20 Minute AI Appraisals Are Coming

[Joe Flacco]

As I've said before....
You're smart....
Just don't hang your future on that niche market....
Before you become part of the appraisal industry's old heads....
That trains a-heading in everyone's direction....

Stop saying that. It's not about being smart.

It's about me averaging 8 hours per report desk time over 20 years while 95% are averaging 2 hours of desk time per report over 20 years.

Has nothing to do with being smart.

 

[ucbruin]

Stop saying that. It's not about being smart.

It's about me averaging 8 hours per report desk time over 20 years while 95% are averaging 2 hours of desk time per report over 20 years.

Has nothing to do with being smart.

Sorry....
Seems you've been working similar hours as those who came before you....

 

[Joe Flacco]

Sorry....
Seems you've been working similar hours as those who came before you....

5%

 

[Vermonter]

Stop saying that. It's not about being smart.

It's about me averaging 8 hours per report desk time over 20 years while 95% are averaging 2 hours of desk time per report over 20 years.

Has nothing to do with being smart.

Sounds like an old head to me

 

[Essexfenwick]

AI is freaking out every single job that involves information

Only ditch diggers and lawyers are safe (lawyers will make AI law illegal).

 

[cpursley]

that involves information

That's the key phrase, AI does not have enough information except for the most cookie cutter track homes in areas with lots of reliable public data and comps.

 

[timd354]

Any appraiser who does not understand that AI represents a significant threat to the future of most appraisers is either clueless or hopelessly naive. AI will not replace all human appraisers in the near future, but it most likely will result in a lot fewer appraisers needed within the next 5-10 years or so. Appraisers are not the only one facing this problem as a whole lot of other professions and industries are in the same predicament.

 

[timd354]

That's the key phrase, AI does not have enough information except for the most cookie cutter track homes in areas with lots of reliable public data and comps.

Correct, the biggest problems facing AI are issues with data and data collection, but that is likely to be solved for most properties in the not too distant future. Anyone who also does not think that AI will not be able to inspect properties at least as well as any human appraiser in the future using drones/robots is fooling themselves. I hate that this is where everything is headed, but that is the reality of the future....the only question is the timing.

 

[TC]

AI is freaking out every single job that involves information

Only ditch diggers and lawyers are safe (lawyers will make AI law illegal).

They'll use it to get rid of paralegals.

 

[J Grant]

Correct, the biggest problems facing AI are issues with data and data collection, but that is likely to be solved for most properties in the not too distant future. Anyone who also does not think that AI will not be able to inspect properties at least as well as any human appraiser in the future using drones/robots is fooling themselves. I hate that this is where everything is headed, but that is the reality of the future....the only question is the timing.

If the main feature of AI is that it will make everyone live in a state of existential dread and strip many folks of jobs, then WHY are we permitting that to happen? Is the dystopian future inevitable, or can we shape teh future?

If a drone and robot collection of data at an inspection does what a person can do, then why not just let the person do the job?

IT still costs money and time to send a robot or drone out and coordinate the info and lots of energy to run the data centers - and where are the buyers for homes going to come from when large swatches of people are unemployed?

People need to shape the future and not allow the tech titans and 1% to determine it -