The role of property data in the future

UTAR Faculty of Accountancy and Management organised a talk titled “Property data: Its role in the future for property professionals” on 9 August 2023 at Sungai Long Campus. Invited to give the talk was Emeritus Prof Dr Alfred Christopher Eves from RMIT University, School of Property, Construction and Project Management.

Emeritus Prof Alfred began the talk by sharing an introduction about himself. He explained that, in property, it all boils down to how one collects, analyses and interprets data. He also did a comparison on how the technology has changed over the years.

Emeritus Prof Alfred then went on to explain each component in emerging and developing technology, which included Blockchain, Proptech, Fintech, Mixed reality, Metaverse, Cyber security and A.I (Artificial intelligence). He also mentioned that cyber-attacks have become more common and sophisticated nowadays with the emergence of technology.

Next, Emeritus Prof Alfred started explaining A.I and machine learning. He mentioned that machine learning can analyse historical sales data and other relevant factors such as demographics, location, size and amenities to predict the value of a property. Emeritus Prof Alfred then informed the audience to be careful as A.I can sometimes make mistakes. He also mentioned that A.I considerations such as data privacy, bias in algorithms and also A.I techno adoption could widen the digital divide. Emeritus Prof Alfred ended his talk after a Q&A session.

Head of Department of Building and Property Management Sr Amalina binti Azmi presented a token of appreciation to Emeritus Prof Alfred.

Students asking questions during Q&A session

Fourth from left: Emeritus Prof Alfred with participants

Sr Amalina (left) presenting a token of appreciation to Emeritus Prof Alfred