JLL Introduces Groundbreaking AI Model for the Commercial Real Estate Sector

Sources: San Francisco Business Times, PR NewsWire, CIO

San Francisco, California

In a significant stride towards reshaping the landscape of the commercial real estate (CRE) industry, global powerhouse JLL, headquartered in Chicago, has taken the wraps off JLL GPT - the industry’s maiden large language model designed from the ground up.

JLL GPT signifies a groundbreaking leap as the first large language model (LLM) meticulously crafted to cater exclusively to the specific needs of the commercial real estate sector. The company’s global workforce, which boasts over 103,000 professionals, will leverage this AI platform to offer a new dimension of CRE insights to their clients. JLL’s internal teams will tap into JLL GPT’s capabilities before the tailored solutions hit the market later this year.

Drawing on JLL’s wealth of proprietary data along with external sources from the commercial real estate sector, the potential of JLL GPT is inspiring. The model empowers JLL’s facilities managers with the ability to pose queries in natural language, with the AI responding in kind with data-driven, intelligent insights. This dynamic approach aims to transform traditional real estate space utilization and portfolio optimization dashboards into dynamic conversations that pave the way for more actionable decisions.

There are benefits for the JLL’s consulting experts too. Harnessing the power of JLL GPT, these experts will accelerate the delivery of comprehensive workplace planning counsel by amalgamating qualitative inputs gathered from conversations with the AI.

One crucial concern in the adoption of generative AI lies in the credibility of its data sources. While models like ChatGPT are shaped by vast data troves, their responses are derived from learned patterns rather than verifiable facts. This pattern-based approach often lacks direct citations for information sources, raising questions about its trustworthiness.

JLL GPT takes a definitive stance against this skepticism through a data-centric approach, exclusively utilizing rigorously vetted and governed data. Yao Morin, JLL’s CTO, emphasizes the model’s alignment with the

company’s robust privacy and security standards, stating, “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.”

Richard Bloxam, JLL CEO of Capital Markets, underscores the pivotal role of data-driven decision-making in the era of generative AI, highlighting how the fusion of comprehensive real estate data with JLL GPT’s insights will enhance the precision of choices.

The emergence of JLL GPT stems from the ingenuity of JLL Technologies, based in San Francisco, although the JLL corporate hub remains firmly rooted in Chicago. This strategic initiative reflects the company’s unwavering commitment to innovation and technological advancement, setting a transformative course for the commercial real estate sector.