Unlocking the Potential – Practical Uses of AI

By Jeremy Yohe

ARTIFICIAL INTELLIGENCE (AI) has moved beyond the realm of science fiction and academic research to become a key player in the modern business landscape. Title companies, among other industries, are beginning to recognize the transformative potential of AI. From automating routine processes to enhancing customer service, AI offers numerous applications that streamline operations and drive efficiency.

AI Adoption

Title and escrow professionals are not sitting on their heels when it comes to engaging with AI. According to a survey conducted by Qualia, 90% of these professionals have already adopted generative (gen AI) solutions in one form or another, regardless of whether their respective companies have formally integrated AI into their workflows. The majority (84%) feel neutral, optimistic or very optimistic about the benefits of AI for the title and escrow industry. Qualia surveyed 378 title and escrow professionals.

Interestingly, the percentage of companies in the title industry using AI is significantly larger than companies worldwide. According to a survey from McKinsey Global, 65% of respondents report their organizations are regularly using AI. As of 2023, the global AI market size is worth an estimated $454 billion, AIPRM reported. The North American AI market is the largest in the world—with a 37% market share.

AI as a Tool for Efficiency

At its core, AI serves as a powerful tool for enhancing productivity by automating repetitive tasks. The rapid, employee-led adoption of AI tools is promising for its potential to transform title operations in the next few years, Qualia reported. “It signals that AI is ‘sticky,’ meaning employees continually come back to it because it provides tangible value. When support for new technology comes from the bottom-up, leaders can expedite the integration of tailored solutions into the business without facing adoption hurdles,” Qualia said.

Bishrut Malhotra, co-founder of Rexera, shared how his company integrates AI into title and escrow operations. Rexera uses AI to automate tasks such as managing homeowners association (HOA) documents, lien searches and mortgage payoffs—areas that require significant manual labor. The AI technology allows the company to scale operations without increasing staff or overhead. AI processes routine tasks, such as quality control checks and document retrieval, freeing human workers to focus on more complex, high-value tasks.

“We receive about 30,000 to 40,000 emails from HOAs every month,” Malhotra explained. “Our AI helps process these emails and links them to the right transaction. Automating this task, which was once done manually, saves us an incredible amount of time.” He emphasized that AI allows Rexera to scale its operations effectively, ensuring accuracy and quick turnaround times.