GMS clients in the technology sector recognize the positive aspects that relocation artificial intelligence can provide to their organizations. These clients operate on the cusp of technological innovation. As a result, many are actively working on innovative solutions that use computers to perform tasks that usually require human interaction. Their industry experiences provide real world examples that the relocation industry can leverage to improve many processes.
What is Relocation Artificial Intelligence?
Artificial intelligence (AI) can represent many different concepts and approaches. Ultimately, AI is the process whereby a machine can:
- Learn from what it experiences on its own
- Make adjustments based on its receipt of new inputs
- Perform tasks that mirror those performed by humans
These AI-capable machines often must process natural language patterns and utilize “deep learning.” In computer parlance, deep learning can be described as the creation and use of a large network of neurons by way of computers. This network can process a large amount of data. Deep learning is thus very similar to how human brains work. There are online certification courses and helpful resources related to Deep Learning Algorithms.
AI Developers can use computers with large amounts of data to train these large networks to respond and act similar to how humans would respond and act. Therefore, relocation artificial intelligence is the use of AI-capable machines to perform tasks usually performed by humans during a new hire or transferee relocation.
How Might Relocation Artificial Intelligence Impact Industry Processes?
Several industry processes might be impacted by the application of AI-capable machines. Processes that might change due to relocation artificial intelligence include those that require repetition of a task or a set of tasks following a specific set of rules, guidelines, and definitions.
The top 3 industry processes that might be impacted by AI include:
1. Moving Cost Estimating
Yembo has implemented AI into their moving cost estimating program. The company’s technology utilizes deep learning and robotics algorithms. This allows the program to recognize household goods, count them, and compile the information into a cost estimate. Users only need access to a mobile web browser to access the platform. The technology calculates results including percentage estimates for accuracy based on its visual perception.
2. Real Estate Appraisals
Appraisal uses AI to create a specific formula that allows the company to predict property values and then convert these values into accurate pricing. Their focus is on removing margins of error and guesswork from property valuations and forecasts for prices. As a result, this type of relocation artificial intelligence will greatly enhance pricing decisions.
3. Mortgage Loan Initiations
Black Knight launched Digital Point of Sale, an AI-powered solution that is integrated with the company’s Empower® loan origination system. The solution leverages the company’s artificial intelligence virtual assistant, “AIVA.”
What Does This Mean?
Relocation artificial intelligence is already in place for several industry processes. Many industry suppliers are leveraging AI to automate a number of tasks. Automation for repetitive tasks and processes will help reduce errors. Also, it will allow companies to focus on providing greater value in those areas that are not repetitive.
What Should Employers do About Relocation Artificial Intelligence?
Employers should work with a qualified and experienced Relocation Management Company (RMC). RMCs will have knowledge that can assist companies in understanding how processes that utilize AI can help their relocation program. They can also share recommendations and guidelines in case studies to ensure results meet expectations as well as increase new hire and transferee satisfaction.
GMS’ team of corporate relocation experts has helped thousands of our clients enhance their relocation programs through innovative technology solutions. Our team can help your company understand how relocation artificial intelligence in different processes can provide a wide range of benefits.
GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
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Contact our experts online to learn more about relocation artificial intelligence, or give us a call at 800.617.1904 or 480.922.0700 today.
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