HelloData reposted this
It seems like AI is the best solution for so many problems, but most of the time it's complete overkill. HelloData just released a new "Market Alerts" feature that analyzes changes in your rents, concessions, time on market, etc. relative to your comps, summarizing updates in plain English... and we did it 100% without AI. Aside from issues with LLMs "hallucinating" values, they can also be VERY expensive to run at scale. So expensive in fact, that if we used ChatGPT to process specials every day for the 4M+ properties we track, the annual cost would easily be in the 7 figures (had to build our own LLM specifically for concessions instead). If you're launching a PropTech startup, my advice is that AI can do amazing things, but don't use it just for the sake of using it. What works for your first 10 clients won't necessarily scale for your next 100. Great work on the new feature Nicolas Lassaux! #multifamily #marketanalysis #data #ai
Interesting insight, thanks for sharing!
Brilliant -- the feature, AND the approach, Marc Rutzen! 👏🏼
Keynote Speaker. Creator of the #GenerativeAIforRealEstatePeople Course | Master Generative AI in Real Estate: antonyslumbers.com/course | AI won’t take your job—someone using AI will. @genaiforrealestate on Instagram
1moAnd presumably don’t use it when some gool old data science does the trick nicely. Like your use case. Why use an LLM for this anyway?