"It is high time an AI-based market disruptor came in and overthrew the old boys' network to create an on-demand conveyancing force"
However, while automated e-mails and chatbots may save a bit of time, they also lack nuance and can appear cold and (trying not to state the obvious here) robotic. Could relying too heavily on technology alone also potentially cause issues in personal relationships with clients, landlords, tenants, etc?
Property Reporter reached out to those working in property via PR platform, Newspage, to find out if AI is a welcome addition to the industry or if we need to keep one hand on the plug just in case.
AI is good, but nuances would be missed
Scott Taylor-Barr, Financial Adviser at Carl Summers Financial Services: "I am a great advocate of the tech-enabled professional, but not of professionals being replaced, simply because no system can replicate the human interactions and nuances of a conversation.
"For example, there have been times when I've met with first-time buyers and asked a question, to which they give me an answer, but they share a look between themselves.
"So, I probe and find out that the answer they just gave me was one they had been told to say by a family member, it's not their answer. So we discuss and chat and look at the question and possible answers and outcomes, to get to their answer.
"A machine would have missed that look. A machine would have taken the given answer and delivered the perfect solution, based on the wrong information. AI and tech are great when used to support and not replace people in the transaction."
A solution for the 'Victorian' conveyancing sector?
Kundan Bhaduri, Property Developer and Portfolio Landlord at The Kushman Group: "Anyone who says we have too much technology going on in the property sector hasn't been through the rigmarole of conveyancing in recent times.
"Get some candles out, for Britain's property conveyancing sector is still stuck in Queen Victoria's 19th century, fervently burning midnight coal and dipping their quill in ink to get transactions over the line.
"It is high time an AI-based market disruptor came in and overthrew the old boys' network to create an on-demand conveyancing force."
Austyn Johnson, Founder at Mortgages For Actors: "Yes, but it won't last long. For a couple of years, freelancers may struggle, but then when everyone is asking the same questions to the same websites and generating the same rubbish, the persona touch will be back with a vengeance. Anyone who relies 100% on tech, will end up looking like an automaton with no sci-fi film to make it attractive. I do hope the freelancers make it through ok though.
We're probably fine (unless it can solve Captcha)
Oliver Fish, Director at Oliver James: "Chat GPT and other AI platforms seem to be all the hype right now and understandably so as what has been created is so clever and efficient but for me personally, it just seems like a glorified Google.
"Whilst the information that it produces (based on the prompts you have to provide using your own brain) is very clever indeed it still comes across as cold and without personality.
"Property is a people (human) business built on strong relationships and that is something I feel no robot will ever be able to replace."
Rhys Schofield, Managing Director at Peak Mortgages and Protection: "AI and tech have the potential to automate a lot of the time-consuming simple parts of the process which is brilliant but my advice to anyone in the industry is not to worry about becoming obsolete. Until a robot can identify which of 9 pictures contain a traffic light, experts are still going to need to be there to help with problems."
