JLL recently announced the launch of JLL GPT, developed specifically for the commercial real estate industry.
The artificial intelligence model, created by JLL Technologies, aims to help the company’s global offices and employees provide clients with more effective and engaging access to market trends and relevant information and processes. JLL’s roughly 103,000 employees worldwide will use the new tool, which supplements in-house data with external sources, with plans to roll out the service later this year.
Among others, JLL’s facility management teams will be able to transform standard property utilization and portfolio optimization mechanisms with the help of AI, as GPT’s dynamic communication can lead to more efficient decision-making. In addition, JLL experts will be able to deliver comprehensive workplace design advice more quickly by combining quality insights gathered through GPT-driven conversations.
“Connecting buyers, sellers, and lenders at the right time with the right data defines success in this new era of artificial intelligence. We are already using AI to optimize investment opportunities, creating a competitive advantage for our clients,” said Richard Bloxam, CEO of JLL Capital Markets.
The launch of JLL GPT is not the company’s first step toward AI. Back in 2016, they partnered with Leverton, which provides automated lease software for the international real estate agency. In 2021, JLL also acquired Skyline AI, giving employees access to the startup’s property value forecasting capabilities.
JLL has also committed to AI for the long term, recently appointing Yao Morin as Chief Technology Officer. This demonstrates that the company intends to use artificial intelligence more widely across its business activities to better serve clients.
However, it is not yet entirely clear how AI can specifically enhance the user experience or what exactly it can contribute to the commercial real estate sector. For now, artificial intelligence is still a relatively new technology, surrounded by hype, and its efficiency has room for improvement.
That said, there is no doubt this is the way forward. Over time, the technology will continue to develop, and its solutions will deliver increasingly sophisticated results. Nonetheless, the human side of real estate will remain fundamental—after all, it is real people who move into buildings, and that is something AI cannot always handle. In other words, while technology enables companies to provide better information and guidance to clients, human factors will remain essential.