Join us in spreading awareness and committing to the ethical use of AI through knowledge and transparency
Join us in spreading awareness and committing to the ethical use of AI through knowledge and transparency
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About Ethical AI for Real Estate Appraisers
Our Mission
- This purpose of this initiative is to foster open discussions on the ethical use of AI in real estate appraisal. AI adoption is expanding rapidly, with new tools emerging at an exponential rate.
- AI offers potential significant efficiency gains in appraisal and valuation but also carries substantial risks. Generative AI can create compelling content, algorithms, and models, applying advanced data science to appraiser supplied or online sourced data. Risks include invalid modeling, incomplete data, and serious data privacy concerns.
- We invite all appraisers to join the conversation. Whether for or against AI use, this is not an adversarial initiative. The goal is to promote best practices within existing regulations and guidelines.
- This is not a promotion for the use of AI. It is an initiative to spread awareness of the concerns with appropriate and prudent use. While we may provide links or connections for educational or other resources, we are not promoting nor discouraging the use of AI in appraisal practice.
- To our knowledge, no group is solely dedicated to this initiative, though official associations and governing bodies may be having similar discussions. Where practical or appropriate, they may encourage their members to engage in this conversation. Given AI’s rapid evolution, we must act swiftly to stay on pace.
- Our initial goal is to grow through direct outreach and word-of-mouth, leveraging social media to start conversations and connect while developing a formal platform.
- This is not a compliance body or grievance forum but a space for meaningful discussions and collaboration. It is for those who understand the challenges, are willing to share insights, or want to learn how to use AI ethically, effectively, and in line with professional expectations.
- This initiative is appraiser-focused for appraiser members. While other industry partners play a role, our priority is to support and advocate for appraisers who focus on the ethical use of technology, including AI.
- Developing best practices for AI in appraisal is critical to the profession, the valuation industry, and ultimately, the public trust, and the stability of our economy.