Will AI affect jobs in the property industry?
Ocean Edge Executive Search
Recruitment and talent acquisition experts dedicated to the affordable housing sector.
There’s no doubt that Artificial Intelligence (AI) is changing the way we live and work. We’re all used to asking Alexa and Siri questions and relying on face recognition to quickly and securely open up apps. In the social housing sector chatbots interact with tenants online everyday and the success of digital platforms to help manage rent arrears is evident with the news that an AI company used by several housing associations to maximise rent collection has recently raised ￡1.55 million in investment.
However, despite its obvious benefits, AI is a divisive topic with some experts predicting serious repercussions of replacing humans with machines. Elon Musk has recently voiced his concern at the speed with which AI is growing, citing potential risks to society and humanity. And Goldman Sachs states that 300 million jobs could be affected by the latest wave of AI. ?
But how will AI affect the property industry? To find out, we went straight to the (robotic) horse’s mouth and interviewed ChatBotGPT
- robot: Hello, How can I assist you?
- user: How will AI affect jobs in the property sector?
?- robot: Artificial Intelligence technologies are already disrupting many industries, and the property sector is no exception. AI is expected to have a significant impact on various jobs in the industry, including:
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1. Property Management: AI-powered tools can be used for automated property management tasks such as scheduling maintenance, managing rent payments, and tracking lease agreements. This could reduce the need for administrative and management personnel.
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2. Real Estate Appraisals: AI algorithms can quickly analyse property data, including location, size, and amenities, to provide appraisals that are more accurate than traditional methods, which may reduce the need for appraisers.
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3. Construction and Maintenance: AI can be used to optimize building design, automate construction processes, and monitor the performance of buildings' physical and digital systems. This could reduce the need for manual labour and unskilled workers.
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4. Real Estate Agents: AI-powered tools can help agents identify suitable properties for their clients based on their preferences, budget, and location.
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At Ocean Edge we do use elements of AI to help us complement and speed up some of our process. It is very early in the development and implementation of AI as with most innovation it is reasonable to expect that there will both be positives and negatives and will always take time to evaluate what works well. What do you think?
Ocean Edge specialise in recruiting to the housing sector. If you are thinking about your future career options please get in touch for a confidential discussion.
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