A transformative era awaits as industries across all landscapes are heavily adopting AI in their day-to-day activities. According to a recent study, From 2022 to 2030, we're on track to witness a significant AI surge, projected at an impressive 38.1% CAGR. AI is not just a trend but a tidal wave of innovation that can reshape the world around us and how we interact with it. In this epoch of unparalleled transition, every industry from finance to healthcare, from tech to others is embracing the power of AI. Industries integrating AI in their operations are creating a story of unparalleled growth and painting the canvas for a new tomorrow. 

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Artificial intelligence has added new wings to fly higher for many industries. Artificial Intelligence is like a super-intelligent digital brain that can think and act like a human if trained accordingly. You can imagine AI as an extended digital brain of yours that can perform any task in the blink of an eye. When every sector of business is learning, adapting, and changing with the emergence of AI, how can real estate be left behind? The slow old traditional industry of property estate is also incorporating technology into its workflow to become more efficient. The fusion of real estate and tech is often referred to as Proptech and AI is playing a pivotal role in further reshaping the industry.
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AI has found its footing in Finance, Telecom, and Retail as the top three industries driving its adoption. AI in the telecommunication industry is on a robust growth trajectory with a projected market size of $14.99 billion by 2027, compared to $11.89 billion in 2020 and it is underpinned by an impressive CAGR of 42.6% during the period from 2021 to 2027. Not only this 90% of retail industry leaders are confident in their workforce's readiness and AI-related skill. According to an IDC report, the financial services industry as the second-largest AI investor, their surge in investment is anticipated to reach an astonishing $204 billion by 2024. AI is not just a buzzword anymore the impact of AI in these industries is quite significant. AI in real estate also opens various doors of possibility and expands the scope of growth for the property market to bloom further. The core fundamental of the existence of AI is to solve the existing problems and become the key to unlocking new possibilities.

Data Analysis and Insights Mining

In the vast sea of data, every information is important. Manually handling and analyzing data can create a lot of errors. It becomes a hindrance in the way of extracting valuable insights, impeding decision-making processes, and limiting the innovation potential. This is exactly where AI is required the most. It not only can make the data analysis process faster but also produce very accurate results. Data is everywhere and the requirement of its analysis is part of any and every industry. Whether it's analyzing complicated customer data or sorting through relevant information. Embarking on a quest to find your dream home can be an overwhelming journey. Imagine manually inspecting every property to match your criteria sounds exhausting right? AI can simplify this entire process, making this entire process effortless for both buyers and sellers.

Omnipresence for enhanced Customer Experience

‍More than anything customers drive the business. End of the day every business wants to satisfy its customer team to the fullest, however those in the customer service industry can attest to the challenging nature of client engagement. Therefore achieving full marks in customer engagement without the presence of AI is very unlikely. AI chatbots enhance customer engagement by providing 24/7 support, answering queries, and more. The back-end team also can analyze this data to understand their customer better.

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Solving for Diversity of Languages

In an interconnected world, language diversity can pose challenges for international businesses in the travel industry. The linguistic barriers can create gaps in communication, open doors for misunderstanding, and also lead to customer dissatisfaction. Imagine you are in search of your dream property but the only hiccup in this journey is the language. AI can solve this age-old problem and make interactions more lively and easier. Talking about multilingual AI, Relata has also come up with an AI solution named Reiya aimed at streamlining conversations and elevating the customer journey in the Real Estate industry.

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Power of AI to transcend customer engagement in the Realty plane

Reiya’s linguistic prowess spans over eight languages, it is like your real estate companion with abilities that extend beyond the textual. Reiya doesn't just communicate; she harmonizes with your clients, she serenades clients with her voice, offering a unique and personalized touch to each interaction. Reiya accepts both voice and textual commands. Reiya also can speak in different accents. Reiya is here to make buyers' journeys hasslefree by answering any queries with tailored responses that are efficient and precise. It can also share collateral links meaning it focuses on what's relevant to the buyers. Now property buyers can easily interact with Reiya in their very own language. The backend team will also be able to track these conversations which can help them understand customers like never before. In a way, we can say this AI is dedicated to making customer interaction better by providing intuitive solutions that enhance communication and engagement.

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As AI continues to evolve, now it has the power to lift any industry to new heights. Instead of being scared about whether AI can replace human jobs, it is high time to embrace the essence of AI in day-to-day operations. AI is here to stay, it is here to increase efficiency, save time, and open new possibilities by reshaping the way we work, learn, and do business. In the Proptech realm, Reiya might just be the tip of the iceberg, demonstrating how technology can dismantle language barriers and streamline the customer experience. In conclusion, we can say artificial intelligence is the catalyst for transformative change in industries. AI is the vibrant thread that weaves new possibilities every day.

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