Search Acumen invites conveyancers to take part in ChatGPT testing Mortgage Finance Gazette

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Search Acumen has begun a ChatGPT software beta pilot with its conveyancing database platform and invites law firms to take part in further testing.  

Andrew Lloyd

The proptech firm says the US artificial intelligence chatbot has already been integrated with vast volumes of its land and property data, which spans over 500 data layers, to answer a selection of complex and varied conveyancer queries in an instant.  

It says: “In a property transaction market where conveyancers are under increasing workload pressures, as caseloads mount while staff are squeezed, such innovation for the industry is likely to be welcomed as a key tool in reducing human error, as well as saving crucial time and money.”  

The business calculates that the chatbox will save the average law firm 115 hours a month through automation, while the sector as a whole stands to save over eight million hours each year by fully using digital systems.  

It points out that HM Land Registry last month called on conveyancing firms to reduce the number of “avoidable errors” on registration applications.   

The government agency reported that, of one million requisitions sent to it last year, more than half “involved one or more issues that could have been avoided”.   

This resulted in application delays of two weeks, for simple cases, or more than six weeks for complex applications.  

Search Acumen managing director Andrew Lloyd says: “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.”