Every day, it seems like two things are a given. First, technology manages to become an even more essential (and undeniable) part of our daily lives. Secondly, those IT resources we’ve come to rely on seem to take almost stunning leaps forward in terms of capability and potential.
Take artificial intelligence, for example. Three years ago, it still seemed like something out of science fiction for many people. Two years ago, ChatGPT made its public debut at the end of 2022. Flash forward to today, and people use artificial intelligence for everything from writing emails to summarizing reports. Smartphone manufacturers like Apple have even baked AI-powered tools into the operating systems on their devices, meaning that literally millions of people have access to it whether they realize it or not.
All that is to say that it’s hard to define an era when technology itself continues to evolve. It’s those same rapid technological advancements that have allowed people to easily discover hidden investment opportunities. Not only has it been the aforementioned artificial intelligence, but also data analytics and even automation. They’re transforming how investors can not only identify lucrative opportunities but capitalize on them as well. They’re doing this in a wide range of ways, many of which have been overlooked in the past.
Taking Skip Tracing to the Next Level
One example of how technology is changing the way investors find hidden opportunities takes the form of skip tracing. Skip tracing is hardly a new concept, but how ingrained technology has become in the process—and what you can accomplish as a result—certainly is.
Skip tracing, in general, has come a long way from how it was formerly used. There was a time when it was essentially used just for locating missing people—or, at the very least, people who may not have wanted to be found for whatever reason. If you were trying to track down someone who owed a debt, you employ various skip tracing techniques to better understand where they are and collect whatever information you can.
In an investment context, skip tracing can be used to locate abandoned properties by looking at court documents, real estate documents, and information from other public databases. If you know there is an area that will soon be considered “up-and-coming,” but nobody appears to be selling right now, skip tracing could easily provide you with your way in. You can establish a foothold in the market today so that you’re less dependent on timing. When properties go on sale through traditional means, you can certainly step in as you normally would, but you don’t have to wait for that to happen. Nor do you have to go around, knock on doors, and ask anyone if they’d be willing to sell.
Unlocking a Treasure Trove of Data
Another way technology is changing the way we find hidden investment opportunities is through artificial intelligence, machine learning, and related concepts. Consider that more data has been created in the last two years than at any other moment up until now. Every day, massive volumes of new information are being created that are legitimately helpful—if you have the resources to work with them.
If you pour over five years’ worth of historical market data, you’ll better understand exactly what is happening and even uncover a trend and pattern or two that others may have missed. The amount of resources you’ll need to do this, however – not to mention the time – is enormous.
Thankfully, artificial intelligence and tools like predictive analytics can help you arrive at the same conclusion in a fraction of the time. They can analyze far more data than a human being ever could in literally a fraction of the time. Those same tools can present key insights to you in a way that is easily digestible so that you and those around you can capitalize on those hidden opportunities as opposed to being forced to watch them pass you by.
Uncovering Hidden Value in Unprecedented Ways
Indeed, the running theme throughout all these examples is that technology helps to find hidden value that already exists in most cases. The data you’re working with is already there—it just takes tremendous effort to work with it. The houses in an area are already abandoned; it just takes a lot of skill and luck to find them. But with artificial intelligence, skip tracing, and the like, everything becomes far easier.
Technology is consistently empowering investors to uncover hidden value all around them, often in unprecedented ways that weren’t possible before this moment in time.
To return to the example of AI, even if artificial intelligence only allowed you to uncover investment opportunities you eventually would have found yourself, it’s still a step worth taking. The key word in that sentence is “eventually.” It could have taken weeks or even days to achieve the same result, and AI can likely do it in a fraction of the time. That means you can jump at the chance to add to your portfolio and devote that same amount of time, energy, and attention to something else. That’s a way to turn one opportunity into two – there’s the financial benefit and then the personal/professional one, too. It’s also an opportunity that literally didn’t exist a decade ago.
Truly, these innovations are reshaping the investment landscape and will continue to do so for the foreseeable future. They make it easier to find opportunities that were once out of reach if you had never been able to find them at all.
When you think about the ways in which technology has changed the way we find those hidden opportunities in even just the last few years, it’s truly incredible to think about what the next two will have in store for us all.