AI: Improving Governance, minimising Risk and ensuring Compliance
There’s no denying the impact of AI. Its presence is everywhere: at work, in schools and in homes. But what does this mean for the housing sector?
On the 17th of October, Convene hosted a Housing GRC Network Webinar to give valuable insight into AI and how it can complement the approach to Governance, Risk and Compliance.
The hosts, Arturo Dell and Gemma Walford, began by asking the attendees what their ‘Wow moment’ with AI was? The consensus was that it was fast, smart and efficient.
Machine learning and generative AI
As an overview, Arturo explained the characteristics of Machine Learning and Generative AI.
Machine Learning | Generative AI | |
| Also called Narrow AI as it works in specialist areas | Can create new content based on its training data | |
| Years of usage across multiple sectors | It’s been less than four years since the launch of ChatGPT | |
| Can work with smaller datasets | Concerns around hallucinations and its impact on critical services | |
| Models are more understandable and less obscure | Great potential in summarisation of meetings, generating new content and increasing productivity | |
| Can be used for predictions, descriptions and recommendations | Generative AI is non-deterministic (stochastic) |
AI in the housing Sector
Machine learning has been used in the housing sector for:
- Risk verification – rent arrears prediction
- Customer segmentation – to personalise services
- Damp and mould – to predict properties at risk
Some examples of more recent uses of AI include:
- Computer vision – deciding which roofs to repair using predictive analytics
- Complaints – understanding the tipping points for complaints
Using this technology in the housing sector can be a powerful tool to reduce cost, save time and increase overall efficiency. But like any other tool, you should understand how to use it.
Arturo referred to Co-Intelligence by Ethan Mollick as a guide on how to use Artificial Intelligence.
- Incorporate AI
- Be the human in the loop
- Treat AI as a person but tell it what kind of person it is
- Assume the AI you’re using is the worst you’ll ever use because the updates are frequent
Convene AI
At Convene, we believe that this technology should extend to the board room. Building new homes, providing social housing and overseeing specialist housing are only a few of the responsibilities of housing associations.
In the housing sector, fulfilling regulations isn’t just important. It can be life-saving.
With Convene, you can ensure that your board remains productive. Book a demo now to enhance board governance.
As Convene is integrated with Teams and Zoom, you can host board meetings on the platform of your choice.
To streamline your board efficiency, we have an AI Summary feature where the main points from the meeting are presented in a clear manner.
With Convene AI, you can see who was present, a timeline for action taking, the sentiments and the decisions made during the meeting.
It can also provide you with suggestions of what directors can do to achieve the next goals.
Scanning through documents can be time-consuming. With our portal, you can search for keywords when you want to focus on specific ideas or ask the Companion to summarise it with the appropriate headings.
There are many AI options to choose from, so why choose Convene? Sensitive information should be kept safe. Data protection is our priority. Convene ensures the board documents you upload and the information you share with our AI is secure. Why not keep all your important documents in one secure place?
At Convene, we believe in innovation. Improving Governance, minimising Risk and ensuring Compliance is about taking action. Our software ensures that your board is prepared, focused and a step closer towards their next goal.
Future events
Register for our upcoming webinar to learn about being ‘Regulation Ready’ and secure your spot today.
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