artificial intelligence
"Although AI has been on the horizon for some time, we’ve observed a marked surge in its adoption within the last 10 months with the introduction of generative AI tools like ChatGPT," Conroy said. "This recent acceleration underscores the value that both firms and individual investors are recognizing in AI tools for the real estate sector."
Conroy noted that even as AI is adopted more broadly in real estate, its "crucial to remain cognizant of potential pitfalls" and added that "AI-generated content, while sophisticated, can occasionally miss nuances or overstep boundaries, potentially leading to misinformation or misrepresentation, which can lead to serious issues in a real estate transaction."