Transforming Property, Energy, and Urban Living: Today's Innovations in Data and AI
Published: 2024-09-17Welcome to today’s Daily Open Data Digest. Here, we talk about new changes in open data, AI, and digital transformation that are helping to create a better future for everyone.
The property market is changing a lot, thanks to the Open Property Data Association (OPDA) and companies like PEXA. The OPDA survey, which includes 30 member firms like Atom Bank and Kotini, gets feedback from thousands of homebuyers and sellers. This feedback helps make the homebuying process easier. By digitizing property data from places like the Land Registry, OPDA has cut the average completion time from 22 weeks to just 15 days. The survey results, due by September 30, will help create a report to make the process even better.
Angela Hesketh, Head of Market Development UK at PEXA, explains how their digital platform brings together conveyancers, lenders, and other stakeholders in a safe, collaborative space. This platform automates settlement processes, works with the Land Registry, and supports wider digitization efforts. This makes property transactions more secure and clear. PEXA’s use of ISO 20022 for better payment security is another step towards a more efficient and trustworthy property market.
In the energy sector, SLB has launched the Lumi™ data and AI platform. Lumi integrates advanced AI, including generative AI, with workflows across the energy value chain. Lumi improves data access, collaboration, and decision-making, supporting AI adoption on a large scale. Available on major cloud providers and on-premises, the platform is built on industry standards and meets NIST cybersecurity standards.
Lumi also improves SLB’s Delfi™ platform, making reservoir modeling and operational efficiencies better. By changing data-driven decision-making, operations automation, and real-time optimizations, Lumi promotes high-value, low-carbon operations, contributing to a more sustainable energy future.
Government agencies are increasingly using AI, balancing risks and opportunities. In Washington, D.C., Stephen Miller, the acting chief technology officer, says the city is ready to use AI ethically and transparently. The AI chatbot DC Compass helps residents navigate open data, ensuring fair access and transparency. Experts like Mia Hoffmann and Aaron Wilkowitz note varying levels of readiness across agencies. OpenAI’s collaboration with the National Institute of Science and Technology for AI safety research highlights the importance of responsible AI use.
Paris and Milan are leading the way in achieving the “15-minute city” concept, where residents can access essential services within a 15-minute walk or bike ride. A global study found that while many city centers meet this goal, there are differences between wealthy inner areas and outskirts. The concept, which became popular during the Covid pandemic, faces online conspiracy theories but remains a step towards better urban living. Population density is crucial for success, with European cities generally doing better than car-dependent U.S. cities.
Today’s advancements in open data, AI, and digital transformation pave the way for more efficient, transparent, and sustainable systems in property transactions, energy operations, and urban living. As we continue to embrace these innovations, we move closer to creating a better world for future generations.
Stay tuned for more updates in our next edition of the Daily Open Data Digest.
https://www.mortgagesolutions.co.uk/news/2024/09/17/opda-launches-homemover-survey-to-gauge-digital-data-awareness/Related news on 2024-09-17
- technical.ly: DC government can safely use AI , says city CTO
- mortgagesolutions.co.uk: OPDA launches homemover survey to gauge digital data awareness
- mortgagestrategy.co.uk: Pioneering a secure and collaborative future in united kingdom conveyancing – Mortgage Strategy
- businesswireindia.com: SLB launches AI - powered Lumi platform
- menafn.com: Where In The World Is Closest To Becoming A 15 - Minute City ?