of calls for federal support with regard to flood losses and rising disaster relief costs, the National Flood Insurance Program (NFIP) was enacted by Congress which, among other things, subsidizes flood insurance. 

Nearly fifty years later, what is the financial condition of the NFIP?  Is the federal program adequate for the future?  What changes may be in store for U.S. policy towards weather-related catastrophes?  In 2017, the NFIP is up for reauthorization before Congress.    

An informative initiative is accessible thanks to The Pew Charitable Trusts’ project on creating flood-prepared communities.  Pew documents that 39% of the U.S. population

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Magazine for Real Estate Investing

Readers with a passion for wealth creation from real estate investing have a focused resource in the periodical space.  Think Realty: The Magazine for Real Estate Investors® delivers “actionable ideas and money saving advice” six times per year.  First-time investors and experienced professionals can tap into content that speaks to issues faced in the dynamically rewarding industry niche of real estate investments.  Think Realty Magazine is published by Affinity Real Estate Media LLC.  Also check out ThinkRealty.com.