AI In the Title Industry (2024)

Siri, text Jan. Alexa, turn on the lights. Google, who played 3^rd base for the Atlanta Braves in 1972?

There are so many applications for AI, with more being introduced every day. Our lives are made much more convenient with technological advancements. We use this technology in our day-to-day lives, but should it be part of the Title industry? If so, how?

Some settlement software platforms are touting AI as an efficient way to reduce repetitive tasks (think inputting a new contract). AI can also draft email responses, compile reports, and many other functions. We are told the highest functionality will come when the AI is embedded into existing software.

But what security and privacy concerns need to be addressed? What level of training will be required? What other issues that we're not even aware of yet could arise? While AI has many uses, it cannot reason, so how will the nuances of our industry be interpreted?

AI: friend, foe or some of both?

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Janis Gaines
Real Estate Closing Path
Kennesaw GA
+1 (678) 331-4731
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Janis:

I think is a bit of both, while it makes things easier in certain aspects, the concern for privacy an security is there, is like you are being spied on constantly, and also the reliance on AI is insane, in a way, I think AI is a little overrated, overused.

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Mary Enzi CAA
Tax Solutions – FIRPTA Consulting
mary.santiago@taxss.com
+1 (281) 578-1040
Barker TX
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David:

I share your feelings; it is frustrating and like you said embarrassing, withholding certificates are taking between 10 to 14 months it is ridiculous, so far is no longer an option, you get your refund by filing a tax return sooner than you get an approved withholding certificate.

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Mary Enzi CAA
Tax Solutions – FIRPTA Consulting
mary.santiago@taxss.com
+1 (281) 578-1040
Barker TX
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AI is my best friend:)

Mo Choumil

People are too easily swayed by the fact that it is easier and allows us to avoid mundane tasks. While it is true that people can make errors while doing such mundane tasks , never forget that we are legally liable for any mistakes that AI makes when doing these or other tasks.

We are also liable for leaks of NPI and other confidential matters, even if the leak is inadvertent. Adding another outside cyber entity to the mix does not make it more secure. Where does this info go and reside while it is doing this task and is it completely erased when it is done? All of it may be secure, but how do we know? Any time information is out of our control it is vulnerable.

Maybe I am too old school and set in my ways, but I see lots of potential pitfalls in this technology that may people are willing to overlook for convenience.

Rawleigh

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J. Rawleigh Simmons
Manager
River Title & Escrow, LLC
Warsaw VA
+1 (804) 333-0195
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When online banking first became popular in the mid-1990s, my sister and I got into a heated debate about security risks. Her argument was that by signing up for online banking, she would be placing her banking records on the internet. My argument was that her banking records were already on the internet via the financial institution's banking system. In the end, we agreed to disagree, and my sister vowed to never register for online banking. Cut to the present, and I can't help but laugh and make fun of my sister as I watch her manage her entire financial life from her cell phone in the middle of a crowded airport.

If history is any indication, AI in the title industry is as inevitable as the internet and online banking. Eventually, we will wonder how we ever did without it.

Since Alanna.ai is an AI-powered virtual assistant for Title Companies, we've spent the past five years training Alanna to understand Title Talk across multiple states. To me, AI feels like an alien intelligence-neither friend nor foe. It all comes down to its training data, as AI doesn't have a moral compass or "soul." Essentially, it's a versatile technology that mirrors the intentions of its creators.

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Hoyt Mann
President
Alanna.ai
McKinney TX
+1 (469) 361-6965
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• We are in the 5th Industrial Revolution. Some of us are Innovators, Early Adopters and others are Late Adopters or even Laggards. Each having it's own set of pros/cons. (My parents were laggards in getting a microwave! I've watched pots boil.⏲️🍲)
• AI is math. Some of it's simple, some complex, sometimes mind-boggling.
• Consider...what you plug in, where it pulls from, what it comingles with, types of models, how it iterates, all comes into play. AI has non-human abilities to ingest massive amounts of data, and go lightning fast. (Yet bad data, poor modeling, etc. can be damaging.)
• Curious? Learn more about what AI is from a technical perspective - see post - AI is Math.

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Denise Williams MBA
President
Real Document Solutions - RDS
Saint Louis MO
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