AI + Property Valuation + Mortgage Grant

In the era of the Internet of Everything, some machines can exchange information with other machines without human operation to construct the Internet of Things. It is because of this breakthrough development that the process of AI artificial intelligence can also be further developed.

Nowadays, the application of AI is appropriate and wide. Whether it is security, payment, medical care, finance, etc., you can see the traces of AI. Thanks to the development of the Internet, a large amount of data is generated, and these data can be used by machines to learn and analyze and analyze. Summarize some conclusions to predict, calculate, and even identify people’s age, race, skin color, etc.

In terms of finance, I believe readers have heard of AI used to verify the identity of a borrower. Some companies even use AI to evaluate the credit of a borrower, and then decide whether to lend or not, or how much to give him.

For banks, building mortgages are their more enthusiastic borrowing category, because buildings have the effect of preserving their value. What’s more, in Hong Kong, a small place, even if the borrower is really unable to repay the loan, they also sell the property through “repossession.” auction. However, when it comes to property loans, banks often have a lot of manpower and material resources to evaluate the properties for mortgage applications. For example, they need to check the property’s past transaction records and the sales prices of properties in the same district as a reference. Thinking of using AI to save the bank’s human resource costs, as well as factors such as evaluating mortgage applications, the maximum amount the applicant can approve, and other factors, it really saves a lot of time.