Up-to-date data on the local real estate market will be made available to consumers following the signing of a memorandum of understanding (MoU) between Z1 Data Co LTD and US firm theDevMasters.
Speaking during the MoU signing ceremony on Wednesday, Z1 Data partner and director Hoem Seiha said the local property sector is performing well and become increasingly complex. Adopting the latest technology has become essential for an efficient workflow.
This, he said, has led to the development of large-scale artificial intelligence (AI) in the real estate sector, which makes high-quality data available and increases investors’ confidence. The data helps the user analyse past, current and future trends, Seiha pointed out.
“AI makes everything faster and enhances the efficiency of the trading process,” he said.
Z1 Data is a subsidiary of VTrust Appraisal Co Ltd.
Seiha said that with the help of theDevMasters, Z1 Data will make accurate real estate data available to the Cambodian consumer by the end of the year.
“We will officially launch our database on the local real estate sector by the end of 2020. This data will be accessible to all customers,” he said.
The database, powered by state-of-the-art AI, will prove useful to operators, property owners, dealers, and the government.
Seiha did not provide details on the cost of using the upcoming database.
theDevMasters specialises in providing training on data science, machine learning, and other technologies and tools to meet the needs of the real estate market, said CEO Arshad Khan.
“The fast growth of the Cambodian real estate market is one of the reasons theDevMasters decided to work with Z1 Data,” he said.
theDevMasters is a subsidiary of GBCS LLC, a data consulting firm that uses AI. The company was established in 2012 under the name Codecamp5.