If that's the case, Zillow buys the property right awayĪt some point, Zillow predicted it was going to buy 5,000 homes a month by 2024. That's not happening anymore:.Zillow uses its algorithms to figure out if it's a good deal.People propose Zillow itself to buy their homes.Every time a house is listed for sale, their AI suggests to the owner the right price to sell it at, and homeowners have a quick reference they can use to price their home.īut Zillow got so confident of their algorithms that they thought they could jump into a new business known as iBuying. Here's how it works: Zillow bragged a lot about their AI algorithms. ![]() The company in question is Zillow, an online real estate marketplace (basically eBay for homes) Specifically, the value of a good ML algorithm is $1, is how much an American company paid to whoever developed the best algorithm for the task. ![]() ![]() In the end, I always tell my audience that this is not just an exercise, and there is real business value in this apparently simple machine learning task. One of my favorite examples is house price predictions: I tell students that they need to develop an algorithm to predict the future sale price of a house and ask them to consider what features to use.
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