AppFolio has been granted a patent for a leasing AI platform that uses machine learning to automatically respond to real estate management requests. The platform generates a token matrix from messages, identifies actions, and executes them without human intervention. GlobalData’s report on AppFolio gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on AppFolio, AI for workflow management was a key innovation area identified from patents. AppFolio's grant share as of May 2024 was 43%. Grant share is based on the ratio of number of grants to total number of patents.
Automated real estate management using ai and machine learning
A recently granted patent (Publication Number: US11948187B2) outlines a method for real estate management activities using machine learning technology. The method involves receiving a message with a request, generating a token matrix representing the message, inputting it into a trained machine learning model to identify the message's category, and automatically executing actions related to the request without human involvement. The system includes a processing device, memory device, and instructions to carry out these functions, ensuring efficient handling of real estate management tasks.
The patent details the process of categorizing messages, such as requests for information on real estate units or maintenance, using a convolutional neural network and token matrices. It also highlights the training of the machine learning model with a dataset of real estate management messages to accurately identify categories and execute appropriate actions. Additionally, the system can integrate with calendar programs, property management platforms, and legal databases to enhance its functionality. Overall, this patented technology streamlines real estate management processes by automating responses to client requests, scheduling viewings, qualifying prospects for leases, and handling maintenance tasks, ultimately improving operational efficiency and customer service in the real estate industry.
To know more about GlobalData’s detailed insights on AppFolio, buy the report here.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
