ChatGPT is an artificial intelligence chatbot which is designed to interact with people in a conversational way and give detailed responses to queries.
The testing will be available to a few firms at the outset and will be the first time the technology has been used in this way.
Using machine learning (ML), ChatGPT has already been trained to use Search Acumen’s land and property data to answer pre-populated questions as well as more complex queries.
Search Acumen said it would resolve long-standing challenges faced by conveyancers, particularly in a market where they are under increased workload pressures.
This is expected to fast track the property transaction process and according to analysis done by Search Acumen, which will save firms 115 hours a month.
Reducing errors
Search Acumen has repeatedly made calls for the digitisation of the conveyancing sector and last month, HM Land Registry told firms to stop making “avoidable errors” on registration applications.
It claimed that of the 1m applications submitted in 2022, more than half had one or more issues which would have been avoided and this resulted in delays.
Andrew Lloyd, managing director at Search Acumen, said: “The integration of ChatGPT opens a gateway to further modernisation and technological advancement. Its time-saving abilities for crunching data and reports in an instant should not be underestimated by lawyers. We are encouraging firms to get in touch if they would like to be involved in beta testing at this stage, ensuring conveyancers stay at the heart of what we do.
“While we note the transformative potential of the chatbot and its invaluable use in automating tasks that do not require the application of nuance, it is those higher-value tasks which require human expertise that cannot be replicated by a machine.”
He added: “It’s unlikely 20 years of sector knowledge, nor the ability to negotiate, will ever be truly replicated. It will be businesses that embrace technology and use it to meet consumer expectations that will prosper over others. For this reason, we truly believe ChatGPT is an excellent complement to conveyancers, who will always be central to our vision for innovation.”
