According to a recent report by market intelligence firm Tractica, the global market for artificial intelligence (AI) is set to reach $118.6 billion by 2025, up from just $9.5 billion in 2018, but the housing industry has been relatively slow to adopt AI solutions.
Startups Arx and Madelon aim to change that by leveraging technology to drive affordable housing solutions. Both are finalists for the 2023 Ivory Prize for Housing Affordability, which awards innovators for their efforts and provides support to further advance their projects.
"Arx and Madelon are prime examples of how AI is being used to address the affordable housing crisis," said Kent Colton, chairman of the Ivory Innovations Advisory Board. "Their innovative approaches to optimize site selection, automate the pre-development process, and integrate modular construction methods are noteworthy for the industry."
Arx is using AI and machine learning to optimize site selection and underwriting for developers and investors. ...
Madelon is focused on productizing and democratizing development by utilizing technology to facilitate the analysis, design, and development of infill multifamily residential projects through their REDtech software platform. ...
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