The paper aims to provide a comprehensive analysis of artificial intelligence’s (AI) transformative impact on the real estate industry. By examining various AI applications, from…
Abstract
Purpose
The paper aims to provide a comprehensive analysis of artificial intelligence’s (AI) transformative impact on the real estate industry. By examining various AI applications, from property recommendations to compliance automation, this study highlights potential benefits such as increased accuracy and efficiency. At the same time, this study critically discusses potential drawbacks, like privacy concerns and job displacement. The paper's goal is to offer valuable insights to industry professionals and policy makers, aiding strategic decision-making as AI continues to reshape the landscape of the real estate sector.
Design/methodology/approach
This paper employs an extensive literature review, combined with a qualitative analysis of case studies. Various AI applications in the real estate industry are examined, including machine learning for property recommendations and valuation, VR/AR property tours, AI automation for contract and regulatory compliance, and chatbots for customer service. The study also delves into the optimisation potential of AI in building management, lead generation, and risk assessment, whilst critically discussing potential challenges such as data privacy, algorithmic bias, and job displacement. The outcomes aim to inform strategic decisions for industry professionals and policy makers.
Findings
The study finds that AI has significant potential to revolutionise the real estate industry through enhanced accuracy in property valuation, efficient automation and immersive AR/VR experiences. AI-driven chatbots and optimisation in building management also hold promise. However, this study also uncovers potential challenges, including data privacy issues, algorithmic biases, and possible job displacement due to increased automation. The insights gleaned from this study underscore the importance of strategic decision-making in harnessing the benefits of AI while mitigating potential drawbacks in the real estate sector.
Practical implications
The paper's practical implications extend to industry professionals, policy makers, and technology developers. Professionals gain insights into how AI can enhance efficiency and accuracy in the real estate sector, guiding strategic decision-making. For policy makers, understanding potential challenges like data privacy and job displacement informs regulatory measures. Technology developers can also benefit from understanding the sector-specific applications and concerns raised. Additionally, highlighting the need for addressing algorithmic bias and privacy concerns in AI systems may foster better design practices. Therefore, the paper's findings could significantly shape the future trajectory of AI integration in real estate.
Originality/value
The paper provides original value by offering a comprehensive analysis of the transformative impact of AI in the real estate industry. Its multi-faceted examination of AI applications, coupled with a critical discussion on potential challenges, provides a balanced perspective. The paper's focus on informing strategic decisions for professionals and policy makers makes it a valuable resource. Moreover, by considering both benefits and drawbacks, this study contributes to the discourse on AI's broader societal implications. In the context of rapid technological change, such comprehensive studies are rare, adding to the paper's originality.
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The aim of this Real Estate Insight is to comment upon the UK leasehold system, particularly focussing on new-build homes. This paper sheds light on the controversy surrounding…
Abstract
Purpose
The aim of this Real Estate Insight is to comment upon the UK leasehold system, particularly focussing on new-build homes. This paper sheds light on the controversy surrounding this practice, public perception and the impact of a proposed ban on the housing and the impact, thereof, on property investment.
Design/methodology/approach
This Real Estate Insight, through the lens of investment principles, dissects the rationale behind the initial pricing in the leasehold system and how potential future costs and benefits shape this mechanism. The nature of the “Insights” briefings means that this is a personal view of the author.
Findings
With the recent outcry over perceived unfair practices, the paper scrutinises whether the problem lies within the system itself or in the consumers' comprehension of the system. This paper suggests that enhancing consumer education and imposing stricter disclosure requirements might serve as a more effective solution than outright legislative prohibitions.
Practical implications
The paper also briefly touches upon the concept of “gouging” in market function, highlighting potential inconsistencies in consumer behaviour.
Originality/value
This is a review of the UK leasehold market in relation to the legal title being offered at purchase.
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Vivek Sah and Philip Seagraves
The purpose of this paper is to consider the operating performance of real estate investment trust initial public offerings (REIT IPOs) as a measure to find additional evidence of…
Abstract
Purpose
The purpose of this paper is to consider the operating performance of real estate investment trust initial public offerings (REIT IPOs) as a measure to find additional evidence of market timing in this sector.
Design/methodology/approach
A sample of REIT IPOs is analyzed to determine the relationship between IPO clustering and several measures of REIT operating performance.
Findings
The results suggest that timing the market by marginal firms in the REIT sector would be difficult, due to the transparent nature of REITs, leading to lower level of informational asymmetry between REIT managers and investors. Consistent with results found for non‐REIT firms in industry clusters, no evidence was found of a significant difference between the operating performance of REITs which are part of an IPO cluster and those that went public outside of the identified cluster periods.
Practical implications
This study shows that REIT market is efficient and would not allow REIT managers to time the market.
Originality/value
Using stringent measures of identifying REIT IPO clusters and operating performance as a measure to gauge market timing, this study differs from previous studies and provides additional and robust evidence of transparent nature of REITs that leads to reduced information asymmetry between managers and investors. This result supports the theory that REITs are more transparent and thus less likely to be over‐invested during IPO cluster periods.
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Two simple instruments for obtaining transient response from the frequency response in a vibrating system have been made available by Costain‐John Brown Ltd., Instrumentation…
Abstract
Two simple instruments for obtaining transient response from the frequency response in a vibrating system have been made available by Costain‐John Brown Ltd., Instrumentation Division, Roxby Place, Seagrave Road, Fulham, S.W.6. They consist respectively of Cosine and Sine cursors engraved on transparent plastic sheet, and are used in conjunction with special graph paper, on which the observed function is plotted. The method and its derivation arc described in a paper ‘An Approximate Method for obtaining Transient Reponse from Frequency Response’ by H. H. Roscnbrock, Proc. Inst. Elec. Engs., Vol. 102, Part B, No. 6, November 1955.
Nieky van Veggel and Philip Howlett
The purpose of this paper is to review the literature with regard to the course leader in small and specialist higher education in the UK.
Abstract
Purpose
The purpose of this paper is to review the literature with regard to the course leader in small and specialist higher education in the UK.
Design/methodology/approach
First, the role of the course leader is explored, followed by an evaluation of the barriers to effective course management. This is then followed by a discussion of mitigating solutions to the barriers identified. Course leadership is then reviewed in the context of small and specialist higher education. Finally, areas for future research are suggested.
Findings
Course leadership in the UK is a role with wide ranging responsibilities, but is under-appreciated by the higher education sector. Various barriers have been identified, and some solutions proposed, in the literature, but problems remain.
Originality/value
Course leadership is an underappreciated area with little academic literature available, even though issues have been reported since the 1990s. This paper critically evaluates and summarises the issues, and shows that they are still current. It also proposes solutions and areas of further research so that issues can be resolved for betterment of the higher education sector.
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How should your company respond to the complex competitive challenge of declining demand? The model described here can increase your prospects of success.
Examines how the collision of neo‐liberalism and regionally specific social forces have created a specific manifestation of community based policing. The merger of neo‐liberalism…
Abstract
Examines how the collision of neo‐liberalism and regionally specific social forces have created a specific manifestation of community based policing. The merger of neo‐liberalism and community policing has taken place under common conditions of downsizing, fiscal downloading and organizational restructuring. These conditions have not, however, led to a consistency of application. The political, economic and social variables differ across regions, as do the stimuli for reform and the manner in which community policing has been implemented. As a result, each region has uniquely articulated the neo‐liberal tenet of community involvement in community based policing. This range of reform initiatives is examined first from the perspective of broad RCMP organizational shifts and then within the context of Alberta (K‐Division).
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Few regret the passing of an old year, with its darkening days and cold nights, its message fading as the voice weakens. A new year always looks more attractive with hopes of…
Abstract
Few regret the passing of an old year, with its darkening days and cold nights, its message fading as the voice weakens. A new year always looks more attractive with hopes of better things to come, but an occasional look back over one's shoulder, as it were, is seldom completely without profit, for experience can sometimes be more potent than hope. 1968 seemed to have more than its share of uncertainties, tragedies and disasters, in this country and in the world at large. An unsure economic state, to say nothing of monetary confusion, was reflected in every field of industry and public administration, but in the field of food quality and purity control, steady progress towards a comprehensive system of food standards, of hygiene and of food additive control was maintained. In fact, the year may be seen as not an entirely unfruitful one, with one or two events which may well prove to be landmarks.
This paper aims to examine the impact of the Labor Management Reporting and Disclosure Act (LMRDA). It is expected that returns would have increased in response to the law’s…
Abstract
Purpose
This paper aims to examine the impact of the Labor Management Reporting and Disclosure Act (LMRDA). It is expected that returns would have increased in response to the law’s passage, as it imposed a number of restrictions on unions vis-à-vis management and instituted many rules regulating unions’ internal affairs.
Design/methodology/approach
This paper uses event study methodology, which examines the impact of the law’s passage on the shareholder returns to the firms likely to have been affected by the law. Three different samples are used. Shareholder returns are examined on critical dates associated with the passage of the law to assess whether it benefited the firms in the samples.
Findings
Shareholder returns to firms expected to have been affected by the LMRDA fell in comparison to their competitors’ returns, indicating that the law was viewed by investors as being beneficial for firms. Presumably, the restrictions the law placed on unions were judged to be more important by investors than the improvement in unions’ image that might have resulted from the law, indicating that the law benefitted firms.
Originality/value
This is the first paper that has examined the impact of the LMRDA empirically to assess its impact on firms.
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In the last‐issued volume of his monumental History of the Novel, Dr. E. A. Baker remarks that librarians do not expect to be thanked for their services and then…
Abstract
In the last‐issued volume of his monumental History of the Novel, Dr. E. A. Baker remarks that librarians do not expect to be thanked for their services and then, characteristically, proceeds to thank some dozen or so. Whatever our expectations are, we are none the less appreciative when a writer does express his debt; it helps us, it justifies our work. Few tributes of late have been more graceful than this paid by Mr. J. D. Griffith Davies in his useful and attractive Honest George Monk, which has lately come from Mr. John Lane: “What I should do without the kindly help of my friend, R. J. Gordon, Librarian of the Leeds Public Libraries, I really don't know. Like some fairy godmother he produces for my use the rarest books; and his keen personal interest in all forms of research, and the unfailing courtesy of his colleagues, makes the Reference Library at Leeds one of the homeliest places for work.” It is worth while to compare the expression here with the words Mr. Berwick Sayers has written at the end of his preface to the 1937 edition of Brown's Manual.