Henry Scott, Partner at StephensonsRural, explores how artificial intelligence is being adopted in surveying and valuation - and why expert knowledge remains essential.
The second state visit of the US President, Donald Trump, this month has neatly coincided with the announcement of £150 billion worth of US investment into the UK economy.
A large proportion of the inward investment comes from the major tech companies of Microsoft, Google and Nvidia, as part of the ‘Tech Prosperity Deal’. In the words of the Nvidia boss, Jensen Huang, the UK is set to become an ‘AI superpower’.
Artificial intelligence (AI) is no longer a futuristic concept but rather a phenomenon that is here to stay and, will no doubt, impact us across all walks of life. When StephensonsRural celebrated its 150th year in business in 2021, our strapline was ‘Embracing changes through the years’, and this could not be more appropriate.
As surveyors and valuers, we embrace the technology of AI, for example, in supporting the preparation of our valuation report writing and other specialist fields. No doubt, the use of AI will only increase, as we adapt to changing technologies which will ultimately enhance our efficiency and decision-making.
However, we do need to balance the risks and opportunities that are presented to us as a consequence of AI. Our professional regulator, the RICS (Royal Institution of Chartered Surveyors), has already launched the first global professional standard for the responsible use of AI in surveying practice, which are set to take effect on 9 March 2026.
We, therefore, must embrace the use of AI in our profession with cautious optimism and within the framework of our regulatory guidelines. My appraisal to date is AI provides efficiency and resource benefits to our clients, particularly for our RICS valuation and report-writing.
However, AI does not provide all the answers and, as a longstanding colleague keeps reminding me: valuation is ultimately an art not a science, and there is no substitute for expert knowledge and experience, which reassuringly, our team at StephensonsRural hold in abundance across the rural sector.
N.B. 'This article was written without the assistance of AI'