JLL GPT: human-led, AI-powered, purpose-built CRE technology
JLL is happy to announce JLL GPT™, the world’s first large language model built by and for the commercial real estate (CRE) industry. Developed by JLL Technologies (JLLT), the technology division of JLL, this marks a critical, exciting milestone on the path toward harnessing the power of AI to simplify business processes, increase productivity, and accelerate results for real estate clients.
When tools such as ChatGPT took the world by storm, businesses were understandably hesitant to use them due to both security concerns and inaccurate outputs. But JLL GPT is trained on CRE industry-specific data from internal and external sources. It’s the most accurate generative AI tool available in commercial real estate today and for the foreseeable future.
Initially, JLL GPT will be used in-house by our JLL global workforce. The app will leverage JLL’s own extensive CRE data along with other external data sources, using AI to expedite and drastically simplify workflows, which will, in turn, deliver smarter and faster revenue-generating and cost-savings insights for our clients—safely and always in compliance.
Put more simply, JLL GPT will be the smartest generative AI option for CRE leaders.
How does JLL GPT work?
JLL GPT is a tool for human-powered work, not a replacement for the unique expertise and insight of real estate professionals. It will feature a conversational interface: Users can ask natural-language questions, and the AI will return data-driven, accurate, and intelligent responses. As JLLT co-CEO Yishai Lerner notes: This latest innovation demonstrates how JLL tech-enables its most valuable asset—people—to provide unrivaled products and services to our clients.”
Initial applications of JLL GPT will include:
- Transforming space utilization dashboards into dynamic conversations that provide detailed, clear, and actionable insights—faster
- Augmenting client feedback with AI to quickly deliver comprehensive workplace planning strategies and advice
- Expediting workplace planning strategies by combining client insights obtained through consultant interviews with AI
But that’s only the very tip of the iceberg, both for GPT and the broader AI landscape. Our recent JLL research report, “Artificial Intelligence: Real Estate Revolution or Evolution?”, cites several use cases that have the potential to make a measurable impact on CRE. These include internet of things data mining for automated facility management, price modeling and predictions for investors, matchmaking for leasing transactions—the list goes on. And we’re still just getting started.
The state of AI for CRE is built on data
For commercial real estate clients and tenants, the most important challenge to address is the foundation of their data: how to capture, govern, and model it to extract the value that lies hidden in the noise.
AI can empower CRE professionals to do all this faster and more efficiently, leading to better and more informed decisions. Specifically, we expect to see substantial impact in areas like automatic valuation of properties, self-optimizing buildings, energy conservation, data-driven property marketing, utilization, and space visualization.
Looking broadly at AI, our perspective for CRE leaders includes:
- Understand what your AI can and cannot do. AI is not one-size-fits-all; it’s highly specialized and tailored and needs to be treated as such.
- Having the right data is crucial to AI’s success. Identify which data you have and what problems you can solve with it, as data is a key source of truth from which to develop an AI-based project. People want to do all kinds of things with AI capabilities, but if you don’t have the right data, it will likely fail.
- Organizations that are doing AI right have a sustained commitment to redesigning core systems, processes, and business strategies around AI and its possibilities. AI is constantly changing, and your organization must change with it.
With all this in mind, it will be critical for organizations to have a sound AI strategy in place that is built on the most relevant data. This announcement of JLL GPT is a powerful example of JLL’s commitment to light this path for real estate leaders as we all navigate the rapidly increasing potential of AI. For our buildings. For everyone.
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