Artificial intelligence (AI) has become a game-changer in the modern world. It’s enabling chat boxes and resolving issues on innumerable retail websites. It has replaced paper maps with super-efficient direction navigation. It’s using facial recognition to unlock our phones and helping banks to recognize fraud.

And then, there are the pros and cons of using AI in real estate. Numerous articles have extolled the virtues of using this new technology:

• Use historical data to analyze trends for more accurate market predictions
• Use it to analyze demographics for better targeted marketing
• Use it to help create better, more colorful property descriptions

It has even been suggested that introverted personality types can use AI to better compete with the extroverted agents who shine on social media. The quiet ones, supporters say, can use AI chatbot technology to amplify their ideas and disseminate useful information without the constant need for engagement or casual self-promotion that social media demands.

AI advancements bring new efficiencies to property management as well, from better tenant communication to security screening and operations, freeing property managers from taking the time to do repetitive tasks.

But it’s also enabling the spread of false information, violating privacy in numerous ways, and helping cybercriminals access personal data and use it to facilitate crime.

But no matter the tasks you facilitate with AI, there are fundamental risks, not the least of which are the aforementioned privacy violations or spreading of misinformation, whether intended or not.

The bottom line is that, used responsibly, AI can help you take your business to the next level. But agents who want to use it without inviting risk would do well to check out this blog post. 

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This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. This material is not intended to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice. 

About Bobbi Pronin

Bobbi Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.

Bobbi is not an employee of Anywhere Integrated Services or affiliated with its title companies.