Aloft, a company specializing in real estate appraisal technology, recently unveiled a development in its artificial intelligence (AI)-driven image analysis. Embedded in Aloft’s signature software product, Appraiser Toolkit, this feature marks an advancement in the standardization of quality and condition ratings in appraisal reports, according to a press release.
Adding the new feature to Appraiser Toolkit represents a milestone for Aloft, according to the company, demonstrating its ongoing commitment to cutting-edge technology that advances the appraisal industry.
By providing recommended Uniform Appraisal Dataset (UAD) quality and condition ratings, Aloft said the math engine of Appraiser Toolkit simplifies the comparison process between comparable properties and the subject property, offering one-click analysis that was previously unavailable.
The development of this feature was showcased by Aloft Chief Appraiser Hansel Dobbs in McKissock’s Pro Series Webinar earlier this month. Dobbs highlighted the practical applications and benefits of this AI-driven tool in real-world appraisals.
The AI-driven image analysis feature automates image analysis of both subject and comparable properties, providing appraisers with accurate, data-driven recommendations for UAD quality and condition ratings, significantly reducing analysis time and potential for error.
“This is a game-changer for real estate appraisers,” Avi Joshi, Aloft’s head of product, said in the release. “It embodies our dedication to innovation and our commitment to empowering appraisers with technology that simplifies their work, enhances accuracy, and saves time. We are proud to lead the way in integrating AI into real estate appraisal, setting new standards for the industry.”
“At Aloft, we are always looking forward to the future, seeking ways to advance the appraisal profession through technology,” Aloft CEO Travis Soukup added. “The launch of this AI-driven feature in Appraiser Toolkit is a significant step towards realizing our vision of a more efficient and reliable appraisal process. We are thrilled to offer this tool to our users and confident it will make a positive impact on their work.”