Zillow
Zillow — organisation named in the Production AI Institute incident registry.
What changed
Zillow's algorithmic home-buying programme (Zillow Offers) purchased homes at prices its model predicted would appreciate, then resold them for profit. The model failed to track rapidly changing market conditions in 2021. Zillow found itself holding 9,800 homes worth $2.7 billion, purchased at abov…
Timeline
- 1 Jan 2021Zillow iBuying Algorithm CollapseIncident80%