How will Artificial Intelligence impact Property Valuation?

The emergence of Artificial Intelligence (AI) and its potential to disrupt business practices and improve lives is currently one of the hottest topics in real estate and beyond. Much is promised on the application of AI and there are some very divergent opinions on what it will be able to deliver in practice and by when.Property valuation is process-driven and relies primarily on the analysis and interpretation of multiple data sources from macroeconomic and market information together with property-specific factors and the analysis of transactions. AI is often considered as an existential threat to jobs that are capable of automation, especially those that are heavily dependent on data analytics, or are repetitive in nature and follow consistent processes.

This white paper explores what AI may mean for the future of property valuation,and how it may impact the role of valuers in the future.