5MINS WITH ...
GAVIN RAY
Q
Gavin Ray , chief product officer of Landmark Information Group , gives us his view on what AI means for the property market
“ FUTURE VALUE OF PROPERTY AND LAND ARE VERY AMENABLE TO AI ANALYSIS ”
. HOW IS AI BEING USED IN YOUR FIELD ?
» “ There are a number of areas where AI is bringing new value to the property market ; one of the biggest is in the interpretation of key documents in the conveyancing sector . It ’ s important to see this as an accelerator of the business process of buying property : it helps conveyancing lawyers more rapidly identify the risks or concerns related to buying a specific property and address them . Today this is mainly to do with the complexities of Land Registry ownership and increasingly assessing data relating to the environmental profile and planning process of the area .
“ In the land development world , and in urban redevelopment , we see some great systems that can use AI to rapidly synthesise 3D building developments to show how land use and investment value can be changed , when you overlay historic information and market data you have very powerful insight into overall development value .”
Q . WHAT ARE THE MOST EXCITING TRENDS IN AI FOR YOU ?
» “ If our hopes for AI are buoyant , then equally so are our fears . The emergence of strong ethical models and a focus on building high integrity into the process of training and applying AI should unlock a lot of doors ; it might feel a little arcane but is something to watch closely and reap the rewards . From this strong root , trust and much greater application breadth can follow . From a purely technical perspective , I think GPT3
18 April 2021