| |June 20188he irreversible trend of migration to urban cities has increased over the years putting fur-ther pressure on various cities across the country. At one level, there is an increased urgency on these urban bodies to provide the necessary amenities, but it also opens new opportuni-ties with population streaming into these cities. The biggest op-portunity is the real estate mar-ket as the demand for housing re-mains on the upward mode. Home rental is key segment of this mar-ket which remains a valuable rev-enue generator for any economy.However, the home rental market in India is very complex with archaic regulations, random pricing, and demand-supply constraints ­ in short, an unorganized segment. This scenario presents itself for a technology like Artificial Intelligence (AI) to play a very disruptive role.AI can be described as a multi-faceted computer science which has the elements of history, psychology, sociology, mathematics, biology all combined into one to mimic humans through the machines. Though, still in its infancy in terms of the applications, AI has the potential to disrupt every industry even home rental included.Given the unorganized nature of the home rental market in India, AI presents the opportunity of bringing in a semblance of order.The biggest advantage of using AI in the home rental market could understand the profile of the tenants. As they say data is the new oil, there is a trail of information that people leave on the Internet - be it using social media or accessing the smartphones. If one can harness this data by deploying AI, there is ready-made profile information of any potential tenant.Now, it becomes very cumbersome to run through the classified listings to scout for any suitable rental property, but the application of AI can change the entire scenario upside down with the individual literally having all the information right in front of their PC based on their requirement. Today, it is almost a given that chat bots are a standard feature when anybody surfs into a website. This is the beginning of AI as the standard queries of any potential tenant is answered through these chat bots.HOW AI CAN DISRUPT THE HOME RENTAL INDUSTRY?By Smruti Prada, Co-founder and CTO, NestAway TechnologiesNestaway is India's fastest growing `managed home rental'company attempting to provide better rental solutions via design and technology. The company aims deliver a hassle-free on-boarding, servicing and exit experience to both home owners & tenants.Texpert opinionSmruti Prada
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