Resources that utilize artificial intelligence, like AI Customer Support, have impacted the title industry in a big way. Technology such as chatbots and virtual assistants bring a company’s clients closer to them and allow for things such as real-time interactions and automated alerts. Over the past ten years, consumers have become so used to these services, they’re now expected of businesses who must provide customer service.
AI-powered tools have proven to be a valuable customer service resource for real estate title companies. With a virtual assistant in place, the closing process goes over much smoother and clients can get the information they need 24/7. Furthermore, title agents can concentrate on complex issues instead of attending to menial tasks. If you own a title company, integrating AI into your infrastructure is the key to maintaining an edge on your competition. However, there are some obstacles you’ll need to overcome when transitioning to AI. Let’s go over four.
One of the biggest obstacles facing businesses trying to incorporate AI-powered resources is getting them to work with their current system. For example, if a virtual closing assistant tries to send a client to a title agent, a title company needs to ensure there’s one available to field the inquiry. This may require a shift in the way the office operates. Furthermore, AI-powered resources could cause problems with an office’s existing computer system. To avoid this, it’s important to work with a provider who can oversee the entire installation process.
Internal Bias Toward AI
Many people still think of artificial intelligence as a bad thing. Employees may feel these tools will eventually replace them, leaving them out of a job. For a title company, this simply isn’t true. An AI-powered virtual closing assistant will only provide needed support. In fact, employees will find that having AI in place makes their jobs much easier. Title agents can turn to a virtual assistant for information and documents related to a closing. The virtual closing assistant can also send calendar alerts so deadlines aren’t missed.
Convincing Executives of Cost-Effectiveness
When the decision to implement AI is up to top executives, it often gets vetoed due to financial reasons. However, while AI-powered technology requires an initial investment, the organization often saves money in the long run. Reducing errors, speeding up the title closing process, and eliminating the need to hire administrative staff all equal cost savings. Executives will need to be presented with these benefits while making their decision.
Technical Learning Curves
Employees may feel intimidated when forced to learn new technology. This could create frustration and even resentment toward the new resources. However, with artificial intelligence working behind the scenes, this technology is easy to learn. In fact, virtual closing assistants do much of the work for you. All your employees will need is a short training period and they’ll be up to speed in no time. They’ll probably end up loving their new customer service resource.
Don’t Be Afraid to Integrate AI
If your title company needs a support tool that helps streamline the closing process, AI is the answer. Just remember to keep the AI customer support obstacles discussed above in mind so you know what to expect.
Alanna.ai develops flexible software with AI capability to companies in the title industry. To learn more, request a demo today.