While AI is a sweeping topic, we need to look back. Look back at the fundamentals of appraisal theory and what makes a good valuation different from a bad valuation. In exploring this “goodness,” we must consider all the topics and concepts that have entered the world of appraisal – Automated Valuation, Data Science, and […]
AI: Panacea or Pall? AI is the first of our four topics: AI, AV, DS, and BS. (See part zero for a review.) The capability of AI continues to increase. It seems the capability is defined not by the machine itself. Rather, it is defined (so far) by the human ability to harness the smart […]
AV (Automated Valuation) is the second of our four topics in the discussion on The Big Four: AI, AV, DS, and BS. (Read the earlier blogs here.) Why these four topics? Because they cover the whole of the mechanical part of appraisal. It is my position that when good mechanics are in place, issues of […]
Why is Data Science important for your future? The Big Four Part 3 — DS? (Read the earlier blogs here.) Easy. AI is on the way. It’s gonna be OK. UAD 3.6 is here and forces more detail in development and analysis. Appraiser judgment requires a deeper logic with more detail. Algorithms can be automated, […]
So how credible is your appraisal? [or Death of a Profession] We need to look at this “how credible?” thing. Maybe a “Believability Score”! USPAP says credible is “worthy of belief.” Ah ha! Explained. We just need to measure “how worthy” is your opinion. A worthiness measure! Just what our appraisal user/clients need. So that […]