Will AI replace Appraisers

With the recent breakthrough in text based AI, everyone is questioning if their job is in danger. The AI is already great at coding and can be used to write and debug programs, but what about appraising? Well, I asked Chat GPT (chat.openai.com) and this is what it said.

Me - "Can you appraise a home?"

Chat GPT- "I'm sorry, but I am not able to perform appraisals, as I am a large language model trained by OpenAI. I am not able to access real-world information and can only provide general information and explanations on a wide range of topics."

Me- "Will AI replace humans in the residential appraisal process?"

Chat GPT- "It is possible that AI could play a role in appraising houses in the future, but it is unlikely that it will completely replace humans in this field. Appraising a property is a complex process that involves evaluating a wide range of factors, such as location, size, condition, and market conditions. While AI algorithms may be able to analyze large amounts of data and provide some insights, it is unlikely that they will be able to fully replicate the knowledge, experience, and judgment of a professional appraiser.

In addition, the appraisal process often involves interacting with people, such as homeowners and real estate agents, which AI algorithms are not currently able to do. This means that human appraisers will still be needed to provide the personal touch and expert judgment that are essential in the appraisal process.

Overall, while AI may be able to assist with some aspects of the appraisal process, it is unlikely that it will fully replace human appraisers in the near future."

This may sound like an endorsement of an appraisers skill or it could just be flattery, hard to tell. Either way, there will be impacts in a lot of job fields and it is likely that our roles will need to shift and adjust to the changes in technology. Don't get me started on the implications of the recent breakthrough in fusion energy, or we will be here all day.

-Jordan Jorgensen

Image and text are from Chat.openai.com/chat