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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Original Message:
Sent: 05-29-2024 11:48
From: Janis Gaines
Subject: AI In the Title Industry
Siri, text Jan. Alexa, turn on the lights. Google, who played 3rd 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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