Adding to the chorus, but I would have to say yes. Like you, I have hardly any background in ML, so I'm just going off of what our ML team presented to my team (since we're the ones on the front lines with customers)...
In the real estate world - I think there is honestly just too much data for a human to go through. Our company was estimating how long we think it would take a house to sell, and were training the ML model based on local historical data. Going through all of that data, for what I think was the past 30 years, and then making an estimation for every property? No way a human could keep up. The accuracy compared to a human estimation I can't really speak to, but with how quickly the real estate world moves, speed is the number one here.
I'd be interested to hear other takes on specific industries. Are there any that you guys work in that you feel humans>ML?
jmshipyard t1_j2zhf7p wrote
Reply to [Discussion] If ML is based on data generated by humans, can it truly outperform humans? by groman434
Adding to the chorus, but I would have to say yes. Like you, I have hardly any background in ML, so I'm just going off of what our ML team presented to my team (since we're the ones on the front lines with customers)...
In the real estate world - I think there is honestly just too much data for a human to go through. Our company was estimating how long we think it would take a house to sell, and were training the ML model based on local historical data. Going through all of that data, for what I think was the past 30 years, and then making an estimation for every property? No way a human could keep up. The accuracy compared to a human estimation I can't really speak to, but with how quickly the real estate world moves, speed is the number one here.
I'd be interested to hear other takes on specific industries. Are there any that you guys work in that you feel humans>ML?