How can AI help home buying? Calgary firm wants to find out
A Calgary home builder is introducing artificial intelligence (AI) into the real estate market, a tool it says would help give Canadians the foresight they need as competition remains red hot.
Hopewell Residential has partnered with OpenHouse.ai, a Canadian tech company that's using AI to enhance the experience for prospective home buyers.
The company says using AI would streamline the home buying process and offer each client their own experience.
However, its real strength comes when it offers predictions on where Canada's hot housing market could be heading.
"This allows Hopewell to strategically consider its pricing levels and promotions to meet changing market conditions - before they happen," officials said in a release.
"With a clear vision of where the market is heading – including shifting interest rates, supply and demand, and material costs – Hopewell can make informed decisions to keep homes readily available and affordable for buyers."
OpenHouse.ai says the residential construction industry has largely ignored the use of AI because tech companies haven't worked hard enough to understand the needs of those companies.
"To meet the demands of a dynamic housing market, our goal is to help home builders deeply understand the needs of homebuyers and, ultimately, build better homes to suit buyers' needs," said OpenHouse.ai CEO and co-founder Will Zhang in a news release.
"We believe that AI can finally accelerate the digital transformation of the home building industry, and we are grateful for the opportunity to work with some of the most forward-looking builders in this industry to make a difference."
Hopewell says its collaboration with OpenHouse.ai has also helped it create an online platform called OpenConnect, which reviews buyer behaviour patterns, analyzes their needs and helps them easily find the homes they're looking for.
CTVNews.ca Top Stories
Invasive and toxic hammerhead worms make themselves at home in Ontario
Ontario is now home to an invasive and toxic worm species that can grow up to three feet long and can be dangerous to small animals and pets.
Opinion I just don't get Taylor Swift
It's one thing to say you like Taylor Swift and her music, but don't blame CNN's AJ Willingham's when she says she just 'doesn't get' the global phenomenon.
Haida elder suing Catholic Church and priest, hopes for 'healing and reconciliation'
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
Tornadoes collapse buildings and level homes in Nebraska and Iowa
Tornadoes wreaked havoc Friday in the Midwest, causing a building to collapse with dozens of people inside and destroying and damaging hundreds of homes, many around Omaha, Neb.
From pop to politics, what to know as Sweden prepares for the 2024 Eurovision Song Contest
Taking place in May in Malmo, Sweden, the 68th annual competition will see acts from 37 countries vie for the continent’s pop crown in a feelgood extravaganza that strives — not always successfully – to banish international strife and division. And you don’t have to be in Europe to watch, or to help pick the winner.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
It's 30 years since apartheid ended. South Africa's celebrations are set against growing discontent
South Africa marked 30 years since the end of apartheid and the birth of its democracy with a ceremony in the capital Saturday that included a 21-gun salute and the waving of the nation's multicolored flag.
Britney Spears settles long-running legal dispute with estranged father, finally bringing ultimate end to conservatorship
Britney Spears has reached a settlement with her estranged father more than two years after the court-ordered termination of a conservatorship that had given him control of her life, their attorneys said.