Every day we hear that artificial intelligence is going to
change the future of our world.
But what does that really mean?
Well, in today's video, I have flown all the way
to London, England to meet the CEO of the fastest
growing real estate company in the world, and incredibly, his
entire company is powered by artificial intelligence.
Now, much like the Internet and smartphones have changed every
facet of our lives, today, the future of AI promises
to do the same.
And whichever country, whichever company and whichever individual can harness
this power of artificial intelligence is going to have an
amazing opportunity in front of them.
This is why you see countries like China and the
United States working so hard to grow the future of
artificial intelligence.
It's also why microchips have become such a hot topic
in geopolitics.
In today's video, you're going to hear an incredible story
from an entrepreneur who built up an empire and left
it all behind because of the war in Ukraine.
He moved his company to Dubai, started again, and has
made a tremendous success and is truly changing the future
of real estate.
Today's video is so important because it actually shows us
what the power of artificial intelligence can do.
And I promise you, this is one of the most
unique interviews I have ever put on this channel.
And it is one that really will show you what
the power of AI can do for the future of
our world.
Without further ado, let's jump in the podcast studio and
meet Alex and the team from Realists.
I want to welcome you to central London.
I'm here with Alex Gold.
Alex, it is a pleasure to meet you in person.
Thank you for having me today.
Absolutely, thank you so much.
Well, everyone, we have an amazing discussion in store for
you today because the topic is artificial intelligence.
And Alex, we hear AI every single day of our
life.
And I think for many people though, they fail to
understand, you know, how does this really influence my life?
How is AI going to change my life?
But I think what's so fascinating, why I wanted to
come to London is I want to sit down with
you because you have developed an amazing software.
You have an amazing company that is the fastest growing
real estate company specializing in really utilizing AI.
So tell us a little bit more about artificial intelligence
and how it's really going to change the world in
our own lives.
Yeah, for sure, definitely it's going to change the world.
But the question is how fast?
So AI wave is so huge now, and it's happening
right now.
And I would like to say why it's so special,
what people can do with this, how people can understand
it faster and just, you know, to take it and
use it in a daily, daily basis.
First of all, we saw the two waves of technology,
Internet wave and it took 20 years from 1990 to
2008.
In 2008, the Internet had penetration rate of 95%.
So even now 5% of population in the world doesn't
have any access to Internet connection.
In 2008 to 2017, it was a wave of mobile
like smartphones and penetration rate 98% now.
So even people don't have Internet connection but they have
smartphones.
So AI wave started two years ago.
I have been working in AI eight years so far
before it was so popular, you know, and a bunch
of people worked in different verticals, like I've been working
on AI for real estate, like open AI worked for
LLM for text, you know, messages, etcetera, for language in
general.
So for now, in two years, penetration rate of AI
is already 25%.
It means that in 3-4 years it's going to be
9090 plus percent penetration rate.
And this thing is going to change everything, every life
in any business, literally.
And this is a time when and people can understand
it, take it, utilize it into business, into new start-ups
companies and use it and become rich first of all,
if they would like to become rich.
And unfortunately, a lot of businesses will go out of
the business very fast, very soon, and maybe millions of
people are going to lose their jobs and they will
have to, you know, find the new one the new
way.
That's how important this thing is.
And in real estate, I'm going to speak about the
real estate, OK, because I'm an expert about it.
In real estate, first of all, what's happening now, for
example, And the big problem is solving right now.
Let me explain.
So I lived in Russia for quite all of my
life and because of the war with the crane, I
moved to Dubai and started a new business in Dubai.
And I wish I knew that Dubai is a wonderful
city for business, for living, you know, buying properties, etcetera.
But I had no idea once I lived in Moscow
because nobody existed.
I knew about Dubai, nothing in terms of tourists sand,
you know, somewhere that's all I knew.
But once I moved, I understood that I lost 10
years of my life for nothing.
You know, definitely there are a lot, a lot of
better places in the world that people just don't know
about it.
Previously we started this conversation, I showed you that the
most affordable location in London Barking exact price as and
the quality of real estate in this neighborhood is quite
not good, right?
And this is the exact price of real estate in
the center of Dubai or it's twice more expensive than
in Las Vegas, right?
And we spoke about it, that people literally who live
in London could sell their real estate in London, moved
to Las Vegas and buy two or three properties, the
same quality, rent out two of them and they can
do not work for the rest of their lives.
That's how geographical arbitrage is so important.
And residential real estate is, is, is a key because
we spent in residential real estates 80% of our lives.
That's right.
Yeah, we live, we, you know, we sleep in this
residential real estate, right?
And what kind of residential real estate you're going to
pick is going to treat your mind your whole life
for the next 5-10, fifteen years, right.
And once you picked not good.
And once you pick the city, the neighborhood, the real
estate, or you invested in the wrong real estate, it's
going to have impact on your life for the next
generation, right?
At least that's how it's important.
What's happening with AI?
AI, first of all, is uncovering the data across the
globe and make it so accessible in one click, in
one minute, you literally can ask AI for now, what
is the best place I can live in the world
for?
You know, I have an apartment in London and what
is the price for this apartment and what I can
get for the rest of the world better, better quality,
where I could find better prices, better taxes, etcetera.
And you don't need to analyze it in your in
your own.
You literally can get the answer in less than a
minute.
That thing is going to change everything.
So I predict that hundreds, millions of people are going
to move, yeah, in the next 17 years across the
globe.
Alex, I want to talk about that because very interesting.
I recorded an episode a couple of months ago and
we were talking with another fellow entrepreneur and we were
talking about the fact that in America, we have a
lot of the new, you know, Generation Z, the Gen.
Z, up to 50% of these young Americans are saying
that they now have an interest to leave the United
States and they want to seek these other opportunities around
the world.
And we're actually seeing this very big migration.
Like you said, a lot of people are moving and
I think a lot of opportunities are becoming available because
of this.
And this is really a fascinating thing.
And I really wanted people to understand, you know, a
tangible benefit of this AI that they could instantly see.
And I think you've put it up very, very clearly
here, right?
You can tell AI, Hey, I want to you know,
I live in London, this is the price for my
unit.
Where could I go in the world and essentially, you
know, find something comparable or maybe even find 2 properties
comparable And, and like you said, get into that investing
game where OK, now I live in one, but now
I have extra income and I can, you know, maybe
buy a second rental property.
There's a lot of opportunity that AI is presenting here
for sure, but it's much better to, you know, to
see how it works than just to speak about it
because literally people from now don't understand that it's happening.
It's already here, right?
Yeah.
What do you think if I'm going to show you
how it works?
Yeah, And we're going to go from this point, let's
do that because I want to show the audience here.
I want to show everybody exactly this amazing software and
place that everybody can see.
Perfect.
So first of all, my goal and the goal of
the company is to digitalize the whole world.
For now, I have 114 cities, the data from cities,
macroeconomic data, et cetera.
And 1:00, my goal is to digitalize 1000 cities in
the next three years.
So it's literally should be all major cities in the
world with all data about the real estate market, economic
data and different data.
Just to make sure that literally this is going to
be the choice of everything, not just limited choice.
Once you would like to speak with a Realtor, for
example in London, Realtor are going to say that London
is the best city in the world.
You need to invest.
It's in London.
You're going to speak with a realtor in Dubai and
you're going to see the same thing.
You know, Dubai is a wonderful place in the world.
So all about the real estate is so limited because
it's based on expertise of Realtors and people and by
default they are limited in terms of data and analysis,
right?
So this is something different.
Sell 114 cities and this is rating of cities for
now like real time.
So Monaco is the most expensive city in terms of
real estate in the world, right?
Hong Kong number second, right, Geneva, Singapore, Tel Aviv, London.
Sell in the United States Boston and San Francisco equal
average equal pricing.
We can have the system, like, for example, show me
the crime rating across the different cities and you're going
to see that Russell Helma, Abu Dhabi in charge of
Dubai literally are the most safety cities in the world
right now after this, Saudi Arabia, Medina, Switzerland and United
States, far, far away from the top of level.
We can have the system, for example, show me average
unit size.
And what do you think that what do you think
is the smallest average apartment in the world?
Apartments in the world, Alex?
My first guess would be New York City.
Now, I mean, that's that's the far away.
Yeah.
So maybe Hong Kong.
Hong Kong as well.
Yeah.
I used to live in Hong Kong.
Absolutely.
So data shows that the smallest apartments in the world
are in Russia.
Oh, wow.
In average.
Wow.
You're going to see like Tokyo, 586 feet.
OK.
Hong Kong's the same still a little bit less and
Moscow interesting even less Yeah so before we collected all
the data across the world, this kind of, you know,
stereotypes put ahead place so like Hong Kong single now
in Russia.
So the biggest country in the world has the smallest
average apartments in the world right So in general the
population of Russia lives not good, right right.
OK, OK.
Let's go just directly to the Dubai because Dubai is
the is the most digitalized city, right that we have.
So in Dubai the system shows you what's happening with
Dubai real estate market.
So it's it's growing right now dramatically.
And where is AI?
AI also makes for you forecasting.
OK, So what is going to be with the pricing
in the future based on current trends, market economics data,
local data, new infrastructure and demand supply ratio.
This is a kind of amazing thing because nobody has
done it before because all this data were was so
fragmented by different experts, different people across the globe.
And now it's all collected in one thing and it's
free.
So people now can get access to all these data
and more.
Let's what's happening with transactions, you literally can see how
many apartments sold last week and what's happening with trend
is going down or people starting to buy more, etcetera.
So you go to the layer down and see all
neighborhoods across the Dubai.
So if you have never been in Dubai, you literally
can use this thing just to understand the city in
half an hour, an hour.
Wow.
Whereas the most expensive locations and cetera work another system,
for example, if you are a real estate investor, what
neighborhoods I should pick for buying something and rent it
out?
So literally this is a percentage of net income from
rent, OK after service charge expenses.
So you don't need to calculate it in mind.
It's already here.
Wow.
So just easier so we can have the system different
stuff like show me the neighborhoods with the best access
to parks.
You told me about your why that it was kind
of big question about the greenery, correct?
Yeah, yeah, yeah.
So in Dubai, literally AI calculates the percentage of greenery
in each location and compare it with other locations.
So literally, it's easy to navigate, super fast and many
more incredible.
Real estate is approximately 200 parameters each piece of real
estate.
Real estate is not a commodity, right?
So that's why you need to build a lot of
layers of data, right, just to collect in one place.
And after, based on this, AI could make good predictions,
recommendations, etcetera.
But previously you need to put it in one.
Yeah.
So that's incredible.
Yeah.
Nobody has done it before.
So I decided to do it.
So yeah, I want to just share his personal story
because when my wife and I were looking for a
house in Vancouver, Canada, you know, this was not maybe
six years ago, so it wasn't too long ago.
But that process was very interesting because we had to
find a real estate agent.
Then we had to say, look, this is what we're
looking for.
We want good schools.
We want access to a park.
We want to have, you know, AB and C.
And yeah, I remember our real estate agent came by
with all of these print out papers and said, look
at this pace, look at this place.
And then we got in the car and we spent,
you know, 8 hours driving around all the city with
the little baby in the back seat.
And it was, you know, at the end of the
day, we saw four houses and none of them actually
met our requirements.
So it, you know, it was, it was a, it
was a lot of time that the realtor had spent
through looking the listings.
It was a lot of time for us, you know,
we spent a day and maybe saw five properties and
and then at the end of the day, we we
had, we were no closer to our goal than when
we started.
And so now you're telling me, I literally feel it.
Yeah, I feel the pain.
Yeah.
So, I mean, that's incredible though, that you can look
at a map of Dubai and, and, and because of
your software, you can you can immediately set up these
parameters.
OK, what?
You know, if I'm looking for investment, how much money
can I make off of this after I subtract my
expenses, if I want to be close to a park,
if I want to be close to the ocean.
And I think what's fascinating as well is it instantly
gives you a snapshot of the city and you see
all the different districts in the prices could be combination
of you or if you ask, you know, So what
we do, we digitalizing the real estate market from the
world level to city level, neighborhoods, level buildings, even apartments.
And AI makes prediction and estimation for each apartment in
the city.
And that's why so AI sees that this apartment has
a view, greenery, noisy zones, parks, schools, what is the
distance, right.
All these things.
So once you would like to ask AI, this is
my first priority.
Second, third, AI will do for your personal rating of
all real estate across the city and literally not just
across the city, but across the world.
Wow.
Let me show you further.
Yeah, of course.
Yeah.
So these are projects and we digitalize all developers projects
and in Dubai in general.
And this is rating of projects.
If you'd like to invest, if you're investor, this is
the ROI, the best ROI in the city, the number
two, number three.
So from the best one to to to the worst
one, we can have the system just super easy navigation.
I would like to invest.
I would like to invest for rent out.
Show me the rating and the system makes it real
time for you.
You put the budget that you have.
These are the best buildings in Dubai for buying something
can rent it out.
So the best ROI in your budget, 6.1% net, right?
So it's super easy, right?
Yeah.
And once you find something interesting in terms of building,
you click the building and you can see available apartments
right now in this building, like in the 21st floor
available apartment right now.
And you're going to see the view from this apartment
directly.
You can Click to this apartment and have a look
what's what is the price of this apartment, etcetera.
And this is a kind of magic.
That's why it's powered by AI.
There you see this historical price and the forecasting price
and forecasting price up to 3-4 years based on future
infrastructure, right.
What is coming in terms of events like for example
in 2030 is going to be the loop.
So this is going to be a kind of, you
know, 9093 kilometers radius across the Dubai where people can
cycling, you know, OK, interesting.
And this is going to be in the future and
AI highlights by this Rs green goods red bad, right,
right.
So bad it's shutting down Dubai for pandemic.
It's bad.
That's right yeah, that's right for the pricing good etcetera.
And also this forecasting based on the demand and supply
data and literally we can predict quite accurate what's happening
with the market because once you collect the data faster
than anybody else on the market.
So real estate market is quite slow.
If something happening, the real estate pricing are not going
down the next day as a stock market.
So there is a gap of 6 to 9 months
at least.
Even in 2008, the stock market crashed and the real
estate markets was falling down like nine months, right?
So it's kind of slow thing, right?
Let me show you one other same thing about AI
and how powerful this could be.
So in 2022 December, AI predicted that Dubai markets will
grow in price of 46 percent, 2023.
So the Dubai market grew not in pricing, but in
volume, sorry, in volume, 45.89%.
So the currency rate was 99.9%.
That's how EI could be so accurate sometimes.
And what we do, it's a prediction of the city
and neighborhood buildings, even apartments.
That's super easy, right?
Yeah.
And once you just pick some building.
You're able to see all infrastructure around that you asked
previously.
Let me show you how it works.
Need to wait a little bit.
So it just shows you all water zones around not
just what what infrastructure this building has now for now,
but what water zones are going to be in the
future.
OK, so it's kind of in next year's after next
year's.
So this AI downloading everyday floor plans, master plans, news
from medias, from you know, press releases of developers, etcetera
and digitalizing it in one place.
So all green spaces, AI even counts green spaces like
this, you know, right between the roads, right?
So yeah, for now AI use uses satellites and to
just very easy navigating and more and more about the
rent all this stuff, even the AI calculates recommends you
strategies for investment and calculates ROI for each apartment for
and calculates the best strategies for what you should do
once you would like to get the best ROI.
Should you rent it out or should you buy, hold
it and sell?
All these strategies are calculated by AI And once you
have some apartments already or villas or townhouses, this AI
works with residential only for now, because the residential is
the most valuable assets in the world, asset in the
world and it's so important for people, more important than
commercial real estate.
Yeah.
So once you have some assets, for example, this is
My Portfolio, my friends portfolio, I have apartments in Dubai
and Moscow divided by what assets was type, types of
apartment.
And this is a current balance.
So what is the real market price of My Portfolio
right now?
You're able to put information in about what assets you
have in across the globe, any city.
So for now it works in the four cities, but
in several months it's going to be access to any
city in the world.
You're going to get estimation for 10 seconds of your
residential real estate.
You're going to get explanation why it's not just a
black box.
It's going to be explanation why this, your apartment or
your house has a price like this.
And from the day one, you will be able to
track the price of your real estate daily.
That's how it's happening now.
It's like a stock market.
Yeah, yeah, absolutely.
And also you're going to get recommendation.
Should you sell this asset or should you hold it?
If you should, you sell it because the market is
going down, right?
You need to exit.
And each number AI has to explain.
So AI versus calculator.
The difference is that calculator works for you, but in
a specific logic correct in the box.
AI is a software that could make the work as
better as human or better.
So if you have some kind of software that makes
something not algorithmic work, like estimation of apartment and it's
on a human level or expert level or better, it's
literally AI.
It doesn't matter how you build it.
It doesn't matter if you have 1,000,000 Chinese people, but
it's impossible for sure.
People can call this AI.
So people can call AI any kind of software because
AI, it's a bunch of technologies in general.
People call AI something that works on the level of
human or better, right?
Once you have it, you have a technology because you
can't build it another way.
Alex, I got a question for you because I think
up until this point, I think you've made a great
case of, you know, why Realist?
The software is just, it's fantastic.
I think for any, for any of us that, you
know, we all are buying real estate, at least to
live in, you know, I mean, residential is, is the
most important.
Like you said, we spend 80% of our life in
residential real estate.
But I want to know a little bit more about
the team and in realist, because how do you go
about building this?
I know you can't, you know, you're not going to
reveal all the secrets of your company.
But I mean, I'm just like, how do you get
all of this data?
How do you know?
Do you have a team of engineers that are working
with you?
Tell us a little bit more about the story of
realist and how you go about this, Because for me,
it's very hard to understand, like how how can the
AI be this good to get all of this data
just seems incredible.
I'd love to know how you how you built the
company, your vision and kind of tell people more about
your company because this is I've never seen anything like
this and I've and I've never seen a better real
life application of AI into something that wow, we can
really use this in our life and it can change
our life.
Yeah.
So first of all, it's free and people can use
it any day.
Yeah.
And the key thing is that real is now is
scaling across the world.
So it's not just analytic thing.
It's an opportunity for people to buy online if there's
something across the cities or across the countries if they
would like to buy something and it's also going to
be for free, no service charges that.
This is our principle, by the way, how we make
money is the next question.
Once people buy something, developers and sellers, they Pay Commission.
So easy, super easy business model.
But because we don't have Realtors inside, so we can
provide much better price and all this stuff.
So we don't have just people we need to pay.
Yeah, that's, that's the key reason.
So about the team and just before, because I remember
when you opened the segment, you said, you know, AI
is going to result in a lot of many millions
of job losses.
I'm, I'm thinking a lot of Realtors are really going
to be in trouble in the future.
I think 30% of Realtors are going to lost their
jobs in four years.
Yeah, I could, I'm sure, 100% sure.
But Realtors are very important.
Yeah.
So I don't want to say that Realtors are useless.
No, no, They're important, but they're important for different tasks.
You know, like if you buy something for yourself, for
personal living, it's literally better to work as a Realtor
because you would like to know some different, you know
what?
A neighborhood.
Yeah.
What are your neighbors and all this stuff?
So Realtors spent years of their lives just to collect
all this information.
That's right.
So it's quite impossible to digitalize.
But once we speak about investment, Yes.
Once we speak about, you know, parking money.
Right.
We have somewhere in the world.
So literally don't eat in a Realtor.
Makes sense.
Makes some Yeah, yeah, so and why I'm here and
we are speaking together.
So I told you previously that what I do, I
have all these technologies, bench of technologies, how to collect
data, how to digitalize series and set try.
And this is a very important thing because I'm looking
for people who can run this business even for free.
Yeah, they can take this technology and run this business
in a city.
So I need to open 3540 cities this year, OK.
And my goal is to scale it to 1000 cities.
So in real people can take this technology in the
city they live and run a business and this business
with us.
So in partnership of of course, but they can run
this business and this business is kind of incredible.
Let me give you the story and after I'm going
to explain why, OK, this important thing because what's happening
because it was AI now it's a lifetime opportunity, believe
me, sell and the window is closing now, OK?
It's not forever, right?
Like it was a goal time of Internet era and
some people made billions on this and it changed the
lives, it changed the market, etcetera.
What's happening now?
It's a 10X more powerful wave than the Internet.
Wow, that's how big is it?
And we are on the middle of the way.
So the window is going to be closed after three
years approximately.
OK.
Now it's, you know, free felt for changing for, you
know, disrupt status quo.
Everything is happening now so about my story, I started
my real estate career.
I can say real estate career 12 years.
I sold my first piece of Flint at 12.
I helped my family, my family invested in real estate
for the long term and I started to help them
and once I sold the.
So I managed the viewings, you know, after the school
and once I sold my first piece of Flint, I
piece of real estate, my mother told me.
So you're going to be or real estate tycoon, you
know, or you're going to sell used cars.
So I still don't have a driving license.
So my my password is pretty determined.
Yeah, yeah.
So at university I made quite a good capital by
managing real estate agency.
So I ran real estate agency and I started to
invest in real estate and I fast understood that all
my day was about Excel's files, analytics, listing, speaking with
Realtors, etcetera.
And I dreamed about kind of software that could take
out of my life 90% of the job.
So I, I didn't know anything about IT like 12
years ago.
And I started to travel like in New York, San
Francisco, Hong Kong, other countries, and try to understand maybe
someone made it already and I can just take it
and make my fortune.
So at that time, I had approximately a little bit
more than $1 million, and my goal was to make
it from 1,000,000 to 10 million.
And I just calculated how many deals I need to
make.
And so I understood that without any kind of software,
it's kind of going to take 30 years for me.
And I wanted to make it 5.
That's my IT.
It was my kind of motivation.
And I started to work on algorithms and build the
first team and lost almost all my money by building
IT company because I had no experience, right?
But using this very expensive education, yes, I understood how
to manage the team and how to build the IT
systems.
And eight years ago, I understood that AI will come
anyway, it's going to be happened.
And I started to work on AI.
So from that, from that time, we met a lot,
but we made it in Russia.
We worked with banks, developers, biggest banks, and we were
integrating our AI estimation into mortgage estimation, all this stuff.
And after the war, I decided to move from Russia
to Dubai.
And we started from scratch.
So I moved 80 people from my team.
Yeah.
So when we just lost the business in Russia at
the time, so we lost dozens, millions of dollars at
the day.
Wow.
Yeah.
But I understood that I'm going to never build global
business from Russia for that day.
So we decided to start from scratch.
And what we had previously, our knowledge AI, all this
time on top of this, we made to marketplace, just
people can find and buy something online.
And we decided to make it free estimations, free technology,
no SAS, no payments, nothing.
So literally people, investors across the globe can use it
any place in the world and just buy it.
And one guy called me one like a few years
ago after the war and he said I'm moving from
Russia.
Could you please make the same software for me?
I would like to run this business in a new
location, OK.
I said OK, right, Because we're going to have two
locations, not just Dubai, but another one.
And I made it for him, and he became our
partner in a specific city.
And more and more people started to come, and they
saw us in media.
They saw us in, you know, in Bloomberg or Forbes,
some kind of global media.
And they said, wow, this is a good idea.
I thought about it for a long time, but I
had no knowledge how to do it.
But you already did it.
So why we just don't make business together in Jakarta?
OK, I have never heard about Jakarta previously.
I said why not let it go?
Why not?
And so far we now we are launching 20 cities
already from San Paulo to Jakarta, Bali, Seoul, Bangkok, Phuket,
Istanbul, Old Spain, Berlin, Vienna and many more cities.
Yeah.
And I understood that I, I need to digitalize this
thing.
Yeah, absolutely.
I need to digitalize this world.
And I know how to do it.
I built a lot of software under the hood, how
to take the data, how to digitalize this, how to
download, how to, you know, take more sources, how to
work with developers and they are going to provide the
data daily and all this stuff.
So I have a package, but I literally have no,
I have no people across the world.
And my efforts are my focus and effort is that
I need to speak about it.
Yeah, Openly, correct.
Even all the software is open and people can go
and check how it works.
It's on the website, how it works.
Yeah.
Yeah, Exactly.
Exactly.
Yeah.
And they can take it.
And once we together can digitalize the world, it's going
to be something great because this thing could change a
lot of lives.
For example, in a few months, we're going to launch
a software that you literally can put your address where
you live now or you rent and get estimation in
10 seconds and get recommendation from AI what you could
get better in your city or across the globe.
And what is the price difference and what you can
get if you move and what you can get or
for example, you have a new child, you have a
2 bedroom apartment, you need a three bedroom.
This EI will find for you the best match, OK,
between what you have and what you can get.
Even this EI will calculate the mortgage rate for you
best OK.
So any kind of scenario, you know, any kind of
way should be calculated by EI and this should be
for free for people.
That way we can, you know, make impact on this
world and change something.
I love that.
So I literally lost 10 years of my life and
I wish nobody, I'm going to lose someone.
Well, Alex, I think a big take away that I've,
I've also learned today is just your journey as an
entrepreneur.
I mean it, it's actually quite amazing.
You spend $1,000,000 building a tech company, you know, almost
lost it, lost a million, but but you learned a
lot of valuable principles.
And I think that's a really good thing with a
lot of entrepreneurs is that if you have that ability
to learn and you can, you know, you, you go
through the process, you can lose a million, but you
know how to make it back.
And you, you certainly get had a very expensive education,
but now you've built something and, and I think you
have see the opportunity here.
This is this is quite amazing.
I love the analogy.
We opened this, this podcast on saying the penetration, right?
We had the Internet for 20 years.
Then you had mobile phone.
Now that's at 98%.
But now AI is just 25%.
You said, right.
So yeah, penetration.
So, but that gap's closing.
One more interesting idea here.
Do you know what was the first business of Elon
Mask?
No, I don't actually.
No.
OK, it's not PayPal.
The first business of Elon Mask was Zip 2 company.
Literally it was a map with points on the map
with description, what you can find in the map.
It was previous Google Maps.
OK.
So a lot of companies across the world, we're building
these maps, Berlin, Dubai, Moscow, New York, et cetera.
So even masks sold his companies the $32 million, not
$1,1,000,000.
It was the first company that he built before the
Google.
And after Google came and crashed all these companies across
the globe, more than thousands of companies went bankruptcy because
of the Google at that time.
But what's happening with the AI now we have a
horizontal or basic LLM models like ChatGPT for now, but
the world needs vertical AI.
Let me explain what does yeah.
What's the difference for vertical AI is like AI for
real estate, AI for detecting concert in lanks, AI for
you know, managing bookings in hotels, OK, you know, or
AI managing your travel OK, all this around.
So it's vertical.
These are vertical AIS.
Let me explain how big is the opportunity now for
example, with example of rail list or with example vertical
AIS.
Imagine that in Dubai, for example, there is a developer
in Emar.
Emar is a developer of Burj Khalifa and many more
buildings sell.
Last year they made in sales $11 billion in sales.
They sell residential, right?
What is AI model?
AI model could give to Emar Like first of all,
they could sell real estate without agents, right?
And they can save 234 percent at least.
Second, once you have AI model, you could make better
pricing.
So what's happening in real estate For now, developers use
kind of assistant advisors and they play the real estate
pricing like not algorithmic, but once you book a plane,
all pricing in plane tickets already based on smart pricing.
So once the demand is high, the pricing are high
and it's dynamic.
But in real estate, not so in general.
And once they have AI, for example, they can understand
what they should build on specific plot of land, what
set of apartments and how much money they can make.
So in general, AI model, for example, Imar tomorrow buys
Surrealist in Dubai.
This AI model could bring them at least 5% extra
margin on the business.
So 5% extra margin on the $11 billion businesses, $540
million net, right a year, right?
And the beautiful thing about this example is that that
Emar has a business with real estate only in Dubai,
right?
95%, they don't care about Singapore, they don't care about
London, they don't care about New York, right, right.
In each city you are going to find the biggest
place like banks, insurance, real estate developers and they all
need.
Digitalized model of the city, right, in terms of real
estate for better for making better decisions.
Can they build in house now?
No, no, it's not a game of money, right?
It's a game of talents and you know, engage people.
OK, So in real, one model in one city could
be valid hundreds, millions of dollars, right?
Even one city.
Wow.
That's how models are so important based on this example
in the world in the future.
So the next three to five years, AI models, vertical
AI models are going to be the hottest products on
the market.
Interesting.
And the companies like huge companies are going to buy
in small companies, not because of the the brands or
database, etcetera.
They're going to buy them because of models inside.
That's how powerful and how much money it going to
bring once you build AI models.
So for specific niche, you know that is so it
could make a huge impact in big businesses.
It's just one example, right, that So what I do,
I'm just building and I make seats across the different
cities.
So try to train the model for specific city to
be kind of it's a simple example, but to be
kind of even mask with a zip two.
Yeah, yeah, nice.
So zip 2 was the map.
Yeah.
Why I said about the map, The map is always
unique for each city, digital map.
So now you have a Google Maps for all the
world, but previously each city had several companies who were
working on maps.
The same thing now is happening, for example, in real
estate.
So and the same thing is happening with the vertical
AI.
Once you have a model for specific business of specific
city and cetera, it could be valid hundreds, millions of
dollars.
Wow, amazing.
There's such an amazing opportunity, I think in in in
the world, but certainly real estate AI.
I think you've made a great case for that.
Alex, this has been such an amazing chat with you.
I've really, I've really, what I always like to do
with these chats is I, I like to come in
and be a student.
I like to learn and, you know, find an amazing
case.
Realist is an incredible company.
What about people that are watching this, that are interested,
you know, either using the software or learning more about
your company.
You said you had some, you know, you, you'd like
to find, you know, there might be some viewers here
that are interested in this and saying like, how do
I partner with realist?
What I did, I digitalized my brain already.
So I used charge PT model for my knowledge.
So I trained this model and I took the data
from the real as platform and combined together so it's
in real.
I can provide the link to my AI, AI digital
twin and this AI.
First of all, it's much clever than I second it
could answer it any questions about real estate across the
world or how I've works, what's all parameters, right.
It's already digitalized so it's much easier, you know.
Yeah, yeah.
So literally anyone who would like to speak with me
can speak with my digital twin and get all answers.
Amazing.
For any questions.
OK, yeah, I'm going to provide the link so people
can use it.
Fantastic.
Yeah, we'll put that link down there so you can
talk to your digital twin.
That's awesome.
Obviously, obviously the website for our realists as well.
And Alex, you have any final words you want to
talk to our our guests?
Thank you for watching this video.
Yeah, absolutely.
And thank you.
You're incredible.
Oh, thank you, Alex.
It's been a been a pleasure.
Thank you for having me here in London.
And once again, everybody, we're just so committed to bringing
you these amazing insights.
You know, we travel around the world.
We're we're meeting with experts in artificial intelligence technology.
I mean, the world around us is changing.
It's changing so fast.
AI is going to be a big part of this.
It's why I have such an interest in this and
well, I've flown all the way to London to meet
you, Alex, to learn about the fastest growing AI real
estate company in the world.
So congratulations to you and the entire Realist team on
the success that you've achieved.
I have no doubt.
I mean, I'm, I'm sold.
I think this is a fantastic platform.
I know that you're going to continue to achieve great
success and you have a very ambitious goal of going
to 1000 cities.
I know very soon, you know the whole world is
going to be in your platform and and it's going
to make real estate investing and really knowledge, right?
We're really just talking about knowledge and and getting that
out to the world.
That's going to help people be smarter and make the
world a better place.
Thank you black people say in Dubai, inshallah.
Very nice everyone.
I want to thank you for watching today's video and
I hope you enjoyed this incredible entrepreneurial story with Alex
Gold.
I want to thank him and the entire team from
Realist who flying me out here to London.
It was incredible to spend some time with his team
and again, this is what we do on this YouTube
channel.
We bring you amazing insights into geopolitics around the world,
but also the future of tech.
Many of you know me for my insights into the
United States and China, but again, it's entrepreneurs like Alex
who are harnessing this power of AI, embracing technology and
again are truly changing the world.
If you want to find out more information about Realist,
make sure that you click the links down below.
We're going to put a website link.
And if you are interested in real estate and you
want to learn more about the power of AII, want
to invite you to check out Realist.
I spent many hours with Alex looking at this data.
It is truly incredible.
The most amazing thing is that it's free to everyone
around the world.
And again, I think it truly is going to change
the way that we see real estate in the future.
Everyone, as always, thank you for your incredible support on
this channel.
I can't wait to show you more insights as we
travel around the world.
Thank you for your support and we'll see you in
our next video soon.