Keller Williams is teaming up with Austin-based artificial intelligence firm KUNGFU.AI to create a new data pool and explore future tech gamechangers for real estate agents.
The first project KW and KUNGFU will work on together is a program that can read and help generate business insights from PDF-based real estate contracts, which contain a mixture of text and handwriting.
“Due to size, Keller Williams has access to the largest proprietary data sets in the real estate industry, rolled up inside of its Keller Cloud. In the new world of AI, where the importance of data is paramount, they are aggressively taking advantage of their position in the market,” said Ron Green, chief technical officer at KUNGFU.AI.
“For our first project together, we’re taking a practical approach toward a narrow use case to quickly move the needle and will then look to drive ever greater impact from there,” Green added.
Because real estate contracts are typically composed of mixed media, the data within them was considered unusable. Processing those contracts would have been time and cost prohibitive. The KUNGFU software will use computer vision technology to make real estate contract data readable for computers and usable for data sets.
“With KUNGFU.AI, we’re adding top experts and leaders in the field of artificial intelligence to our strong internal development team. We’re rapidly accelerating and bringing more and more value through our proprietary technology to empower agents to provide the best consumer experience,” KW Chief Product Officer Neil Dholakia said in a statement.
“Through this partnership, we will bring a highly anticipated new Kelle skill to our agents fast,” he added.
According to its release the new product will be available before year’s end in the KW app, Kelle.