AI: Friend or Foe?

Last week, I had the pleasure of attending a Ray White training day, where Seth Watts from Campaign Agent delivered a presentation that was a real eye-opener. It showcased the diverse AI technologies now available to our industry, from calendar management assistants to AI-generated videos, podcasts, and even AI-powered cold calling. What a game changer!

The Pros and Cons of AI

So, what are the pros and cons of integrating AI into our industry? The benefits are numerous, particularly in terms of time-saving. Seth succinctly put it: "If you need to think, then let AI do it for you." AI can automate mundane tasks, freeing up time for more critical, creative, and strategic activities. Tasks like scheduling appointments, managing emails, and even generating content can be handled efficiently by AI, which allows us to focus on what truly matters—building relationships and closing deals.

However, it's important to recognize that much of this technology is still in its infancy and will need time to mature. For instance, while having AI make your cold calls sounds appealing, I believe the technology isn't quite there yet and might put off potential sellers. The human touch is still irreplaceable in many aspects of our work. AI lacks the nuance and empathy that a human voice can convey, which is crucial when establishing trust with clients.

My Personal Experience with AI

I spent the weekend experimenting with some of these tools, and it's astonishing to see what AI can achieve. I tested various AI applications, including virtual assistants that manage my calendar, AI tools that create personalised video messages, and even AI software that drafts email responses. Each tool had its strengths and weaknesses, but collectively, they demonstrated the transformative potential of AI.

The virtual assistant was particularly impressive, managing my appointments seamlessly and sending reminders without any manual input from me. The AI video tool was another standout, allowing me to create professional-looking videos in minutes, which would have taken hours to produce manually. However, the AI cold-calling tool still needs improvement. While it could follow a script flawlessly, it struggled with unscripted interactions and failed to build rapport with potential clients.

The Future of AI in Our Industry

Although I'm far from an expert, I'm more than happy to jump online and share some of the basics with anyone interested. The learning curve can be steep, but the benefits of understanding and integrating AI into our workflows are undeniable. AI is not just a passing trend; it is a fundamental shift in how we operate. Embracing this technology early can give us a significant competitive advantage.

AI is here to stay, and while it may be easy to dismiss it, my advice is to get in early and start learning. There's no doubt that AI is the future for all of us. By staying ahead of the curve, we can harness the power of AI to enhance our productivity, improve our services, and ultimately, drive our success in an increasingly competitive market.