Using artificial intelligence with a growth mindset.

Artificial Intelligence (AI) has already become an integral part of all of our lives, revolutionising many industries. Its role within the property sector is in its infancy but it will, undoubtedly, play a huge part in everything from reading, correcting and creating complex legal documents to providing the interface between industry professionals and customers and clients.

However, the Utopian dream of many to replace estate agents by unlocking AI’s full potential will require more than just technical expertise; it will demand a growth mindset with a focus on continuous improvement and a significant amount of bullsh*t checking!

A growth mindset, as conceived by Stanford psychologist Carol Dweck and colleagues, emphasises the idea that skills and knowledge can be developed through hard work and dedication. Unlike a fixed mindset, which assumes that abilities are unchangeable, individuals with a growth mindset embrace effort and view challenges as opportunities for learning and growth. Fostering this mindset will be crucial for effective AI development and we must ensure we look to question and critique the outputs that are part of this process as the track record so far is mixed, to say the least!

When raising a child, a parent or guardian doesn’t wait until they’ve mastered every skill before allowing them to explore the world. Similarly, AI benefits from early deployment. Instead of hoarding data behind closed doors, organisations are putting AI to work in real-world scenarios. This approach generates valuable feedback and enriches the algorithm with new data. Just as a child learns to ride a bike by getting on it, experiencing falling off and going again, AI learns by actually doing but there has already been many a scraped knee so far!