OSCRE International recognizes the transformative potential of artificial intelligence (AI) in the real estate industry. This technology will accelerate the industry’s use of data, and expand the benefits derived from a standardized and governed data model that enables AI to learn more efficiently, reducing the risk of inaccurate and discriminatory outcomes. We remain committed to the development and continual improvement of the OSCRE Industry Data Model™ (IDM) to provide a firm foundation for employing AI technology and associated ethical implications. OSCRE’s mission, To enhance real asset data through unified standards and knowledge, compels us to acknowledge our shared obligation to employ responsible AI technology that emphasizes the following principles to govern the use of AI:
- Be secure and trusted
- Be reliant on a standardized data model
- Be beneficial to society
- Be respectful and protective of human values and privacy
- Be fair & unbiased
- Be understood and transparent
- Be accountable to people
This policy statement underscores OSCRE’s commitment to advancing data standards and AI integration in the real estate industry while prioritizing collaboration, education, continuous improvement, and accessibility. By adhering to these principles, we commit to support a more transparent, efficient, and sustainable real estate ecosystem for all stakeholders.
– Approved by the OSCRE Board of Directors 7/23/2024