Search Acumen, the data provider for conveyancers, has launched a trial of ChatGPT integration into their existing AI portal in an attempt to fast-track the property transaction process.

The Artificial Intelligence (AI) chatbot will be integrated into their existing data-led portal for lawyers, positioned to rapidly automate parts of the conveyancing process. Search Acumen’s testing, available to a select few firms, will be the first time the tool has been used for this function in the sector.

Using Machine Learning (ML), ChatGPT has already been trained to use vast volumes of Search Acumen’s land and property data, which spans over 500 data layers, poised to answer both a selection of pre-formed questions for ease, as well as bespoke complex and varied conveyancer queries in an instant.

It is hoped that its use will provide solutions to long-standing industry challenges for conveyancers. Search Acumen research calculated that the average firm stands to save 115 hours a month through automation, while the sector as a whole stands to save over eight million hours each year through end-to-end digitisation, allowing lawyers to focus on what they do best.

Search Acumen’s vision has always been to digitise the property market, with its first Machine Learning application receiving industry recognition as thought leaders in the property data space. The introduction of ChatGPT to their already forward-thinking approach to conveyancing will bring the industry yet another step closer to a more efficient and streamlined approach to property sales.

Andrew Lloyd, MD at Search Acumen, commented: “The integration of ChatGPT opens a gateway to further modernisation and technological advancement. It’s 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. 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.”