Artificial Intelligence in Property – Interview with L.D. Salmanson, Cherre

About Cherre

Cherre is a Data Fusion platform that allows the largest investors, banks, and insurance companies to connect and resolving real estate data from thousands of public, private, and internal sources in real-time to make better investment and underwriting decisions.

How are you using AI?

We use machine learning in many parts of our company, including to help identify how people are connected to each other, and to assets that they own or in which they reside. We also use various image classifiers to extract features from images or text, such as roof type, kitchen condition, or financial terms. One of our biggest challenges is to resolve data in real time, and we also use machine learning models to automatically identify field types and connections.

An example of a client benefitting from your services

Our clients choose Cherre because we are the only platform that can connect large amounts of data, from any source, in real-time. Most importantly, we connect desperate internal client data, such as reporting tools, CRM systems, research data, social media platforms, and more. Because we’re dealing with the largest companies in the world, they often have data going back many years, and in many formats. This essentially means that they have no idea sometimes what certain fields represent or relate to anymore. For the largest P&C insurance company in the world, our entity resolution classifier within the CoreConnect platform, the Automated Schema Mapping Engine (ASME), was able to identify all objects and fields seamlessly in real-time to provide our client with connected data to power their pricing models. We are also working with them to further extract features from their unstructured data.

What Real Estate companies should consider when trying to adopt AI

AI is a collection of tools and disciplines. Ignore the buzzwords. Business leaders shouldn’t really care about what technology or methods are used behind the scenes to achieve the end goal, and instead, focus on the company or the internal platform’s ability to deliver on that end goal. That end goal could be predicting renewals for multi-family rental buildings, ROI and NOI bands for investments, risk factors for property insurance, risk concentration for mortgage underwriting, prepensely to sell, or anything that matters to your organization. You know what matters to your organization, so make sure that whatever company you work with or platform you build, meets your end goal – regardless of what enables that capability.

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