By Kevin Hawkins with Korey Hawkins | Vol. 2 Post 49
REAL AI is a human-created weekly roundup of all things related to artificial intelligence in real estate and emerging AI innovations in other sectors likely to impact our industry. We post a new edition every Friday, and our free newsletter is delivered every Monday.
Text from image pro tips
Most real estate agents know that ChatGPT‘s superpower is content creation, but more and more, we are discovering it has other Ninja moves that impress.
Putting together this weekly AI newsletter for real estate helped us test and refine ChatGPT’s ability to extract text from images. Each week, we create an image at the bottom of the issue called “AI Quote of the Week.”
We build our quote images in Canva. We often are on deadline, and because we are in a rush, we generate all the text directly inside of Canva.
Unfortunately, we did not keep an ongoing record of all 68 quotes we have created since we started this newsletter in August 2023. We needed to fix that, and ChatGPT could help us with its ability to extract text from images precisely.
We also knew ChatGPT could read each image with the quote and organize the text so that we could import it into a spreadsheet. That allows us to use it for future tracking purposes and data extraction, i.e., how many quotes are from someone at OpenAI, how many quotes have the words “real estate,” etc.
What we learned from using ChatGPT for text extraction is a pro tip that rings true for anyone who uses ChatGPT for survey data calculations: give it your project in chunks.
We placed the 60+ images of our quotes into a PDF. We then gave ChatGPT a detailed prompt on what to do and the format we wanted for the exported data. What happened next was predictable: ChatGPT failed.
First, it failed to read the images. It gave us a bunch of quotes with dates and no information. We tried multiple times to refine the prompt, but ChatGPT still failed.
We then tried different file export formats – Word doc, text file, Excel file – and ChatGPT did not give us what we asked. We suspected we were overloading ChatGPT 4o as we have found this happened before when crunching a massive amount of survey data.
We then took the 20+ page PDF and broke it into about a dozen PDFs of two pages each, with three images on each page. We then asked ChatGPT to display the results on the screen in a format we could copy and paste.
The results: It worked perfectly. We cut and pasted the displayed copy into a Word doc. The final step was to upload that Word doc into ChatGPT and ask to give us the data formatted for an Excel file. We now have every quote and its complete attribution data. (-Kevin)
AI reimagines online shopping
Holiday shopping often means juggling product research, reviews, comparisons, and purchases across multiple sites, but Perplexity Pro introduces a new AI-powered shopping platform that could cut your online shopping time in half.
Perplexity Pro Shopping is an AI-powered tool combining research, discovery, and purchasing into a single platform, offering clear product comparisons, detailed pros and cons, and a seamless checkout experience, all designed to save time shopping online. By reimagining online shopping, it directly connects search to purchase in a highly novel way.
Among the key features:
Snap to Shop (Visual Search): You can upload a photo of the product you want to buy. Perplexity Pro uses computer vision to discover similar or identical items without knowing their names or descriptions.
Combines AI search and e-commerce: Its new integrated platform allows shoppers to research products and compare them within the same search experience. Comparisons are summarized in clear language, so you don’t have to sift through multiple reviews or sources.
Unbiased Product Recommendations: Recommendations are powered by AI and are not influenced by sponsored placements, making them more objective. Products shown feature detailed product cards with pricing, seller information, pros and cons, and reviews.
Free Shipping for Subscribers: Like Amazon Prime, all purchases made through its “Buy with Pro” feature include free shipping.
One-Click Checkout: Like Amazon, you can purchase items you discover with your AI search directly within the Perplexity platform without being redirected to external retailer websites. This simplifies the checkout process by securely storing shipping and billing information, automatically calculating taxes, and offering free shipping for Pro subscribers.
Perplexity Pro will set you back $20 monthly for a Pro membership with an all advanced Chatbot and AI general search features, plus the new shopping platform. You can see its promotional video here. (-Kevin)
AI Facts
- 55% of US adults have shown interest in utilizing AI for an image-based item search – CivicScience
- 40% of US holiday shoppers admitted to using generative AI to find the best deals for specific items – Boston Consulting Group
- 91% of US e-commerce decision-makers believe AI helps them with forecasting and predicting demand – Commercetools
- 57% of global consumers state they’re less likely to buy from a business they know uses chatbots instead of people to resolve customer service issues – VML
- 65% of consumers worldwide said they would let AI agents book hotels/resorts for them – Accenture
Source: eMarketer (-Korey)
AI Headlines
CoreLogic’s Shaleen Khatod on the role of AI in real estate | 12/3/24 HousingWire
Khatod discusses how AI should drive “agent intelligence.”
Google’s new generative AI video model is now available | 12/4/24 The Verge
With OpenAI’s Sora nowhere in sight, Google responds with Veo.
How Emerging Technologies Are Shaping the Future of Mortgage and Real Estate | 12/5/24 HousingWire
Real estate and mortgage leaders discuss the emerging role AI is playing.
Bipartisan bill would study AI’s impact on banking, housing | 12/2/24 The Hill
The AI Act of 2024 raises the question: how should AI be used in housing and financial decisions?
Transforming Work: Gartner’s AI Predictions Through 2029 | 11/27/24 SHRM
As AI integration rises, transparency, trust, and ethics are more important than ever.
California Cities Are Fighting Landlords Using AI for Rent Hikes | 12/5/24 VICE
San Francisco has become the first U.S. city to ban AI pricing. (-Korey)
AI Quote of the Week
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Content suggestions welcomed: email korey@wavgroup.com
