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AI Valuations: can computers assess cars, jewellery and properties?

In just 2-3 years, artificial intelligence (AI) has transformed from an emerging technology to an essential one. AI companies raised a record $33 billion in equity funding in 2020, according to CB Insights data, and businesses that identify as AI extend beyond the tech sector. 

AI tools: overhyped or worth it?

While AI is still young, many consider it an overhyped piece of technology and are striving to find the “next big thing.” The problem isn’t with the technology itself however, it is with the application.

AI is frequently overlooked and misjudged; however, the fact of the matter is that most modern products would benefit in some way from machine learning (ML) or artificial intelligence, but we often don’t prioritise this due to perceived lack of time, budget or ideas on how to apply this technology.

How could AI help?

AI answers the most common questions related to products and purchase process:

  1. Do buyers understand exactly what capabilities they’re getting?
  2. Do buyers have an effective process in place to evaluate and leverage the technology?
  3. Do buyers, especially those outside the tech sector, really know how to assess the value of a potential AI acquisition?

We’ve picked 3 tools helping you make better decision in assesing jewellery, card and properties – and you can test them yourself!

 

 

The Diamond Pro experts have created the world’s first artificial intelligence (AI) tool trained to help you find an eye-clean diamond based on your personal budget, shape, setting preference and desired metal type. Ringo’s  AI technology can spot inclusions – a particle or flaw visible to the naked eye. When inclusions or flaws are not visible to the naked eye, a diamond is considered eye-clean. Ringo’s AI model is trained to use human-like visual perception to determine if each diamond is eye-clean, once the diamond is placed in a ring setting of the buyer’s choice. This was accomplished by running several thousand eye-clean or not-eye-clean decisions by The Diamond Pros through Ringo’s AI engine.

 

 

Brego uses artificial intelligence to predict the depreciation and ownership costs of cars. You can search for a car by the manufacturer name or by its’ features and then view the depreciation graph and ownership costs on the car page. Brego runs several lists of cars that meet certain criteria to show the power of our search engine, so you can see cars that have over 300bhp but cost less than £30,000. Brego’s AI models derive from those used in financial services to predict investments that were tailored  to fit the automotive market.

 

 

Houzen’s AI Valuation is based on multiple historical and real-time data sources gathered together to train AI and computer vision models. These sources comprise of UK’s real estate marketplaces (such as Zoopla, Rightmove), property data aggregators and statistics providers (such as PropertyData, Land Registry). 

All you need is a link to a Zoopla property listing – provide it on the houzen Deals page and in just 3 seconds you will get a full property analysis, together with houzen’s AI valuation. It’s the easiest way to spot an undervalued property for your next investment.

 

What does it mean for you?

If you decide to value your property using houzen’s Valuation tool, the Computer Vision will assess everything that’s visible on your property’s pictures and take them into consideration for the final price recommendation – even if it’s not mentioned in the written description. This makes houzen’s valuation much more precise and complete than a classic or instand valuation.

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