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Happy Monday!

Mondays and Bitcoins have something in common—they both can surprise you when you least expect it.

In today’s Morning Mashup:

Read time: 4 minutes

🏡 AI in Real Estate: The Rise of Silicon-Eyed Agents

Let's have a casual chat about our future, more specifically about your future real estate agent.

Guess what, it’s a bot.

Yes, you heard that right. It's interesting how technology continues to revolutionize the world. Nowadays, a bot, powered by artificial intelligence algorithms, can simply glance at a house, maybe through Google Street View, and voila.

It's got the price of your dream house down to a tee. But don't get too excited yet; like anything else, there's a flip side.

A lot goes into pricing a property beyond just the physical appearance, and traditionally, real estate agents had this under control. They would analyze a myriad of factors like the building's layout, prices of similar properties, neighborhood amenities and, yes, even take a personal visit.

These visits aren't just to appreciate the architectural beauty, but to soak in the environment, the types of cars parked, the crowd, the storefronts and potholes, to paint a more comprehensive picture of the property's true value.

Spotting an up-and-coming neighborhood, for example, might be tied to the emergence of trendy coffee shops or an influx of beanie-wearing urbanites.

But hey, guess what?

AI is quickly catching on to these nuances. To put this into perspective, a trained AI real estate bot using pictures of 20,000 houses in Boston and data reflecting their price changes over time. As we added more factors, such as structural info and neighborhood perks, our AI friend started dishing out some impressively accurate predictions on how prices would shift.

This is just a glimpse of what's to come. A research team recently analyzed over 27 million street view images across the U.S., discovering that visual AI could predict everything from poverty and crime to public health. Looking forward, the aim is to use publicly available images from real estate websites and social media to analyze interiors - think high-end kitchens or refurbished bathrooms.

Yet, we need to tread lightly.

Technology has its flaws and biases and in an industry like real estate, this can lead to significant consequences. Some houses may be undervalued or overvalued and unchecked AI systems could perpetuate these biases.

Moreover, there's also a risk of our predictions turning into self-fulfilling prophecies, affecting the housing market in unforeseen ways. While the widespread application of visual AI in real estate is inevitable, it's our responsibility to ensure that it's regulated and monitored.

It's an exciting new world out there, and while our silicon-eyed friends can predict much about it, it's ultimately up to us, the humans, to steer it in a better direction.

🤖 Survival of the Fittest in Wealth Management

The robo-money manager is here.

That's right, AI has rolled up its sleeves and is ready to shake up the wealth management industry that's already trying to stay afloat in the choppy waters of fierce competition and dwindling fees.

A wake-up call from PwC sends shivers down the spine: they anticipate that 1 out of every 6 asset and wealth management companies might be on the chopping block within the next half-decade.

A veteran in the game, Paul Meeks, over at Independent Solutions Wealth Management, paints a sobering picture of the AI tsunami approaching. He reckons that the smaller players will need to gear up for some serious consolidation.

And, you know what that means: big spending on innovative tech, because, well, adapt or die, my friends. On the flip side, we've got our robo-advisors, like Vanguard, Schwab, Fidelity, Betterment, and Acorns, who are investing and rolling out AI-powered wealth-building models for today and retirement planning for tomorrow. The cool thing here is PwC predicts these robo-advisors might be managing an eye-watering $6 trillion by 2027.

But here's where things really heat up. Last year, the industry clocked a record high 341 M&A deals, a nifty 11% increase from 2021, with some big players like JPMorgan and UBS making headline-grabbing acquisitions.

This all boils down to an AI-centric landscape where the titans are scaling up while smaller, niche groups need to think outside the box to stay in the game. As Meeks puts it, it's survival of the fittest — either embrace the robots or prepare for extinction.

🌐 Bitcoin's Bullish Leap: $35K August Forecast?

We've got some exciting Bitcoin buzz to share, as we slide into the final stretches of summer '23. The adept analyst Cole Garner, has got his sights set on an exhilarating Bitcoin bull run this August.

His forecast?

A sweet $35,000 Bitcoin price by the month's end.

Garner's confidence is hinged on a trio of tantalizing technicals. He's eyeing the 200-week simple moving average (SMA)—holding strong at $27,235. Bitcoin's never nosedived below this in a bear market before.

Then there's the reserve-risk multiple, a tool that gives us insight into Bitcoin's scarcity. It's just nudged past zero, hinting that Bitcoin is becoming an increasingly rare, and thus increasingly valuable, asset. Lastly, the Bitcoin Fear & Greed Index stands at 50—the highest we've seen since January. This signals a mood shift among investors, with bullish vibes being the new trend.

However, it's not all sunshine and roses. Garner does mention a few speedbumps that could trip up the Bitcoin bull. The summer season has often been a bit of a downer for Bitcoin, and let's not forget the ongoing situation in Ukraine which could stir the pot of market volatility.

Sure, this is just one forecast, and as we know, the crypto market can be more unpredictable than a cat on a hot tin roof.

There's no surefire "full bull" guarantee for Bitcoin next month. But Garner's pointers definitely add a fresh layer of intrigue to the Bitcoin journey in the coming weeks.

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🐦 Tweet of the day

The mind is built to sprint or sleep.

That’s all for now!

If you have any interesting projects or ideas please reach out to us by responding to this email or by sending us a DM on Twitter: @DerikVasquez & @MorningMillionaire

As always, thank you for your time, and see you soon.