Pakistan’s real estate sector is the country’s most productive industry. It has also observed a massive increase in housing development projects that have created high demand for infrastructure. Development in the real estate industry also promotes growth in other sectors. However, the challenges faced by the industry can be addressed using digital technologies. With the growing digitisation trend, digital transformation will restore consumer and investor confidence in Pakistan’s real estate market. Recently, several technologies are already being used to embrace tech evolution in the sector, including Artificial Intelligence and Machine Learning. Such technologies help unlock the sector’s true potential.
Artificial Intelligence (AI) helps real estate experts examine property valuation, debt levels, home renovations, and even some of a homeowner’s personal information in the blink of an eye. It eases the home buying process with the help of computer algorithms that can process millions of records in seconds. Machine learning (ML) leverages the power of data to predict the best pricing strategy. These technologies facilitate the evolution of the property, simplify transactions, and process home searches. Such digital technologies enter from consumer buying and selling strategies to invest in the construction of large commercial projects. Using technologies like AI and ML can greatly improve the reliability of conducting business in Pakistan’s real estate sector.
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