Santa Clara County alone has 24 million property records, but the study team focused mostly on 5.2 million records from the period 1902 to 1980. The artificial intelligence model completed its review of those records in six days for $258, according to the Stanford study. A manual review would have taken five years at a cost of more than $1.4 million, the study estimated.
This is an awesome use of an LLM. Talk about the cost savings of automation, especially when the alternative was the reviews just not getting done.
Specialized LLMs trained for specific tasks can be immensely beneficial! I’m glad to see some of that happening instead of “Company XYZ is now needlessly adding AI to it’s products because buzzwords!”
This is exactly the kind of task I’d expect AI to be useful for; it goes through a massive amount of freshly digitized data and it scans for, and flags for human action (and/or) review, things that are specified by a human for the AI to identify in a large batch of data.
Basically AI doing data-processing drudge work that no human could ever hope to achieve with any level of speed approaching that at which the AI can do it.
Do I think the AI should be doing these tasks unsupervised? Absolutely not! But the fact of the matter is; the AIs are being supervised in this task by the human clerks who are, at least in theory, expected to read the deed over and make sure it makes some sort of legal sense and that it didn’t just cut out some harmless turn of phrase written into the covenant that actually has no racist meaning, intention or function. I’m assuming a lot of good faith here, but I’m guessing the human who is guiding the AI making these mass edits can just, by means of physicality, pull out the original document and see which language originally existed if it became an issue.
To be clear; I do think it’s a good thing that the law is mandating and making these kinds of edits to property covenants in general to bring them more in line with modern law.
