Hi I’m Jay an HR Intern here at Bukit Vista, and over these past months I was fortunate enough to see students from the NTU PEAK program arrive at our base, inspect the current business problem we’re facing, and offer innovative solutions. Without further ado, here is their story!
In an era where real estate transactions are no longer confined to traditional methods, the importance of making informed property purchases has taken center stage. From market volatility, long-term commitment, large investments, and regulatory matters, making the right property investment decision can be a complex process. In this landscape of choice and complexity, a Nanyang Technological University (NTU) PEAK Team embarked on a journey to redefine the property evaluation process. With their innovative solution, DesignIQ, they aimed to empower potential buyers to navigate the intricate world of real estate with confidence and precision.
The Dynamic Team Behind the Innovation
A group of creators known as Lazylions is at the core of the innovative DesignIQ. Brandon Chua Wei Long, Sheikh Sulaiman, Peh Ko Hsu, Ling Jia Kang, Rohith Ravichandran, and Zafirah Haezah Hazrati Muftin are among the talented members of this group. Each team member brings a unique set of abilities to the table, resulting in an amazing solution that was exhibited with creativity at the Bukit Vista Bali Base.
Unveiling the Problem and Proposing a Solution
The team broke down the key difficulty in property purchases: the requirement for trustworthy and impartial property evaluation, in a fascinating presentation that embodied months of commitment. Traditional procedures, which are frequently influenced by historical prejudices and manual grading systems, have produced inconsistencies. Enter DesignIQ, a cutting-edge technology powered by Convolutional Neural Networks (CNN). This innovative technique not only solves the issue of subjectivity, but also reimagines the entire property assessment landscape.
Deep Dive into DesignIQ’s Architecture
As they delved into DesignIQ’s detailed architecture, the team’s acute comprehension of both the real estate domain and machine learning came through. They emphasized the critical parameters of ranking potential through a thorough analysis—sustainability, money production, and drawing more traffic. The critical responsibilities of design grade, location grade, and product user fit were methodically highlighted, emphasizing their importance in real estate valuation. This extensive study demonstrated not only the team’s understanding of the intricacies, but also their mission to develop a comprehensive solution.
Prototyping and the Quest for Precision
Undaunted by the complexity, the team dug into the world of Convolutional Neural Networks (CNN), starting with the development of an initial prototype based on the VGG16 model. Even though its shortcomings were obvious, this prototype demonstrated the potential of their method. The failure of the VGG16 model to manage the intricacy of property gradings indicated the need for further innovation. This was not a small diversion, but rather a crucial milestone that drove the team’s resolve to develop a perfected answer.
Evolving DesignIQ: Overcoming Limitations
The presentation not only highlighted but also questioned DesignIQ’s potential. The team’s honesty came through as they highlighted their creation’s limitations—historic subjectivity and the mobility of modern norms. Recognizing these problems demonstrated the team’s depth of knowledge and dedication to developing a comprehensive solution. The combination of past experiences and future flexibility via user input presented an excellent technique to overcoming the subjectivity-objectivity divide. This forward-thinking idea embodies creativity at its finest.
Impacts and the Road Ahead
DesignIQ’s effect reaches far beyond the confines of a presentation room. This breakthrough approach, as envisioned by the team, promises efficient property classification, enhanced decision-making, and user pleasure. DesignIQ’s competitive advantage in the property industry represents not only innovation but also empowerment. The ambition goes beyond the immediate effects to a future in which DesignIQ changes the property environment, encouraging a larger, more dynamic competitive market and inspiring continuing advances in property assessment methodologies.
The NTU team’s final presentation demonstrates the power of teamwork, competence, and invention. Their path from recognizing the problem to offering an innovative solution has established a new standard in property evaluation. The combination of machine learning, real estate expertise, and various talents proves that technology can alter sectors in the hands of dedicated brains. While the echoes of their presentation fade, DesignIQ’s impact will live on in the realm of property evaluation, reminding us of the potential that exists at the convergence of knowledge, determination, and invention.