AI meets Real Estate: Deepblocks 

by Calvin on July 7, 2021

in Articles

Artificial intelligence is changing the way we live. Humans have harnessed the means to think exponentially instead of linearly, which enables us to work more efficiently and on a much larger scale. Every day new progress in AI technology allows humans to go farther than our minds are capable of. More and more companies are thinking of new ways to use artificial intelligence for different purposes to solve problems in different markets. 

The startup Deepblocks is a clear example of how these new developments in AI impact the real world through its revolutionary innovation for real estate development. Today it takes 3-5 market experts about 4-6 weeks to properly compile and attain all the zoning and parcel data, and generate scenarios from a volumetric, cost, and financial perspective. Deepblocks software takes this complex 6-week, multiperson process and condenses it into 15-20 minutes for one person. This unparalleled progress allows developers to not only work faster but to cut back on extra costs that hinder growth, boosting efficiency. According to the VP of Investments at Weichert Commercial Brokerage, “Deepblocks is a truly great piece of real estate technology”, “a god-send”, and “long overdue”. 

The program also allows for clear communication in the preliminary stages of real estate development. One customer explains that Deepblocks enables them to effectively liaise with their team: architects, banks, and general contractors. The software gives them a clear picture of the project’s volumetric and financial characteristics and the information they need in order to coordinate the project.

Deepblocks is now active in 55 major US cities, along with some international locations including Panama City and Toronto, with over 100 more to come within the next few months. Driven by artificial intelligence, data science, and 3D modeling, the Deepblocks software shows just how crucial AI is to growth and how efficiency in project analysis streamlines real estate development. 

Deepblocks also highlights how artificial intelligence benefits communities in the long term by reducing the time and manpower required for each development. In reducing the cost of development, Deepblocks contributes to the efforts of making affordable housing profitable. Deepblocks alleviates much of the strain that characterizes the modern housing market. The software even outlines opportunity zones, demographic trends, and market rates, so areas of interest are more easily located by developers. 

Deepblocks customers can create 3D models of possible developments with all the data they need to build, just a click away. Deepblocks’ Founder and CEO, Olivia Ramos, believes that “machine learning will provide unprecedented insights that will enable cities and developers to optimize decisions about where to build, what to build, and when to build.” This all culminates into a very exciting circumstance that exemplifies AI’s effect on efficiency and overall productivity in real-world markets.

https://www.deepblocks.com/

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