Virginia Beach, VA | Last year, when ChatGPT was introduced in the market, it was a significant step forward in the use of Generative AI. Recent advancements in Artificial Intelligence (AI) have made it possible for all types of companies to utilize more powerful AI models in their operations. At Rynoh, we recognize the enormous potential of AI to enhance user experience and revolutionize real estate transactions. This new technology presents a plethora of exciting possibilities.
At Rynoh, we have been exploring the advantages of incorporating Generative AI into our work. However, we are highly concerned about ensuring the safety and accuracy of our users’ data. As Generative AI is a rapidly advancing technology, we have established a set of internal guidelines for identifying, developing, and deploying new features. Our Product Development and Engineering Teams have created a set of operational principles that will guide us in implementing Generative AI-powered features, ensuring secure and efficient usage for our users.
Using AI to Validate Client For Account Verification
In light of the potential benefits Generative AI can have on productivity, we determined it was necessary to explore how its application could best serve our customers. Our primary goal when considering potential applications of Generative AI within our suite of products is to identify [add Stephanie’s Info].
As an example, we used Generative AI to extract unstructured data from a document and convert it into structured data. By converting information into structured data it can then be automatically pulled into an open order, and new features can be developed to provide recommendations for smart actions and workflows. This application of the technology dramatically reduces time spent manually rekeying information into the system and reduces the risk of human error in the process.
Our Philosophy to Innovation
We are of the opinion that Generative AI has the potential to revolutionize the way people work across various industries, including real estate. However, we are treading carefully and taking a measured approach towards implementing Generative AI. Our primary objective is to develop effective applications of this technology for real estate transactions, while ensuring the safety and security of all customer data in our products. We are enthusiastic about the possibilities that Generative AI can bring, and we look forward to exploring the future of real estate transactions together.
About Rynoh
Founded in 2007, Rynoh is a patented, cloud-based financial management and fraud prevention system that has revolutionized escrow account management practices. Since it was introduced, Rynoh has identified and prevented escrow theft, wire and ACH fraud, stopped employee embezzlements, eliminated check fraud and disbursing errors, and has saved our clients millions of dollars. Rynoh seamlessly integrates with your accounting software programs, such as QuickBooks and Microsoft Dynamics Great Plains to provide the industry’s top financial security software solution. We offer continuous end-to-end accounting auditing, daily reconciliation, transaction monitoring, anti-fraud algorithms and built-in automated reporting.
Media Contact:
PJ Yates, Head of Marketing
pj.yates@rynoh.com