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What Are the Ethical Implications of AI in the Property Industry?
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A full 67% of IT senior leaders are prioritizing generative AI for their businesses, according to Salesforce data. This statistic underscores the growing importance of AI in today's business landscape and highlights the urgency of understanding its implications.
Although AI is not new technology, over the past couple of years, it has reshaped industries. But with its rise comes a myriad of questions and concerns, ranging from technical complexities to ethical implications.
From forecasting floods to streamlining insurance claims, AI is revolutionizing how we interact with property data and make decisions. But as we navigate this technological landscape, we must also address the ethical dimensions of AI, ensuring fairness, transparency, and accountability.
In this episode, host Maiclaire Bolton Smith and Amy Gromowski, CoreLogic vice president, head of Data Science, delve into these questions surrounding AI, exploring its potential, challenges, and ethical considerations.
In This Episode:
2:35 – Explain AI like I’m a five-year-old.
5:31 – AI not new technology. How long has CoreLogic been using it?
7:05 – Why is data security and integrity so crucial for AI models?
10:03 – Erika Stanley goes over the numbers in the housing market with The Sip.
11:12 – What can we do to limit implicit bias and explicit bias in AI models?
15:52 – What does it mean to responsibly use AI?
18:48 – Erika Stanley talks about what is happening in the world of natural disasters.
20:19 – What will widespread adoption of AI look like for the property industry? Will this ever transpire?
Links:
Up Next: Some Insurers Banned AI — Will Insurtech Bring It Back?
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