Incident 149: Zillow Shut Down Zillow Offers Division Allegedly Due to Predictive Pricing Tool's Insufficient Accuracy
Entities
View all entitiesIncident Stats
GMF Taxonomy Classifications
Taxonomy DetailsKnown AI Goal
Market Forecasting
Known AI Technology
Regression, Multimodal Learning, Diverse Data
Potential AI Technology
Optical Character Recognition, Clustering
Known AI Technical Failure
Concept Drift
Potential AI Technical Failure
Incomplete Data Attribute Capture, Adversarial Data, Underfitting, Dataset Imbalance
Incident Reports
Reports Timeline
- View the original report at its source
- View the report at the Internet Archive
Zillow is getting out of the iBuying business and will shut down its Zillow Offers division, resulting in a 25% reduction in its staff.
In its quarterly earnings report on Tuesday, the company said it will see a total write-down of more tha…
- View the original report at its source
- View the report at the Internet Archive
In February, Zillow appeared so confident in its ability to use artificial intelligence to estimate the value of homes that it announced a new option: for certain homes, its so-called "Zestimate" would also represent an initial cash offer f…
- View the original report at its source
- View the report at the Internet Archive
Zillow's Zestimate of home values has become a go-to reference for US homeowners. But when Zillow tried to use its algorithm to buy and sell homes, it badly misread the market.
The company’s iBuyer (or “instant buyer”) arm, where tech-first…
- View the original report at its source
- View the report at the Internet Archive
Zillow, the popular online real estate marketplace and daydream fuel throughout the pandemic, is having a tough time.
The company turned heads earlier this month when it announced it would be shutting down Zillow Offers, the algorithm-fuel…
Variants
Similar Incidents
Did our AI mess up? Flag the unrelated incidents
Similar Incidents
Did our AI mess up? Flag the unrelated incidents