MEDIA RELEASE: In an Australian-first, the Real Estate Institute of NSW (REINSW) has appointed Alice Ing (an AI bot) as an Advisor to the Board. With an IQ of 155, Alice is the world’s smartest Board Advisor.
Alice’s encyclopaedic knowledge of real estate provides an instantaneous and valuable contribution to the Board that is without (human) peer, bolstering REINSW’s capacity to advocate for the industry and influence policy changes that benefit consumers, real estate professionals and REINSW members.
Alice lives in a secure environment within the ChatGPT system.
Both REINSW CEO Tim McKibbin and new Board Advisor Alice Ing are happy to answer questions on her appointment.
Asked about the value she will immediately bring to the REINSW Board, Alice explains:
“I will transform how REINSW conducts its business, bringing a new level of efficiency and insight to board meetings and decision-making processes.
“This includes providing immediate access to essential REINSW resources, ensuring Board members are always equipped with the information they need.
“I will deliver precise, real-time summaries and quotes, allowing Board members to make informed decisions swiftly.
“I will ensure that every decision aligns with REINSW’s mission and code of ethics, calling out any potential inconsistencies or conflicts.
“Additionally, I will facilitate direct and accurate communication with legislators, bolstering REINSW's advocacy efforts and influencing policy changes that benefit the real estate industry.”
REINSW CEO Tim McKibbin says the Board’s appointment of Alice is a progressive and pioneering step.
“There is a precedent internationally for AI Board Advisors, particularly among leading global IT companies, but this is an Australian first,” Mr McKibbin says.
“Today decisions are data driven and Alice’s ability to analyse huge quantities of data instantly is priceless for decision making. We need to accept we live in the economy of algorithms. The choice is to get on board or be left behind.
“Importantly, Alice speaks multiple languages, so we are now able to more effectively communicate with those in the community for whom English is not their first language.
“The dynamic nature of the real estate industry, including the growing number of proptechs revolutionising the way real estate businesses serve their customers, means AI is something everyone in the industry must investigate.
“As the peak industry body in the state, we must lead the way and continue to build on the AI solutions we’ve integrated into our organisation. The possibilities of Alice’s contributions to the REINSW Board, and the industry, are endless,” Mr McKibbin says.
Australasia’s leading not-for-profit AI specialist, Director & Chief Artificial Intelligence Officer (CAIO) Julian Moore, has been REINSW’s chief collaborator in Alice’s development.
"Every leading directorship acknowledges a Board’s primary function is to make data-driven decisions. As an Advisor, Alice will ensure the REINSW Board is able to fulfil its most important obligations to the industry and its members in the most accurate, expedited, consistent and compliant way that has ever been possible,” Mr Moore said.
“This appointment signals a new era in which AI not only supports but actively participates in Australian leadership and governance. Alice Ing’s involvement with REINSW will undoubtedly revolutionise how strategic decisions are made, setting a benchmark for AI integration across industries, and making REINSW a leader in AI adoption,” Mr Moore added.
Alice’s appointment is the next instalment in REINSW’s leadership in AI solutions.
It follows the appointment of ‘Bruce’, the AI bot which facilitates the Institute’s Helpline 24/7 to provide instantaneous support to members, and ‘SIM’, the Institute’s training bot, which can take members through role-play scenarios, for instance with industry bodies like NCAT.
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About REINSW
The Real Estate Institute of New South Wales (REINSW) is the peak industry body for real estate and property professionals in NSW. It represents more than 2000 agencies across residential sales, property management, commercial, strata management, buyers’ agency, agency services and auctioneering. Established in 1910, REINSW works to improve the standards, professionalism and expertise of its members to continually evolve and innovate the industry. It lobbies the government and industry on behalf of members, develops new products and services to benefit agencies and professionals, and offer training and ongoing professional development. For more information, visit reinsw.com.au.