About AI Ready
Appraisal Institute Ready™ (AI Ready™) is an accreditation given to forms software packages by the Appraisal Institute, indicating that those forms comply with the Institute’s residential data storage and transmission standard. All software and web interfaces consistent with the AI standard can mark their software with the AI Ready logo, indicating they can read and write to the same XML format.
Before AI Ready™, which uses FNC’s Open Appraisal Document Interface (OADI) technology, industry consensus on a standard for appraisal transmission was non-existent. The OADI was designed as an interface specification for the transfer of proprietary appraisal data formats into the open AI XML standard and vice versa. The interface provides appraisal document software companies a common application programming interface (API) for translation of their data into the standard format.
Most real estate professionals concede that appraisal data becomes more useful as it is standardized across the many software platforms used by appraisers and other appraisal service providers. The problem has been that depending on the software an appraiser uses, designations and abbreviations may have different meanings. The AI Ready Standard is a non-proprietary, open standard for data storage; OADI is the means by which data is transmitted between multiple, distinct platforms.