By
Robert Pinedo and Knowledge Coop Development Team
Jan 12, 2024
By
Robert Pinedo and Knowledge Coop Development Team
Jan 12, 2024
By
Robert Pinedo and Knowledge Coop Development Team
Jan 12, 2024
Artificial Intelligence, or more specifically natural language processing, has been in the news quite a bit recently. You have no doubt seen some doomsday-type headlines about the impact it is going to have on your job. The programs we see today are unable to truly think creatively, but are being used to automate and improve previously mundane tasks.
Working in the mortgage space can be filled with mundane tasks whether you are an LO, Underwriter, or a Processor. At the Knowledge Coop, we are here to say that AI is here to help you with those mundane tasks, not take your job. That’s why we have put together a guide to help you use and prompt AI more effectively, to help you reap the rewards of AI and stay ahead of the game.
Remember, AI can only work with what you give it. Often, it is best to do your own research before you come to an AI assistant for insights. Having better information about what you are creating is going to give you better outputs from the assistant.
Our AI model works best if you ask it the questions that matter most to closing your loan. For example, you might want to ask Coop AI questions like “Can gift funds be used for the down payment or closing costs?” or “Can I use income from a second job?”
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AI can be a huge help when it comes to writing copy, and in the most advanced versions can even create visuals for you. Questions like “Write me a marketing post for LinkedIn that mentions the dropping interest rates” can yield impressive results from assistants like ChatGPT. You might be able to write a highly optimized social media post with no marketing experience whatsoever, given that you prompt these assistants clearly.
Make sure to use AI platforms responsibly, and if something seems incorrect make sure to double check a trusted source. Above all it is always best to use your best judgment and never rely solely on AI for answers to critical questions.