JLL unveils first GPT model for commercial real estate
JLL GPT™ will provide private, secure generative AI model to amplify insights and client outcomes
SAN FRANCISCO, August 1, 2023 – JLL (NYSE: JLL) today announced JLL GPT™, the first large language model purpose-built for the commercial real estate (CRE) industry. Developed by JLL Technologies (JLLT), the technology division of JLL, the bespoke generative artificial intelligence (AI) model will be used by JLL’s 103,000+ workforce around the world to provide CRE insights to clients in a whole new way. JLL’s extensive in-house data will be supplemented with external CRE sources, and the company plans to offer made-to-order solutions to clients later this year.
“Using JLL GPT in our secure computing environment, our global real estate experts will be able to deliver faster, smarter insights to our clients,” said Yao Morin, JLL CTO. “We developed JLL GPT so our employees can leverage generative AI knowing everything is in full compliance with JLL’s robust privacy and security standards. This is the latest innovation demonstrating how we tech-enable our most valuable asset – our people – to provide unmatched products and services to our clients.”
More than a simple chatbot, JLL GPT is the latest example of JLL’s data-first philosophy of the industry’s digital transformation. AI is only as good as the data it’s trained on, and JLL has been investing in and organizing CRE data for years. With clean, quality assured, strictly governed data, JLL is now able to extend its technology strategy into the generative AI era for the benefit of its clients.
For example, JLL’s facility managers will be able to use generative AI to transform standard real estate space utilization and portfolio optimization dashboards into dynamic conversations that lead to more actionable decisions. Additionally, JLL consulting experts can provide comprehensive workplace planning advice to clients more quickly by combining qualitative information they gather through conversations with JLL GPT.
JLL has already deployed AI technology to improve building efficiencies, generate 3D leasing visualizations, calculate sustainability risks and power investment leads. For example, one in five of all JLL Capital Markets opportunities globally was enabled by the company’s AI-powered platform in the first quarter of 2023.
“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,” added Richard Bloxam, JLL CEO, Capital Markets. “We are already using AI to optimize investment opportunities, creating a competitive edge for our clients. Leveraging comprehensive real estate data with JLL GPT’s insights trained by our Capital Markets advisors will significantly enhance decision-making.”
“JLL GPT will supercharge portfolio optimization instantly by generating impactful insights using not only externally available market data and business trends but also JLL’s proprietary market research and information,” said Andy Poppink, CEO, Markets Advisory. “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.”
With a global footprint, and an end-to-end approach to real estate including an in-house technology division, JLL offers extensive expertise through its people and innovative technology. The company has been an early adopter of generative AI and now boasts more than 40 innovations in development or in beta.
JLL GPT exemplifies the “build” component of the firm’s strategy to build, buy, partner and invest in technology solutions that are transforming CRE. By tech-enabling every facet of the business today and pioneering solutions tomorrow, JLL is helping to shape the future of real estate. Learn more about how JLL is delivering AI solutions to unlock the potential of the world’s buildings and its people.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.