David Kroon, Research Engineer at Ortec Finance’s R&D Labs to speak about Machine Learning in Automated Valuation Models at World Summit AI on November 12.
In the Netherlands alone, over 7,000,000 properties are appraised yearly and over 45,000 mortgage applications are evaluated monthly. At Ortec Finance, we have a long history of developing industry-leading automated valuation models, providing the tools to deliver these services. Our models have traditionally been econometric models, but recently we have expanded our toolbox by including machine learning as well.
In cooperation with 25 municipalities in the Netherlands, including Amsterdam, we have developed a machine-learning model, harnessing the flexibility of machine-learning algorithms to tap into additional sources of information. This includes features available for only a subset of the samples in our data. In our presentation at World Summit AI, we will share our results, discuss challenges we encountered, and present our solutions.
Findings and experiences from this Dutch originated initiative are expected to be equally relevant for other countries.
More info on the World Summit AI can be found here. For more info on this model, contact David.