In a remarkable stride towards revolutionizing commercial real estate (CRE), JLL has unveiled its groundbreaking artificial intelligence platform, JLL Falcon. This innovative suite is not merely a collection of software services; it’s a paradigm shift engineered to propel the digital transformation within the CRE landscape, intertwining JLL’s vast repository of proprietary data with the prowess of generative AI technologies. The result? An unparalleled capacity to furnish timely insights that promise to drive revenues while trimming costs, ultimately aiming to optimize returns across the sector.
Mihir Shah, the visionary CEO of JLL Technologies, encapsulated the essence of this initiative, stating, “JLL Falcon will serve as the foundation for the continued innovation of products and services that help shape the CRE industry.” This platform amalgamates JLL’s deep-rooted expertise with cutting-edge technology, transforming work methodologies and setting the stage for delivering superior outcomes that benefit both employees and clients alike.
The sophisticated functionalities of JLL Falcon are impressive, featuring multi-modal AI foundation models alongside fortified data pipelines, and endowed with layers dedicated to natural language as well as semantic processing. Such capabilities present robust analytical tools expected to cater to a myriad of CRE applications, including custom AI assistants. Its open architecture not only facilitates the seamless integration of elite internal and external technologies but also amplifies JLL’s knack for researching opportunities, deciphering intricate data, and generating actionable insights.
Moreover, JLL Falcon is poised to nurture the development of JLL GPT—the inaugural generative AI assistant meticulously tailored for the CRE sector. Since its launch in August 2023, this tool has garnered enthusiastic adoption among JLL’s global workforce, empowering them to generate specialized insights that enhance client engagement and results.
Yao Morin, the Chief Technology Officer at JLL, expressed enthusiasm, noting, “We’ve had great success putting game-changing AI capabilities into the hands of our CRE professionals, augmenting and amplifying their unmatched expertise.” He further assayed that JLL Falcon builds upon existing achievements, unlocking an array of bespoke, AI-enabled solutions destined to carve out the future narrative of real estate for the betterment of society.
With over 47,000 JLL professionals—spanning both technical and non-technical roles—rapidly embracing JLL GPT, the tool is witnessing widespread utilization aimed at delivering innovative and tailored solutions to clients. Recent advances have enhanced JLL GPT’s capabilities, particularly in image comprehension, expanded knowledge reservoirs, and a remarkable boost in working memory relative to its original iteration.
JLL’s ambitious AI strategy is deeply informed by the diverse roles of those engaged in the real estate ecosystem—builders, sellers, investors, operators, managers, and inhabitants of properties. As generative AI heralds a transformative era for the CRE industry, JLL positions itself at the forefront of this imminent shift, with more pioneering solutions anticipated later this year.
