When it comes to the most profound technology that can redefine the way we do business and live our lives, it is clear that Artificial Intelligent (AI) has the power to do that. The technology has already unlocked some of the biggest challenges—that were not possible in the past—in diverse industries including healthcare, retails, manufacturing, cybersecurity, transportation, and logistics. And it is getting better.
However, the Real Estate Industry is lagging in AI application and is yet to experience the top-notch application of the technology. But that is changing soon as increasing tech providers are leveraging AI to advance the industry. AI may be at its nascent in Real Estate, but there are increasing evidence and prototypes that demonstrate the viability of the technology that will transform the industry. Innovative companies are trailblazing the application of AI and redefining the Real Estate Industry.
Developers, Investors, and Stakeholders, particularly, in Real Estate Development can be confident in their real estate projects as AI begins to power their business for real-time design analysis and predictive market analysis, with precision and speed. With AI, the ability to predict the future of deals, markets, pricing and success of a project is changing.
Deepblocks is at the forefront of this transformation. The company leverages AI to enable the players in the industry to be prudent and precise in their planning to ensure that every real estate project is successful. As a company co-founded by experts in diverse fields including AI, Real Estate, Architecture and Finance, Deepblocks provides a holistic insight and streamlined process of real estate development so that every participant can have a common understanding of the finance, design, opportunity, and viability of the project.
Tackling the Biggest Challenges of the Industry
Real Estate Development has long been grappling with inaccurate prediction, fragmented tools, siloed data among diverse experts, long process and expensive planning of the project. To address these challenges, Deep Blocks was started in 2016 at Singularity University’s Global Solutions Program. Olivia Ramos, CEO of the Company says, “We developed a vision of employing artificial intelligence to solve the enormous complexities surrounding building projects, and , providing tools that can be used to plan and build the cities of the future.” The company uses subsets within AI along with big data to accurately visualized and analyze the future market viability of real estate projects.
Despite huge investment from government and private organizations in urban development, the provision of affordable and quality housing for everyone has not been achieved. The siloed of information among many disparate specialties makes the process extremely expensive and contributes to the affordable housing crisis. This also makes it difficult to communicate between all the players and experts involved to analyze the visibility of a single project, planning and charting the long-term path of the urban development. Deepblocks is addressing this problem by integrating real estate logic and market data into a common platform for all stakeholders to work in a consensus and fast manner for any project.
Another challenge of the industry is its cyclical nature and the reliance on external forces such as financing, foreign investment, and government policies. These forces tend to incentivize a myopic view of the bottom line, and often result in an unnecessary product because there was no market to begin with. Historically, the solutions for real estate development have largely been a guessing method as providers do not have a control of the external forces and that puts the project at high risk.
Deepblocks approach is different from the traditional practices. Ramos says, “We believe real estate development should be driven by the internal demands of the city and its aspirations to build a thriving and equitable environment for its residents. We are building an infrastructure of real estate information exchange in order to accelerate the adoption of optimal solutions.”
In addition, the tools in real estate development are fragmented, requiring a multitude of software programs and many experts, making it impossible for developers to have any autonomy in the industry. Deepblocks is integrating these tools and experts’ knowledge into a single platform to provide a holistic insight to its clients.
The Benefits of Deepblocks for Clients
Deepblocks provides subscription-based SaaS software for real estate modeling. Users can select, investigate and analyze any parcel of land for potential projects within a city. They can choose between any combination of building uses, market types, density types, and then adjust assumption according to their vision for the project. As users tweak and experiment with different options, they are presented with real-time financial breakdowns of the project, along with a 3D rendering of the building. Developers can test the feasibility of any development option on any parcel of land in a matter of minutes. The software also offers pro-formas, waterfall calculation, sensitivity analysis, construction schedules, and potential project phasing. This accurate analysis and optimized process increase the chances of success of any real estate project.
Currently, the AI system of the company is in its infancy and still requires more data to truly be ready for its big debut. As the system matures, it will be able to suggest the best real estate practices, and tackle complex challenges such as optimizing a dollar amount of potential investment in a particular geographical area. The software will calculate all options available in the area and present the user with the top development choices for the investment amount. “Deepblocks will serve as a fully-integrated, unified intelligence platform for insight into the future of cities as a whole,” says Ramos.
Committed to Help in Building the Most Desirable Cities
Deepblocks comprises of 11 experts in the core areas of Real Estate Development and AI, all driven by the desire to be a part of shaping the cities of the future. The team benefits from a rich exchange of ideas in engineering, advance technology, finance and marketing. Ramos says, “Although the work is challenging, we are all grateful for the opportunity to make an impact in an environment where we are surrounded by smart and passionate people.”
Regarding the future, Ramos says, “We aim to have our system working in every city of the world.” Deepblocks seeks to be the leading information hub for real estate development and insight into what cities need in order to grow responsibly and effectively. She adds, “In the near future we will be able to design urban planning strategies for up-and-coming cities that lack contemporary infrastructure.” Not just for the big organization, but the company also empowers the small property owners to maximize their investment and make an impact in their neighborhood development.
In today’s age of rapid advancement, Deepblocks is enabling the players in real estate development to be more relevant in the market, more accurate in their analysis, and have a better chance at making a difference towards the future of our cities. By integrating the fragmented tools and data among various providers and experts, and by leveraging AI, the company is delivering a holistic insight into the future viability of a real estate project for developers and investors to build the most desirable cities, inclusive to all income levels.
Quotes: Deepblocks is enabling the players in real estate development to be more accurate in their analysis, and have a better chance at making a difference towards the future of our cities
We believe real estate development should be driven by the internal demands of the city and its aspirations to build a thriving and equitable environment for its resident