HeroX Seeking UAS for Land Surveys Through AiLTA Land Survey Automation Challenge
With more and more industries embracing autonomous technologies, HeroX is launching the AiLTA Land Survey Automation Challenge, to find concepts that can be utilized for land boundary surveying within the $15 trillion-per-year commercial real estate industry.
The current way of conducting American Land Title Association (ALTA) certified boundary surveys is an expensive, long and drawn-out process that can take weeks, even months. Through this challenge though, HeroX hopes to expedite that process by finding new and innovate technological alternatives and prototypes.
“By channeling the power of tech, we want to make boundary surveys more accurate, less expensive, and capable of accelerating the process for real estate and real estate financing transactions,” HeroX said in a statement on its website.
In order to find the best products to conduct surveys for real estate and real estate financing transactions, the AiLTA Land Survey Automation Challenge will consist of two phases.
The first phase is the concept phase, where entities will suggest a product to automate ALTA land surveys. The second phase, the prototype phase, will require entities to build their proposed concept, and test it by conducting two ALTA land surveys.
Up to five $5,000 prizes will be awarded through phase one, with the second phase awarding one grand prize of $75,000.
Interested parties have until January 24, 2017 to submit their concept for phase one of the challenge.
For more information about the competition, visit herox.com/AiLTA.
