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Riverside County, California Selects C3 AI as the Standard for Real Estate Property Appraisal

26 September 2023
  • County Assessor’s Office Digitally Transforms

REDWOOD CITY, Calif. / Sep 26, 2023 / Business Wire / C3 AI (NYSE: AI), the Enterprise AI application software company, today announced that the Office of the Assessor-County Clerk-Recorder (ACR) of Riverside County, California has selected the C3 AI Residential Property Appraisal application to increase the efficiency, fairness, consistency, and accuracy of real estate property appraisal.

Following a successful six-month production pilot, the Assessor’s Office has signed a five-year commitment for C3 AI Residential Property Appraisal and the C3 AI Platform — along with additional applications of C3 AI Commercial Property Appraisal and C3 Generative AI. C3 AI Residential Property Appraisal at Riverside is the first production-ready, out-of-the-box, AI-powered mass appraisal system in California.

A major service of the Assessor’s Office is to value all taxable property within the County. Those appraisals determine residents’ property taxes, which provide local government operating budgets. With C3 AI, the County can calculate the fair market value of properties with AI models built on historical data stored in the County’s systems of record, and from other sources. By shifting the practice to rely more on AI models, the County can increase efficiency within the process, reduce labor, and improve the consistency and accuracy of appraisals.

“Riverside County exemplifies how local governments can leverage AI to reduce cost, increase efficiency, increase service levels, and build public trust by increasing transparency and modernizing this decades-old manual, time consuming process,” said C3 AI CEO Thomas M. Siebel.

By using C3 AI Residential Property Appraisal, the County has seen an improvement in accuracy of appraisals while reducing the complexity of the appraisal process. Before adopting the C3 AI Platform and applications, ACR had to rely on over 30 appraising models and manual data analysis to appraise properties. Now the process is over 40% faster, relying on only four appraising models. This application is running on Google Cloud and leveraging Google Cloud’s services and solutions at scale.

One challenge ACR, like many other government organizations, faces is the limited ability to recruit and train new staff. Backlogs from rising workloads in the wake of vacancies has created an imperative to turn to technology — and with C3 AI Residential Property Appraisal, a process that used to take appraisers hours, now takes minutes. And using the extensibility of the C3 AI Platform, ACR seeks to build out a portfolio of AI-powered applications to drive substantial benefit for the County and its residents.

“At the Assessor’s office we believe that technology — such as C3 AI — can facilitate our mandate, which includes providing better services with less public funds,” said Peter Aldana, Assessor-County-Clerk Recorder for Riverside County, California. “The ability to provide fair and accurate valuations efficiently benefits all County residents and expands our staff’s bandwidth for other priorities, including public outreach, education, and services.”

About C3.ai, Inc.

C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Platform, an end-to-end platform for developing, deploying, and operating enterprise AI applications, C3 AI applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally, and C3 Generative AI, a suite of large AI transformer models for the enterprise.

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