The head of REA Group is optimistic about AI despite investor concerns

Cameron McIntyre, REA Group’s new chief executive, says the real estate giant’s wealth of data means it is well placed to harness the power of artificial intelligence, as higher income from residential property boosted its half-year revenue by 5 per cent to $916 million.

Shares of REA and other software-dependent companies traded at 12-month lows earlier this week on fears they could be usurped by the rapid development of artificial intelligence. But McIntyre, who started his new role in November, said the pace of change has created a significant opportunity for the $24 billion company.

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