Our Sales & Marketing Power Hour (SMPH) recently explored how artificial intelligence, including ChatGPT, is transforming the new home sales and marketing industry.

Hosts Carol Morgan with Denim Marketing and Kimberly Mackey with New Homes Solutions were joined by a special guest panel of AI experts: Bassam Salem, founder of Atlax RTX, John Lee, CEO of Anewgo, Patrick Murphy, CEO of Maket, and Will Zhang, CEO of Open House.ai.

Here are some of the topics we explored:

Exploring AI’s Impact: From Fiction to Reality and its Future in Various Industries

Artificial Intelligence is no longer just a concept from science fiction movies like “The Matrix.” It has become integral to our daily lives, driving innovation and transforming industries. Our panel discussed AI’s capabilities and limitations, the differences between AI in reality and sci-fi movies, and how AI impacts various fields and job types, especially as it relates to homebuilding and development.

Understanding AI’s Capabilities and Limitations

Today’s AI technology has made significant strides in understanding language and providing creative solutions. However, experts like Elon Musk have expressed concerns and called for a pause in AI development. The primary concerns include AI’s potential to replace jobs and decision-making capabilities, especially in high-stakes situations. Another concern is confidentiality and protecting company privacy.

Despite its rapid advancements, AI still has limitations. There’s a distinction between “strong” and “weak” AI. Strong AI can perform a wide range of tasks, while weak AI is designed to solve specific problems. For example, AI in today’s context is still considered weak AI, designed to predict and produce text that fits user expectations.

The Impact of AI on Job Types

AI is undeniably transforming various industries and job types, from creative and knowledge workers to construction and production jobs. While some fear AI will replace human jobs, others argue that it will help automate tasks people don’t want to do, freeing them up to focus on more creative and strategic tasks.

For instance, AI can generate initial drafts or outlines for content, but it cannot replace the creativity, strategy, or understanding humans bring to the table. AI can be a creative assistant, helping professionals brainstorm ideas and solve problems more efficiently.

The growth of AI technologies like ChatGPT has significantly impacted online sales counselors (OSC). AI helps OSCs manage increased volumes of requests, freeing up humans to focus on more strategic tasks. AI enhances customer experiences by providing instant responses and personalized assistance around the clock. Humans don’t want to be online answering questions 24/7, so this is an excellent way to field initial homebuying inquiries.

Open Source vs. Closed Source AI

As AI continues to evolve, it’s essential to consider the pros and cons of open-source and closed-source AI. Open-source AI, such as ChatGPT, allows for greater collaboration and innovation, while closed-source AI offers more control over the technology. By embracing open-source AI, we can decentralize power and empower users, allowing domain experts and guardians to guide AI’s development and implementation.

The Evolution of AI Interfaces

Currently, AI interfaces are predominantly text-based, but they are gradually transitioning to vocal interfaces. This shift will make AI more accessible and user-friendly. However, ensuring that AI maintains high accuracy is crucial, especially in regulated industries where precision is vital.

Creative Uses of AI: ChatGPT and Beyond

AI’s creative applications are vast, spanning various industries and processes. From generative tools that enable sales professionals to become marketers to AI-driven zoning code navigation, AI helps professionals become more versatile and serve their customers better. AI-powered technologies, like ChatGPT, can even be used to optimize routes for ride-sharing services or predict delivery needs for e-commerce platforms.

Compression of the Sales & Marketing Funnel

The proliferation of AI technologies like ChatGPT is compressing the sales and marketing funnel, allowing Realtors to create their own marketing content and engage with leads earlier in the sales process. On the consumer side, AI helps users navigate numerous websites and find the most relevant information quickly and efficiently. AI serves as a virtual assistant for buyers and sellers, making the overall experience more enjoyable and practical.

AI’s Effect on Web Searches and Websites

AI’s growing presence has implications for home builder searches and websites in the short and long term. Website builders should start preparing for an AI-driven future by adapting their websites. Furthermore, it’s crucial for professionals to “seed the cloud” with valuable, relevant, and easily accessible content that AI systems like ChatGPT can discover and reference. This shift in focus requires professionals to place less emphasis on creating visually appealing websites and more on providing meaningful and valuable information to their customers and the AI systems that serve them.

Showcasing AI in Real-World Products

Companies increasingly incorporate artificial intelligence into their products and services, from marketing tools to real estate platforms. These AI-driven solutions enable professionals to accomplish tasks more efficiently and creatively, offering enhanced value to end consumers. As artificial intelligence develops, expect more AI-powered tools and applications to emerge in the coming years.

Conclusion on Where this is Going for Home Builders

The rise of AI technologies such as ChatGPT is significantly changing the landscape for onsite agents, marketers and builders. To adapt, these professionals must adopt a multichannel approach to reach customers and cater to the AI systems’ preferences and interests. Building a solid community and engaging customers across multiple platforms will be crucial to stay relevant and visible in this new era.

As AI becomes increasingly integrated into our daily lives, professionals in various industries must embrace this new technology and learn to leverage its benefits to stay ahead of the curve. In doing so, they can provide more tailored and efficient services to their customers, transforming how we live and work profoundly. The future of AI in real-world products and services holds great potential, and those who can adapt to these changes will be better positioned to succeed in this brave new world.