Hot Topics Flashcards
Ethical concerns with AI for valuation?
-Relies on data that could be inaccurate
-Doesn’t deal with abnormals
-Need to compliant with RICS Standards by having transparency of how valuations or fees determined
Harris Debate 2024 is?
Annual RICS event, platform to address ethical concerns in surveying/vauation
2024 focused on AI ethics on valuation
Impact of AI on construction?
-Can help contractors on estimating process with data processing of large tender packs
-AI cameras to scan sites eg someone forgets to wear helmet
-Sensors for plant/machinery replacement
-Modelling software for lighting, HVAC, security
Bichard Review recommendations?
-Re-emphasise importance of public interest/advantage with changes to royal charter and establish public interest panel
-5 year reviews against charter meeting public advantage
-Standards and regulations board only focus on regulatory operations
-Simplification of governance structure e.g RICS Board as the only overseer of day to day operations
-Greater delegation and support to regional boards
-Development of professional group panels to lead advancement of knowledge
-Stronger voice for young members through Matrics
-Commercial activity separate as RICS is a professional body
-Diversity and Inclusion Panel
-Framework to set out responsibilities and governance of Standards and Regulation Board.
-Reaffirm commitment to work in the public interest and for public advantage and reviews
-Improve technology
-Fund to support those in underrepresented communities funded by sanctions from Regulatory Tribunal
-Make it clearer how to seek independent redress
-Leadership on climate change
Building Safety Act 2022
-Hackitt review after Grenfell fire 2017
-Ensure high rise/multi occupancy residential buildings are designed, constructed, managed safely
-Applies responsibilities to owners, managers, designers, contractors, developers
-Key duty holders are Client, Principal Designer, Principal Contractor and contribute to fire safety
-These duty holders responsible for golden thread ‘ of information to hand over to client on fire safety
-Act overseen by Building Safety Regulator
-‘Responsible Person’ for fire safety
-Primary legislation
