May 29, 2024

AIpowered

Could a new AI-powered real estate service replace your realtor?

Andy Young knew exactly what he wanted when he started house-hunting in the spring. The 35-year-old was looking to ditch his North York condo for a larger, detached home with a yard to share with his girlfriend. A frequent user of AI programs like ChatGPT, Young decided to give Wahi — a Toronto-based, tech-enabled real estate brokerage — a try.

He provided his preferred neighbourhood, budget and other parameters to Wahi’s AI-powered algorithm, refreshed the search engine nightly to find new listings, and co-ordinated showings with a roster of Wahi freelance real estate agents, paid hourly to accompany clients to open houses and home visits.


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"We want to be the super app for real estate in Canada," says Benjy Katchen, founder of AI-powered real estate brokerage Wahi.




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An AI-infused future

84%

of Canadian CEOs say AI will significantly change their business within the next five years.

35%

of Canadian businesses say they are currently using AI in their operations.

54%

of Canadian businesses using AI report they are concerned they may be making decisions based on poorly designed AI algorithms.

47%

of Canadian businesses using AI say they lack the in-house expertise to validate and verify the accuracy of their AI algorithms.

44%

say their AI data sets are either too small or too big, are missing data, are incorrect or not properly formatted.

Source: 22nd CEO Survey—Canadian insights and KPMG

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