JLL has unveiled its own purpose-built large language model for the commercial real estate industry.
Named JLL GPT, the bespoke generative artificial intelligence model will be used by the agency’s workforce of more than 103,000 internationally.
The technology, which was developed by JLL Technologies, aims to provide commercial real estate insights to clients in a swifter, simpler way. It will do so by combining in-house data with external sources.
The AI can be used by numerous parts of the business, such as facilities managers, who can use it to transform space utilisation and portfolio optimisation data into dynamic conversations that lead to more actionable decisions.
Andy Poppink, chief executive, markets advisory at JLL, said: “JLL GPT will supercharge portfolio optimisation instantly by generating impactful insights using not only externally available market data and business trends but also JLL’s proprietary market research and information.
“JLL’s clients will have confidence that they are executing strategies based on robust data and unique insights at significantly swifter speed, with our JLL brokers having this amazing, advanced technology at their fingertips.”
It can also be used by consultants to provide comprehensive workplace planning advice to clients at enhanced speed by combining qualitative information they gather through conversations with JLL GPT.
The company has already implemented AI technology in other areas for things such as improving building efficiencies, generating 3D leasing visualisations, calculating sustainability risks and powering investment leads. As a result, one in five of all JLL Capital Markets opportunities internationally was enabled by the company’s AI-powered platform in Q1 2023.
Richard Bloxam, chief executive, capital markets at JLL, said: “Connecting buyers, sellers and lenders at the right time, with the right data in hand – within seconds – is going to determine success in this new generative AI era. We are already using AI to optimise investment opportunities, creating a competitive edge for our clients. Leveraging comprehensive real estate data with JLL GPT’s insights trained by our Capital Markets advisers will significantly enhance decision-making.”
JLL GPT is set to be available to offer specific solutions to clients later this year.
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