20 Minute AI Appraisals Are Coming

[J Grant]

I have thought for many years that we spend most of our time/effort researching and qualifying and inputting our data into our reports and comparatively little time actually analyzing it and making comparisons. Maybe 90/10. Or 95/5.

How many appraisers have used DataMaster or the like to reduce the amount of time/effort they spend on just wrangling the data?

I analyze the data continually as I search and qualify it -I imagine there are others who do the same. _ I do not do rote sreacrhes or let a data program do them for me.

 

[CGinMN]

If anything, technology levels the playing field - literally Archimedes's lever.

I think this is why with many with experience and knowledge dislike AI. Everything that sets me apart that took years to learn will be assimilated into the noobs workflow in an instant. It’s like Neo when they load the program into his brain and he says, “I know kungfu.” Yeah, now that everyone knows kungfu what am I gonna do?

 

[J Grant]

I think this is why with many with experience and knowledge dislike AI. Everything that sets me apart that took years to learn will be assimilated into the noobs workflow in an instant. It’s like Neo when they load the program into his brain and he says, “I know kung **.” Yeah, now that everyone knows kung ** what am I gonna do?

Except the noobs only know how to click and do not know what to do with what AI spits out - AI is predatory and steals and plagarizes the work of humans.

People need to resist- ( many are suing AI companies for intellectual property theft)

 

[cpursley]

I think this is why with many with experience and knowledge dislike AI. Everything that sets me apart that took years to learn will be assimilated into the noobs workflow in an instant. It’s like Neo when they load the program into his brain and he says, “I know kungfu.” Yeah, now that everyone knows kungfu what am I gonna do?

Yep, I'm a software developer (over 15 years of experience). AI is now really good at certain types of coding tasks. At first it freaked me out and I thought myself and the profession (software) was screwed as well as people building products with software. But now I've learned how to incorporate and work with the AI tooling and as someone already experienced, it has literally 10xed my output, freeing up enough time to troll here on AF.

 

[cpursley]

AI is predatory and steals and plagarizes the work of humans.

AI is just math. If it was trained on copy-written work without permission, that's a legal issue to be taken up with the courts like you mentioned.

 

[CGinMN]

Nothing will stop it. You can use your limited resources fighting it, or you can find your place within it.

What if you and your AI construct a valuation model that follows your specific approach to comp selection, adjustment development, etc. and it is tested and is very good at price prediction in your market, and because of that you get the contract for GSE appraisal services in your metro? Maybe this is how it will work.

 

[CGinMN]

If the US limits AI via copyright protection, China will win. They won’t let it happen.

 

[J Grant]

AI is just math. If it was trained on copy-written work without permission, that's a legal issue to be taken up with the courts like you mentioned.

AI learns from the books, accomplishments, research data etc that humans developed. Thus, it plagiarizes and steals copyrighted or intellectual property.

There are numerous lawsuits pending, and perhaps lawyers will figure out how to license use with fees paid for content- I am not a lawyer, so that is speculative. But if it becomes costly for AI companies to steal, then they will pay . As you note, AI is not a human brain that can synthesize many moving parts and analyze it to come out with a holistic solution that is credible.

I think humans with specific applicable knowledge, such as market knowledge in appraisals and valuation, will be tapped to incorporate AI and leverage what it can do with their expertise.

If all anyone needs so do AI is push a button than nobody would have a job, but AI is far from able to be broadly be used like that to solve complex problems .

 

[George Hatch]

Everything I do in an appraisal is also derivative EXCEPT for my own observations

 

[Mejappz]

f all anyone needs so do AI is push a button than nobody would have a job, but AI is far from able to be broadly be used like that to solve complex problems

If such a situation were to arise, the government could regulate it in a manner similar to how they managed the railroad system. Farmers and small businesses protested because railroads charged them higher rates than larger corporations, and they imposed steeper charges for short hauls compared to long-distance hauls. So, if people start losing jobs due to AI—a possibility I don't think will happen—the government could intervene with regulations. The alternative could be a revolution, and that's not the kind of situation anyone wants to be a part of.