20 Minute AI Appraisals Are Coming

[George Hatch]

who is they....

The users, of course.

 

[Mark K]

AI doesn't need to think like humans to produce a comparable product to an appraisal report

Hopefully it won't think like a human. Just consider the endless arguments on this forum over subjective, insignificant, and often meaningless minutiae, all based on personal biases or ignorance, that AI will avoid. I'll take a computer valuation based on AI any day over one prepared by some of our frequent posters.

 

[glenn walker]

AI can't have inherently deep seated biases that all humans develop based on their culture how and who they were raised by or religion. That in itself could save or even end racial biase lawsuits.

 

[cpursley]

AI can't have inherently deep seated biases that all humans develop based on their culture how and who they were raised by or religion. That in itself could save or even end racial biase lawsuits.

AI can be as biased, racist or woke as it's trained and tuned to. In fact, I think that's one of it's largest risks.

 

[glenn walker]

AI can be as biased, racist or woke as it's trained and tuned to. In fact, I think that's one of it's largest risks.

So one trained by a white programmer versus a Black programmer could be a problem ? Or a Flux Capacitor Dude who hates Russians could input biases...lol

 

[cpursley]

So one trained by a white programmer versus a Black programmer could be a problem ? Or a Flux Capacitor Dude who hates Russians could input biases...lol

One example is the Chinese models are pretty censored on certain touch topics related to their history.

 

[Vermonter]

So one trained by a white programmer versus a Black programmer could be a problem ? Or a Flux Capacitor Dude who hates Russians could input biases...lol

Or it learns bias based on statistics like that amazon hiring algo a few years back

 

[J Grant]

AI doesn't need to think like humans to produce a comparable product to an appraisal report

Actually, it would.

But since it is not human and can not form a human opinion, whatever valuation it produces would not be an appraisal under USPAP.

Sounds like AI is years out from getting anywhere close, if ever - IMO for many uses AI will be applied for certain specific functions rather than the whole.

 

[glenn walker]

Actually, it would.

But since it is not human and can not form a human opinion, whatever valuation it produces would not be an appraisal under USPAP.

Sounds like AI is years out from getting anywhere close, if ever - IMO for many uses AI will be applied for certain specific functions rather than the whole.

No one licensed appraiser can quicky tech review it and sign the Certification of Opinion of Value and attach his E & O and license.

Do 100 a day at $10 bucks per signature. Easy $1,000 a day ...lol

 

[alebrewer]

No one licensed appraiser can quicky tech review it and sign the Certification of Opinion of Value and attach his E & O and license.

Do 100 a day at $10 bucks per signature. Easy $1,000 a day ...lol

Dude - you're giving away my retirement plan.