Entities
View all entitiesCSETv1 Taxonomy Classifications
Taxonomy DetailsIncident Number
149
Special Interest Intangible Harm
no
Date of Incident Year
2021
Date of Incident Month
11
Estimated Date
Yes
Multiple AI Interaction
no
GMF Taxonomy Classifications
Taxonomy DetailsKnown AI Technology Snippets
(Snippet Text: "We've determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility," said Rich Barton, Zillow's co-founder and CEO., Related Classifications: Regression), (Snippet Text: For Zillow, one of the first steps in its decision to purchase any home is the "Zestimate" — a machine-learning-assisted estimate of a home's market value that is calculated by taking into account oodles of data about the property gathered from sources including tax and property records, homeowner-submitted details such as the addition of a bathroom or bedroom, and pictures of the house., Related Classifications: Multimodal Learning, Diverse Data)
Risk Subdomain
7.3. Lack of capability or robustness
Risk Domain
- AI system safety, failures, and limitations
Entity
AI
Timing
Post-deployment
Intent
Unintentional
Incident Reports
Reports Timeline
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…
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…
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…
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…
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