– Inman is hosting several real estate events, including Connect Miami, Luxury Connect, and Inman Connect Las Vegas.
– ElevenLabs, a company specializing in voice-mimicking artificial intelligence, reached “unicorn” status with $80 million in funding from notable investors.
– Ylopo, a proptech company, showcased its expertise in voice mimicry marketing at a recent event.
– Ylopo’s AI, Raiya, is becoming more advanced and is being used for lead conversion and appointment setting.
– BoomTownPro, another proptech company, combines machine learning with real people to cultivate leads and update databases.
– AI is expected to greatly impact the real estate industry, although it won’t replace agents entirely.
– There are concerns about the risks of AI, particularly in terms of voice mimicry.
– Ylopo is also exploring AI-generated video to respond to buyer preferences.
– Microsoft’s adoption of AI has contributed to its recent valuation of $3 trillion.
– Artificial intelligence will undoubtedly change the real estate industry, although there are still uncertainties about its future.
Mark your calendars for the ultimate real estate experiences with Inman’s upcoming events! Dive into the future at Connect Miami, immerse in luxury at Luxury Connect, and converge with industry leaders at Inman Connect Las Vegas. Discover more and join the industry’s best at inman.com/events.
On Jan. 22, the day before the official start of Inman Connect New York, a company reached “unicorn” status for its work in voice-mimicking artificial intelligence.
ElevenLabs’ latest round of funding amounted to $80 million, and it had some heavy VC hitters stepping to the plate: Andreessen Horowitz, former GitHub CEO Nat Friedman and entrepreneur Daniel Gross, who sold a search engine to Apple in 2013.
The same day TechCrunch reported on ElevenLabs’ $1 billion milestone, I was sitting in a suite at the Midtown Hilton watching Ylopo, a known teams-oriented proptech company, demonstrate its own expertise in voice mimicry marketing. Surrounded by his team, company CEO Howard Tager was using our talk as a run-through for his upcoming presentation on AI at Broker Connect.
Pressed for time when the lights went up Wednesday morning, Tager didn’t say as much to his audience as he did to me, but they were privy to the same message. I hope they were paying attention.
I harp often about proptech needing to condense business processes to be truly effective, to really make change. You can’t merely digitize a workflow or worse, give agents and brokers merely another product for their due diligence. Thankfully, AI is going to do this for us.
Whether you like it or not.
Ylopo’s Raiya has been around for some time, getting smarter. The company used 2023, arguably a very slow year for new business, to help Raiya mature from a loquacious chatbot to a quasi-free-thinking inside sales rep with a penchant for power dialing. Now, it’s deployed as your competition.
The company is going deep into voice analysis, carefully examining the pauses, intonations and, of course, the words that make human speech such a powerful universal medium. Ylopo has even hired actors to lend voices to Raiya and is always on the lookout for intriguing people to record to lend random realism to their AI.
Raiya doesn’t stutter or get anxious or stymied. When it’s made an appropriate level of progress with a prospect, it conducts a live hand-off to a designated agent and updates the user’s CRM. It’s also getting used in traditional top-of-funnel lead conversion, starting with listing page traffic and leveraging chat-capture tactics to make appointments.
Inside Real Estate’s BoomTownPro does great work for its customers in farming existing databases, a drastically underutilized source of business, by the way. The company combines machine learning user behavior analysis with real people to cultivate leads and update databases. It’s proven effective for years, I know agents who love it.
Ylopo is doing much the same but with an entity that needs less hands-on training and no desk space. It doesn’t fear the frustrated call recipient and can listen and respond without emotion for trigger words. It is doing what technology should — shrinking the lead capture and conversion process.
I said at ICNY that AI isn’t going to replace agents, but it will replace a lot of what you do. Other speakers said something quite similar, including MIT-employed AI specialist and presidential technology advisor, Dr. R. David Edelman.
“Artificial intelligence isn’t going to take your job, but someone who knows how to use it might,” he said. Edelman also discussed the risks of AI, specifically voice mimicry. It’s no longer science fiction or a tactic of the Impossible Mission force.
Speaking of presidents, in the lead up to the recent New Hampshire primary, a call campaign used President Biden’s voice to urge people not to vote. Scary stuff.
Ylopo’s Raiya will only get better the more often it’s deployed, as AI is supposed to do. It’s also very likely that, in time, businesses will be saddled with having to disclose when a call, or even a text, is coming from a server farm.
The company is working with responsive, AI-generated video, too, like BombBomb. It can adapt quickly to respond to a person’s buying preferences in the moments after a search, is versed in multiple languages, and is designed specifically for a smaller viewing window to avoid easy-to-spot flaws or glitches. Generative video is still easy to recognize when full screen and, thus, really distracting if not deployed properly.
As tired as I grew about all things AI at Inman Connect, it really is that critical a topic. The company was right to make it such a prominent panel topic. With its recent $3 trillion valuation, Microsoft bypassed Apple last week as the world’s most valuable company, largely on the merits of its adoption of AI. Looks like Clippy finally had its glow-up.
Artificial intelligence will really, unequivocally, change the real estate industry. Intimidating at times, yes, but as Dr. Edelman said, for now, it’s all just math and code.
Until it isn’t.
Property Chomp's Take:
Artificial intelligence (AI) has been a hot topic in the real estate industry for quite some time now. With advancements in technology, AI is becoming more prevalent and is set to transform the way we do business. One company that is leading the way in this field is Ylopo, a proptech company that specializes in voice mimicry marketing.
Ylopo's latest innovation, Raiya, is a voice-activated AI assistant that is revolutionizing the industry. Raiya has been in development for several years and has evolved from a simple chatbot to a sophisticated inside sales rep. It uses voice analysis to mimic human speech, carefully examining pauses, intonations, and words to create a realistic conversation.
What sets Raiya apart from other AI assistants is its ability to conduct live hand-offs to designated agents and update the user's CRM. It can also be used for lead conversion, starting with listing page traffic and leveraging chat-capture tactics to make appointments. Raiya doesn't get anxious or stymied like a human would, making it a valuable tool for real estate professionals.
Ylopo's approach to AI is focused on condensing business processes to make them more efficient. They understand that simply digitizing workflows or introducing new products is not enough to drive real change. AI is the key to shrinking the lead capture and conversion process, making it faster and more effective.
However, there are concerns about the use of AI in the real estate industry. Some worry that AI could replace agents, but industry experts, including MIT-employed AI specialist Dr. R. David Edelman, believe that AI will not take jobs but will replace certain tasks. The key is for agents to learn how to use AI effectively and adapt to the changing landscape.
There are also ethical considerations when it comes to AI, particularly in the area of voice mimicry. With the ability to mimic anyone's voice, there is a risk of misuse and deception. Businesses may be required to disclose when a call or text is coming from a server farm to ensure transparency.
Despite these concerns, AI is set to transform the real estate industry. Companies like Ylopo are leading the way in developing innovative AI solutions that will make business processes more efficient and effective. As AI continues to evolve, it is important for real estate professionals to embrace and adapt to these advancements to stay competitive in the market.
In conclusion, AI is not just a buzzword in the real estate industry. It is a critical topic that will have a significant impact on the way we do business. Ylopo's Raiya is just one example of how AI is being used to improve lead capture and conversion. As AI technology continues to advance, it is important for industry professionals to stay informed and embrace these changes to stay ahead of the curve.