RICS has an ongoing programme of work to develop and maintain conduct standards which, together with sector standards, form RICS' body of professional standards. Conduct standards, which include the Rules of Conduct, apply to all RICS members and regulated firms.
RICS is pleased to announce the development of a new Responsible Use of Artificial Intelligence (AI) professional standard. An expert working group has been established and drafting of the standard is underway. Below is an outline of the planned scope of the standard and detail on the members of the working group.
To remain at the forefront of surveying practice the profession must embrace the oncoming new wave of technology that is dominated by the presence of ‘artificial intelligence.’ This will have far-reaching professional implications for how work is carried out, how services are provided and how data is handled. RICS members and firms will need to become comfortable with using the technology, while also continuing to utilize their professional judgement and scepticism; in addition to having greater awareness of how data handling will change and helping clients understand the provision of services within this changed context.
To assist members and firms to navigate within this new professional environment, this project is developing overarching standards relating to the responsible use of AI (and related technology) across surveying practice. The focus of the project is on professional conduct, rather than technical aspects of technology and data use in particular areas of surveying practice, and will include coverage of the following topics:
a. How the use of AI, technology and data should be referenced in terms of engagement
b. Transparency with clients about the use of AI, technology and data
c. Issues around reliance on and reliability of outputs from AI and technology
d. How to ensure proper consideration and allocation of liability and risk around the use of AI and technology
e. Data quality, ownership, copyright, privacy, commercial confidentiality, and intellectual property rights
f. Governance and ethical considerations around the use of AI, technology and data
Our aim is to have a full draft of the standard out for public consultation by the end of November 2024 and publication in early May 2025. Project contacts are: Darius Pullinger, Senior Standards Assurance Specialist (Project Lead), Sara Saeed, Professional Standards and Regulatory Policy Project Manager (Project Manager) and Carys Rowlands, Head of Professional Standards.
Our expert working group for this project contains a number of practitioners across a range of professional fields, and representing different sizes of organizations, working alongside independent experts in law and policy. There is a great deal of enthusiasm for this project within the group, which will have a positive effect on the development of the standard. Below are profiles of the working group members and the technical author:
Expert Working Group biographies
Sophia Adams Bhatti is a public policy and regulation expert with over 25 years’ experience across a number of sectors including the law, financial services, competition, consumer affairs, healthcare, immigration and asylum. Most recently she was the Global Head of Purpose and Impact at Simmons & Simmons LLP. Previously, she was the Director of Policy at the Law Society of England and Wales, where she led, amongst other things, the Commission on the use of AI in the Criminal Justice sector. Sophia is a non-executive Director at Amnesty International UK and a Board member of Lawtech UK. She is an ethics expert who regularly advises and speaks on associated issues.
Director - Head of Property, Artefact
Christopher de Gruben is an RICS Chartered Valuer with over 20 years of global urban sector experience. His particular passion is around the emergent use of data and AI in the property sector. Chris has started his career working for an international property developer across Asia, focused on its Mongolian operations. His primary tasks revolved around designing, developing and selling high-end real estate to foreign investors and corporates. This interest in emerging markets led Chris to eventually co-found his own firm dedicated to research on the property investment landscape in Mongolia and the region. This quickly grew into becoming a primary investor in the city centre of Ulaanbaatar but also contributing and leading urban development projects for the World Bank, EBRD and Asian Development Bank. During this work, Chris became fascinated with the potential uses of data to improve the operations and the understanding of our urban environments. Today, Chris is the UK Head of Property for a global data-focused management consultancy (Artefact) which combines advanced data science with transformation led management consulting. Chris and his team build bespoke AI models for some of the UK’s FTSE250 property companies. Models he has built can accurately predict market movements, define the optimal use of a residential site, carry out dynamic pricing for lease renewals for BTR operators or suggest an ideal mix of tenant types in retail centres. Above all, Chris maintains a strong belief that accurate and timely property valuations are the bedrock of our financial systems and contribute to a stable economy where investment decisions are made on sound basis. To do this Chris believes that we must better use the wide variety of data tools and datasets available to valeurs to paint a more accurate and contextual picture of the market and highlight significant uncertainties. Chris holds an MSc in Sustainable Urban Development from Oxford University, an MSc in Real Estate from the University of Reading, an EMBA from INSEAD business school and finally, a PGDip from Said Business School in Global Business. He also continues to develop his urban planning skills as an AssocRTPI. Within the RICS, Chris has sat on the North Asia Valuation Board, is an APC assessor and has supported a number of working groups. Today Chris is a PropTech member and a member of the Valuation Professional Group Panel and continues to promote the use of data and AI within the valuation profession.
Senior Director at Gleeds | Global Head of Data, Insights & Analytics | Data IQ 100 2023 | BSc (Hons), FRICS, RITTECH, AMBCS
Chair of Project Data Analytics Taskforce (https://www.projectdataanalytics.co.uk/) James, an accomplished data leader in the construction industry, began his journey as a Quantity Surveyor in 2000. After earning a first-class honours degree, he wrote his university dissertation on data and digitalisation in the construction sector. James quickly built a strong portfolio, becoming a member of the Royal Institution of Chartered Surveyors (RICS) in 2002. In 2012, he was elected as a Fellow of RICS for his significant writing contributions to the RICS Black Book technical standards. Throughout his career, James has worked on prestigious projects, including buildings for Imperial College and various Oxford University Colleges. Whilst employed at Gleeds as a Quantity Surveyor, he became head of the Education sector for London. In 2020, James took on a new challenge as Head of Insights and Analytics at Gleeds. This opportunity allowed him to further his skillset and qualify as a data analyst in 2022, launching the company's data analytics and research capabilities. Today, James leads Gleeds' Global Data, Insights, and Analytics department. With a focus on business intelligence, project intelligence, data literacy, and data maturity, he utilises his expertise in both Quantity Surveying and data analytics to drive the industry's digital transformation. As a Fellow of the RICS, a qualified Data Analyst, and an influential data leader, James recognises the crucial role data and analytics play in informing strategies and decision-making processes within the profession. Recently, James has been elected as chair of the Project Data Analytics Taskforce, further solidifying his position as a leading figure in the construction industry's digital transformation. James was nominated as one of the Top 100 People in Data 2023 by Data IQ, showcasing his dedication and impact in the field of Project Data Analytics James also publishes a weekly newsletter and podcast called ProjectFlux to help people keep up to date https://linktr.ee/projectflux
AI, data and tech lead, RICS
Andrew has been with RICS for thirteen years, and prior to his role in leading the AI, data and tech thought leadership and analytics role, managed RICS’ relationship with the finance and investment community working with debt and equity participants, their advisors in law and accountancy, and regulators. Andrew has also enjoyed a long career in IT starting out running programs on mainframes using punched cards, and then working through the eras of mini-computers, personal computers, and the internet - and now the world of artificial intelligence, cloud computing, the Internet of Things (IoT) and blockchain. In his current role, Andrew is responsible for AI, data, and tech thought leadership and content development, and the adoption of the RICS Data Standard (RDS) that supports valuation, property measurement, life-cycle costing, building performance, brokerage, and due diligence.
Barrister, 4 Pump Court
Matthew is a commercial barrister with a particular focus on technology and telecoms-related disputes. Matthew acts and advises in relation to the full range of traditional technology disputes, such as project failures and delays, IP licensing, copyright infringement, breach of confidence, outsourcing agreements, data protection, digital media, e/m-commerce and digital rights management; he also has extensive expertise in relation to disputes arising out of cyber liability and data, blockchain technologies and AI. Matthew was one of the authors of the Legal Statement on Cryptoassets and Smart Contracts issued by the Jurisdiction Taskforce of the UK’s Lawtech Delivery Panel. He is the author of two books on systems administration and is co-editor of and contributor to The Law of Artificial Intelligence (Sweet & Maxwell, 2020). He is on the Nominet DRS panel of experts and is a Trustee of the Society of Computers and Law. Prior to coming to the bar, Matthew worked as a software developer, system administrator and technical writer.
Associate Director of Rural, Energy and Projects, Savills
Poppy is a chartered surveyor in the south west, working across the south of England and south Wales; specialising in rural estate management. Poppy studied at the Royal Agricultural College before qualifying as a surveyor with Savills. She has a broad range of experience in estate management related work including property management, leasing and letting, landlord and tenant, sales of land and property and providing strategic advice to clients. Poppy is a former winner of the RICS Young Surveyor Award - Land (Urban & Rural) Category, former committee member of Bristol Matrics and judge of the RICS Surveyor of the Year Awards. She looks forward to her involvement with the Land and Natural Resources PGP and is particularly interested in developing the Next Generation and looking at how we can implement technology into our roles.
Managing Director, Omega RE
Nella Pang, the Managing Director of Omega RE, is a trailblazer in the property industry, continually pushing the boundaries of real estate through innovation and technology. As the founder of Omega RE in 2020, Nella's leadership has been pivotal in achieving significant milestones, including becoming the first B Corp certified commercial real estate advisory firm outside of London in 2023. This certification highlights Omega RE's dedication to social and environmental responsibility. Nella's innovative spirit is evident in her approach to integrating PropTech into clients' real estate portfolios, enabling them to leverage key performance indicators for measurable success. Her client-centric philosophy has led to long-term partnerships and remarkable growth, such as advising a core client in expanding from 5 to 34 sites across the UK and increasing their business valuation sixfold from 2022 to 2024. Under her guidance, Omega RE fosters a culture of inclusivity and forward-thinking, demonstrated by initiatives like the Strong Female Lead Initiative and a commitment to gender diversity in recruitment. Nella also hosts the Let’s Talk South Coast Podcast, promoting industry discourse and attracting investment. Nella's innovative projects, such as the UK's largest clean air mural in Southampton, exemplify her commitment to environmental consciousness and unconventional solutions. Her influence extends through leadership roles on esteemed boards, including the Southampton Chamber of Commerce and the RICS Commercial Property Panel, where she contributes to shaping industry practices globally. Recognised with accolades like the Best Newcomer of the Year and MD of Omega RE Leader of the Year, Nella remains a visionary leader dedicated to driving positive change. Her ongoing efforts to mentor the next generation and support disadvantaged children in STEM underscore her commitment to education and inclusivity. Nella Pang stands as a pioneering force, continually staying ahead of the curve in real estate, leveraging technology, and fostering innovation to benefit her clients and the industry at large.
Associate Director, Safety and Security at Diriyah Company, Saudi Arabia
Craig Ross is a Scottish Chartered Building Surveyor with 27+ years of experience. He began his career in 1996, gaining training and studying Architectural Technology at UHI Perth. He later earned a 1st Class Honours degree in Building Surveying at Napier in Edinburgh, while focusing on building surveys, new build design, and heritage projects. Later serving in the UK Armed Forces, he integrated building surveying with security and counterterrorism, earning a distinction in a Master's Degree at St. Andrews. Currently pursuing a PhD at CSTPV in St Andrews, Craig researches terrorism threats to heritage and implements security designs in the Middle East. Also a Chartered Building Engineer and member of engineering councils in the UAE and KSA, Craig is Associate Director, Safety and Security at Diriyah Company. Engaging in various RICS initiatives, he has served as APC Chair/Assessor, local Matrics Chair in Scotland and the UAE, and worked in a staff role as Associate Director for Built Environment for 2 years. His work at RICS involved collaborating with the UK Government, developing Guidance Notes, and contributing to fire safety programs. Understanding the threats and opportunities of AI and utilising AI to enhance the profession is an area of particular interest for Craig, and developing the RICS AI Standard is a significant step in this process.
Risk Director, Legal & General Surveying Services
Malcolm started work at 18 as a trainee Building Surveyor and has spent all his working life in surveying. During that time, he had great opportunities and experience by being flexible and exploring available options. He trained as a Building Surveyor by “day release” and achieved MRICS in 1994. He has been lucky to work in different fields including Project Management, Social Housing and the Valuation and Survey industry. Malcolm’s main focus since leaving project management has been residential property. He has experience of working in small practices, large corporates, Social Housing, as well as Lenders. This gives him a varied pool of knowledge and experience to draw upon. As Malcolm became more experienced, he liked to provide support to colleagues or mentor people in surveying. He has previously contributed to isurv and last year achieved the Mentoring Top Talent at The Institute of Leadership Management. The focus in recent years, since joining Legal & General, has been risk management for lenders and surveyors in areas including Quality, Property Risk, Lender Guidance, Professional Standards and PII. He has also previously contributed to industry groups including the CML (UKF), BSA, RSVG, HBF and other RICS Working Groups with Flooding and Home Survey Standards.
The target consultation date for the AI Professional Standard is Mid Dec 2024- Mid Feb 2025
The target publication date of the AI Professional Standard is June 2025
Dates subject to change
The AI member survey is now open until 15th September 2024. The survey can be found here.
The Royal Institution of Chartered Surveyors (RICS) is pleased to announce the review and development of the current 1st edition of the Professional Standard Financial Crime: Countering Bribery, Corruption, Money Laundering and Terrorist Financing.
The intended purpose of the project is to review and update the ‘Anti-Money Laundering (AML)’ Professional Standard to help all RICS members and RICS-regulated firms address the current risks posed by bribery, corruption, money laundering and/or terrorist financing. Additional aims of this work include developing a Standard that is relevant, applicable, and useful more globally; including through referencing/signposting to relevant local legislation and providing examples or case studies.
This Professional Standard applies to all RICS members and RICS-regulated firms involved with work where there is potential for bribery, corruption, money laundering and/or terrorist financing. If the standard contradicts local legislation, legislation takes precedence.
A highly experienced Expert Working Group, composed of a number of practitioners across the world and a range of sectors including financial and risk advisors and compliance managers, is supporting RICS with the update of the Professional Standard (see Expert Working Group bios below).
RICS aims to have a full draft of the updated standard out for public consultation by early January 2025 and to publish the final version of the second edition by July 2025. Project contacts are: Steve Choi, Senior Policy Specialist (Project Lead), Sara Saeed, Professional Standards and Regulatory Policy Project Manager (Project Manager) and Carys Rowlands, Head of Professional Standards.
Expert Working Group biographies
Alexander Aronsohn (FRICS) is a Chartered Surveyor with long and wide-ranging experience of over thirty years encompassing residential asset management, commercial and residential development, rating, national and international valuation and investment. Alexander is the IVSC Technical Director and assists the IVSC Standards Review Board and the Tangible Assets Board on drafting IVS, perspectives papers, presentations, training, and articles. Prior to joining the IVSC Alexander was the RICS Director of Technical Standards.
Alex joined Bristows in August 2022 and is responsible for all the risk and compliance affairs within the firm. He works closely with the firm’s partners and senior managers to ensure that we do the right ethical things by our people, clients and regulators. Before joining, Alex was a solicitor in private practice, and qualified in 1997. He worked with a number of leading law firms before going in house in 2003. Alex was senior counsel with BDO and led the global risk function at Ince. Alex has written the professional standards for AML and Bribery for the Royal Institution of Chartered Surveyors, in addition to writing many articles and giving presentations, some of which can be found on YouTube.
Gill began her career in Financial Services and transitioned into Compliance about 20 years ago. Over the past 14 years, she has led Compliance Functions holding the Financial Conduct Authority regulatory functions during this time. Her career has taken her on a journey from Financial Services to other sectors including Oil & Gas, Real Estate, and Infrastructure Development. Her area of specialism and passion is Financial Crime. Gill holds both an LL.B and LL.M degree. In her spare time, she enjoys traveling and participating in marathon running.
Ben is a Chartered Surveyor with over 30 years’ experience gained in the fields of valuation, leasing, capital transactions, asset and funds management, working in the UK, France and Australia. He has held various senior positions in private practice, investment banking, a major US corporate and a Big 4 consulting firm. Ben currently lives in Brisbane, Australia, with his wife and 2 sons. He currently works for a privately owned property investment firm headquartered in Sydney.
Giorgia is an Italian lawyer based in Milan and admitted to the Milan Bar. Giorgia daily advises both Italian and foreign clients in the context of the compliance with AML legislation. In particular, she assists obliged entities in Italy in the preparation of the required internal procedures and protocols for the compliance with AML rules. Giorgia also assists clients when the competent authorities identify violations of AML obligations and defends them when sanctions are imposed, initially before the extra-judicial competent authorities, and, if it is the case at a later stage, before the competent Courts. In addition to her AML expertise, Giorgia also deals with real estate and M&A matters.
Jo has been a member of RICS since 2015. Jo is CEO at Pegasi, with responsibility for all residential, commercial, and retail assets under management in Prime Central London, as well as, a 3000-acre arable farm and estate in Essex . Jo has a wide range of responsibilities for companies within a trust, extending to Board positions across the US and horse racing. Jo sits on the Board for the Knightsbridge BID and is Chair for City River Partnership, which plans on pursuing BID status in due course. Jo is an RICS mentor for those pursuing the senior professional route, as well as, a qualified personal development facilitator working with people and horses.
Katarzyna Studzińska is a Compliance Manager at Colliers Poland with over 12 years of extensive experience in compliance. She has a proven track record in designing, implementing and continuous improving compliance processes, including the Anti-Money Laundering area, as well as, digitalization initiatives within this realm. Katarzyna excels in crafting and delivering compliance related trainings, utilizing both live format and e-learning platforms to ensure comprehensive understanding and compliance. She remains committed to driving regulatory excellence and fostering a culture of compliance within the organization and real estate industry. Katarzyna is a member of the Inter-agency Compliance Initiative in Poland, where she collaborates with leading real estate agencies’ compliance professionals to enhance industry standards and practices on the local market. Katarzyna is also a Certified Internal Auditor (CIA) accredited by the Institute of Internal Auditors (IIA). She is a member of IIA Poland.
Kalyani is the Financial Crime Compliance Leader for Deloitte Southeast Asia. She has over 17 years’ experience in the financial services sector, having worked in Global Financial Institutions prior to joining Deloitte. She has experience leading and managing projects covering policy and procedure gap assessments, definition of target state operating models (“TOM”), transactions monitoring and sanctions screening model validations, sanctions screening lookbacks, KYC/CDD file validation and remediation as well as defining Sanctions risk assessments and governance frameworks. Kalyani also has extensive experience designing and implementing enterprise wide and product risk assessment frameworks, drafting and implementing financial crime compliance policies and procedures as well as process mapping and re-engineering in various institutions.
Louise Shelley (PhD) is the Omer L. and Nancy Hirst Endowed Chair and a University Professor at George Mason University. She is in the Schar School of Policy and Government and directs the Terrorism, Transnational Crime and Corruption Center (TraCCC) that she founded. Shelley is a leading expert on the relationship among terrorism, organized crime, and corruption as well as human trafficking, transnational crime, and terrorism with a particular focus on the former Soviet Union. She also specializes in illicit financial flows and money laundering. She was an inaugural Andrew Carnegie fellow. While on the Carnegie Corporation and Rockefeller Foundation Bellagio fellowship, she wrote the book, Dark Commerce: How a New Illicit Economy is Threatening our Future, on illicit trade, the new technology, and sustainability, published by Princeton University Press in November 2018.
With more than 25 years in the real estate industry, Philip is a trusted advisor currently working as Senior Client Manager at Bouwinvest Netherlands. In his current role as member of the Dutch board of RICS Netherlands, Philip is responsible for the portfolio ‘integrity and ethics’ within RICS Netherlands. It is Philip’s ambition to organise events and publications in order to engage on theme ‘Integrity and Ethics’ in the coming years.
Based in Singapore, Stephen heads JLL’s Southeast Asia and India Value and Risk Advisory businesses, and heads client engagement for international institutional valuation work across Asia Pacific. Stephen currently chairs the Regional Valuation Governance Board and sits on the Global Valuation Risk Committee. He has been in the real estate industry since 1999, became a Chartered Surveyor in 2004 and was elected a Fellow in 2016. Stephen was previously Head of International Standards, APAC for RICS and was involved in the development and review of several professional standards.
The target consultation date for the AML Professional Standard is Early February – End March 2025
The target publication date of the AML Professional Standard is July 2025
Dates subject to change
The AML member survey is now open until 30th September.
The survey can be found in the link here.
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