How far can AI go within the property industry?
We live in an era, within the property sector, of constant advancement primarily categorised into the subject of #PropTech. Innovative solutions, ease of use, time saving, money reducing and dare I say, staff time redution options for property professionals to dip in and out of. If we take simply estate and letting agency as a theme for this article, then there have been constent advancements over the years and especially since the adoption of computers and the internet. One of my first jobs was as a trainee negotiator (Black Horse so yes, that many years ago) and my desk had no computer on it and merely a box with our warmer client leads to go through every time a new listing came on to the books – Only the manager had a PC for the office.
Fast forward to computers being cheaper and having much more choice then we were all provided not only easier places to store our files, we were also able to send emails and embrace the internet. Then of course came along mobile phones, Rightmove, social media and more to increase our reach and connectivity. #Proptech in the last ten years has evolved with a practical solution for most estate and letting agency problems, connecting better, integrating seamlessly and reducing effort/time/money.
As we adapt to a modern era of technology we suddenly see more and more reference to AI and most certainly the ability it holds. ChatGPT for most of us hits our ‘current’ scene, the artificial-intelligence chatbot making it easier to produce human-like text responses from replies to detailed scripts and storylines. Does one ever need to think about writing a novel when simply you type in to the app your storyline desires and you are fired back almost instantly a lengthy, grammar perfect masterpiece?
For yeas we have lived with the idea of robots. Whether or not it was those episodes of Doctor Who or Arnold Schwarzenegger’s ‘talk to the hand‘ Terminator. The idea of robots has never been beyond the imagination from those built to fight wars to others simply giving a helping hand around the house.
Self driving cars, self landing space rockets are all headlines news today, though many of us had or knew of someone using a robot(ic) hoover from the late 1990’s onwards maybe? Whereas innovation should be embraced and holds many positives, some will (rightly so IMHO) hold reservations and concerns. ChatGPT is the new kid on the block, but even autogenerated text has doubters already ‘banned in Italy over privacy fears‘. Will automation take over human creativity? We changed the car manufacturing industry from production lines of hard working staff to robotic machines being managed by just one person, did we not? Will those selling their property or buying one, accept automated process and non human interactions, can AI improve customer services or hinder it?
What about the property sector and what will the likes of ChatGPT or AI mean for the workers that make the industry happen?
Can ChatGPT simply glance at property photos and write up the most engaging listing details? Outside of auto replies to emails, can we be looking at no longer a need for human intervention for email correspondence? Will drones take you on live tours of property? Can a large estate agency once of several staff be cut back to just one person in control or even less?
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