The Role of Artificial Intelligence in Valuation Processes is Growing

The application of artificial intelligence (AI) across various sectors is rapidly expanding. One of the most notable and impactful uses of this technology is being observed in the field of valuation. Experts say that the integration of AI significantly increases both the accuracy and objectivity of valuation processes.

Chairman of the Azerbaijan Society of Appraisers (AQC), Vugar Oruc, stated that artificial intelligence and automated valuation systems are already leading to major transformations in the industry. According to him, while traditional valuation methods often relied on limited information and personal expertise, today's technologies make it possible to conduct more precise analyses through access to vast databases, satellite imagery, and visual algorithms.

“Artificial intelligence is reshaping the role of the appraiser. Now, the appraiser is not just someone who inspects a property in person, but a professional who makes decisions based on comprehensive analyses provided by AI,” said Vugar Oruc.

He also noted that these technologies enable access to detailed information about economic and social factors in the area where the property is located, as well as data on comparable properties, infrastructure, and other relevant indicators. This contributes to more informative and balanced valuation results while reducing subjectivity caused by the human factor.

According to the AQC chairman, the application of AI is not limited to real estate valuation alone but will also play an important role in the country’s overall economic policy: “Valuation outcomes have a direct impact on various fields, from tax policy to the investment climate. In this regard, the accuracy and transparency brought by AI are extremely important.”

Vugar Oruc concluded that in the coming years, the widespread implementation of automated valuation systems is expected to bring about fundamental changes in the valuation sector.