In recent months, it’s been almost impossible to escape AI, the buzziest new tech advancement. AI has been around for a while — in our cars with our automated navigations, in our phone’s personal assistant, and even in our homes in our appliances like robot vacuums — but with rapid further advancements and the surge in popularity in using AI to perform jobs we rely on, it has become a far more pressing issue.
It has been predicted that within the next decade, AI will be responsible for many business processes within the property industry. AI can perform many jobs that are time-consuming, such as carrying out market research and conducting competitor analysis, which could free up more time for Estate Agents to spend with customer-based priorities. As recently as this month, the first ever instant loading AI website has been launched by Estate Track, which they claim can now offer an enhanced user experience by incorporating property videos directly into listing results, providing a more immersive and convenient browsing experience.
“The hugely popular ChatGPT, an OpenAI created content writing AI, has gone from correctly answering a simple maths problem 98% of the time to just 2% in only a few months.“
However, there is still some way to go with AI technology and we’re already seeing it is less reliable than we previously thought. The hugely popular ChatGPT, an OpenAI created content writing AI, has gone from correctly answering a simple maths problem 98% of the time to just 2% in only a few months, a new study finds. So just how concerned is the industry as it currently stands?
In a recent survey of UK property professionals commissioned by Searchland, 87% stated they are not worried that AI technology could make their roles obsolete in the future. While the industry remains split on the use of AI and whether it would actually be beneficial, it is still a very low percentage that believe their job is actually at risk.
“87% of UK property professionals stated they are not worried that AI technology could make their roles obsolete in the future.”
As for whether any had actually gotten on the AI bandwagon themselves, only 13% of those surveyed state their company had adopted AI technology, with data processing being the most common area of application.
It was almost universally agreed at 84% that technology can only do so much without the guidance of a human being, with a further 78% believing that being too reliant on technology can be detrimental to the service they are able to offer.
At Richard James, though we are always ready at the forefront of technology and looking for the best ways to service our clients, we believe that nothing can beat human interaction and intuition, nor could a machine ever do the job of our valued agents and colleagues.