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The increased use of AI across the industry has led the Real Estate Employers’ Federation to introduce a new policy aimed at helping businesses adopt the technology while protecting themselves.
The new Artificial Intelligence Usage Policy, developed by the Real Estate Employers’ Federation (REEF), in conjunction with law firm Baker McKenzie, will provide businesses with a framework for using AI responsibly while safeguarding themselves and their clients.
The REEF policy establishes rules for the use of approved AI tools and outlines workers’ responsibilities to protect information and act in accordance with the legal, ethical and professional obligations governing the real estate industry.
REEF CEO Bryan Wilcox told REB that the policy was established to ensure members are protected from both an employment law and a commercial risk perspective.
“AI brings enormous opportunities for productivity and service in real estate, but it also introduces risks, from breaches of privacy and legislation to insurance exclusions and brand damage,” Wilcox said.
“This policy puts up the right fences so employers can harness AI’s potential without leaving their business exposed.”
He said that when implemented correctly in conjunction with other relevant workplace policies, the AI Usage Policy would ensure that workers use AI tools that add value to the business.
Wilcox said the policy was designed to protect business owners by setting boundaries around the types of AI tools being used in the workplace and enabling employers to sanction employees for unauthorised use.
“Not all types of AI tools are appropriate or even safe to be used in the workplace, particularly when sensitive and personal data might form part of what is fed into the AI,” Wilcox said.
“This policy will give control back to employers about what AI tools may be used and who is authorised to use them.”
Wilcox said employees who expose businesses to unnecessary risks through the use of unauthorised AI could face punishment under the new policy, with sanctions and even termination.
Wilcox said the policy was requested by REEF members who were uncertain about the application of AI in their business.
“Our members told us that AI use in the workplace was becoming a blind spot, they didn’t know what tools their workers were using or what risks they were exposed to,” Wilcox said.
“This policy gives them the clarity, control and protection they need to embrace AI safely and responsibly.”
REEF said that adopting the AI Usage Policy and its training may help businesses meet privacy and cyber insurance compliance requirements
Wilcox warned that employers who ignore the “AI elephant in the room” risk breaching privacy laws, state and territory legislation, and franchise agreements while also exposing business IP and damaging their brand or reputation.
“AI isn’t going away, it will only become more embedded in our industry. What matters now is that businesses adopt it in a way that’s safe, lawful and commercially sound.
“This policy is designed to evolve as the technology does, keeping our members fit for the future,” Wilcox said.
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