Incident #149·AI Safety & Failures
Zillow Shut Down Zillow Offers Division Allegedly Due to Predictive Pricing Tool's Insufficient Accuracy
Explainability
Description
Zillow's AI-powered predictive pricing tool Zestimate was allegedly not able to accurately forecast housing prices three to six months in advance due to rapid market changes, prompting division shutdown and layoff of a few thousand employees.
Actors
Alleged Deployers
- zillow
Alleged Developers
- zillow-offers
Harmed Parties
- zillow-offers-staff
- zillow
Classification
Risk Domain
AI Safety & FailuresRisk Subdomain
7.3. Lack of capability or robustness
MIT Risk Profile
AIUnintentionalPost-deployment
Topics
Explainability
Source
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