Real AI: Chatting with the ChatGPT app, real estate agents and Chatbot privacy dilemma, headlines and an AI Quote of the Week

Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate.

Chatting with the ChatGPT app

A splash screen inside my ChatGPT app on my iPhone 14 recently popped up, inviting me to select a "voice." Its prompt was that I could converse with ChatGPT rather than a text search.

So, I went into Settings, which is a little tricky to find. First, go to the top left of the screen and tap the two uneven bars. Then look at the bottom left of your screen and tap on the three dots across from your account icon—that's the one with the two large letters and your name—and it will display your ChatGPT Settings.

Under the "SPEECH" section in Settings is "Voice" – give it a tap.

Currently, there are five voice choices to choose from, all with object names: Breeze, Sky, Juniper, Cove, and Ember. Touch to play the voice, pick the one you want, and touch the "Confirm" button on the bottom to save.

Close out and tap the ChatGPT logo at the top left, and you will be back on the main "Prompt" screen. To enable a conversation, look at the bottom right corner of your screen, next to where you usually type a prompt and tap the headphones icon to begin your chat with ChatGPT.

From personal use and observations, like all things AI-related today, we are in the very early stages. There's quite a bit of lag time when processing a conversation, which I am sure will improve. The lag is annoying because when you talk to other talk-to-text or translation apps—like Otter or Google Translate—the response is instant and in real-time.

Clearly, ChatGPT is still perfecting this feature, which is probably why the setting to turn it on is so hard to find. I imagine the app also does a lot of behind-the-scenes processing to use the chat feature. At times, it feels like I may be able to enter the same prompt by text and get a faster result. I am sure that's just a perception because we are in an "I want it now" phase when using tech.

Regardless, the impact for real estate agents on the go could be massive. This feature will be wickedly valuable when it is ready for prime time. We wrote early about how we knew that voice commands would replace text, and now we are getting closer.

Think about the potential value of being able to Chat with ChatGPT at will, and not just on your phone, but your desktop and smart devices. Imagine if ChatGPT was built into CarPlay. How much more productive could you be when driving? Agents still spend a lot of time in their cars, and having the power of chatting with ChatGPT, well, that will be just the beginning.

The chatbot privacy dilemma

Axios, our favorite all-things-AI news source, published a follow-up story this week on the challenge employers continue to face: keeping confidential information out of ChatGPT and other chatbots.

The problem is it's a catch-22: Employers benefit when workers use AI, as it can significantly boost productivity and save their staff time. That can quickly add up to a huge increase in profitability for firms. But when employees share confidential information about their company, it could potentially expose employers to tremendous risks—both competitively and financially.

Techopedia also points to a study from 1Password that "found 92% of security professionals have concerns about generative AI, citing issues like employees entering sensitive data, using AI trained with malicious data, and falling for AI-driven phishing attempts."

The study also found that 22% of employees said they used generative AI despite violating company rules.

This brings us to real estate agents and their brokerages. Nearly all agents are independent contractors, which means they get to pick and choose the tech they want to use, including generative AI like ChatGPT.

It's nearly impossible for brokerages to put guardrails in place to protect them from the use of Gen AI by their agents, just like it's almost impossible for them to fully regulate the use of their brand (think brokerage logo, colors, and designs of promo materials) by agents.

But now the risk isn't just to the brokerage's image: it could also potentially affect the brokerage's pocketbook.

Think about the publicly traded brokerages, the thousands of independent agents who hang their licenses with them, and the risk of confidential information being input into ChatGPT.

Some may argue that agents are not privy to inside information, and while that may be true, they do know about many things a brokerage does not—and does not want to—share publicly.

If regular companies face a dilemma controlling the use of Gen AI among employees, consider an industry that has been among the first to broadly adopt this new tech, which is staffed almost entirely by independent contractors.

How risky is that, and what will brokerages do about it?

AI Fast Facts

• Only 22% of customer service providers have adopted generative AI to their business – Amdocs
• Among "AI high performer" companies, 25% say their complete system is equipped with an AI monitoring and alerting system, compared to 12% of other companies – McKinsey
• Less than a third (28%) of organizations are extensively using AI cybersecurity measures – IBM
• 46% of business and cyber professionals say that their biggest concern about the impact of generative AI on cybersecurity is the increased capabilities in phishing, malware, and deep fakes – Statista
• 39% of companies surveyed said automation and generative AI is the most relevant investment for business growth, with 33% saying flexible and hybrid work is the most important – Dell/IDC

Source: Atera

AI Headlines – Take 5

Zillow exec talks using AI to optimize home buying process | 4/4/24 - The GW Hatchet
Hyperbolic claims by Zillow exec on its use of AI, including Zestimate error rate now at 2%

Recruiters turn to AI in their quest to lure top agents | 4/2/24 - HousingWire
Tech-based vendors are utilizing AI to streamline recruiting for real estate firms.

Business Schools Add AI to Curriculum | 4/3/24 - PYMNTS
More top-tier universities like American University and Duke are teaching students to use generative AI.

NYC's AI chatbot was caught telling businesses to break the law. The city isn't taking it down | 4/3/24 - AP
The darker side of AI is revealed when a faulty AI language model is utilized.

Using data science and AI to answer the need for speed in uncertain times | 4/2/24 - Altus Group
One of the many key sessions at the New York Urban Land Institute spring meeting next week.

AI Quote of the Week

To view the original article, visit the WAV Group blog.