Our Real Estate Culture Policy Institute, Joint Agreement Ceremony for Developing AI Real Estate Value Analysis System

Application of Artificial Intelligence Technology Using Big Data Analysis and Deep Learning Techniques

[(Left) Lee Seong-yong, CEO of Uri Real Estate Culture Policy Research Institute, (Right) Jang Jeong-yeol, CEO of FA Solution]

Our Real Estate Culture Policy Research Institute (CEO Seongyong Lee) announced on the 9th that it will jointly develop an artificial intelligence real estate value analysis system with FA Solution (CEO Jungyeol Jang).

The memorandum of understanding (MOU) ceremony was held at the conference room of the headquarters of Our Real Estate Culture Policy Research Institute in Yeouido.

Through this agreement, based on the data collected by Our Real Estate Culture Policy Research Institute, FA Solution will conduct real-time big data analysis on various factors determining real estate prices. This applies artificial intelligence technology using big data analysis and deep learning techniques to the value assessment and price estimation methods traditionally conducted by appraisers and property analysis experts. Considering the volatility of the real estate market, the plan is to reasonably present the expected estimated profit from holding and the realistically tradable price.

Both companies aim to build a system that objectively evaluates the value of the rapidly increasing real estate sales properties and enables real-time analysis and transactions on smartphones. The service will be provided through the TradeLand platform, and future enhanced services and effective utilization methods of the system will be discussed according to the development stages.

A representative of Our Real Estate Policy Research Institute stated, “The AI real estate analysis system that the two companies will build will determine more objective and realistic prices through artificial intelligence, enabling rational and swift decision-making for sellers and buyers.” They added, “With the activation of transactions and vigorous economic activities, it will be helpful to many users.”