JLL Unveils First GPT Model "Purpose-Built" for CRE
Called JLL GPT, it is available to JLL's global workforce and will offer "made-to-order solutions" to clients later this year.
JLL has launched JLL GPT, which it says is the first large language model “purpose-built” for the commercial real estate industry.
The generative AI model, developed by JLL Technologies, is being made available to JLL’s 103,000 global workforce to “provide CRE insight to clients in a whole new way,” the company said, in a release.
JLL’s plan is to supplement JLL’s proprietary in-house data with “external CRE sources” and to begin offering “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, in a statement.
“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,” Morin said.
JLL said JLL GPT—the company has trademarked the brand—is “more than a simple chatbot.” The firm stressed that the LLM was trained with “clean, quality assured, strictly governed data.”
JLL 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,” the company said.
JLL consulting experts will use the LLM to provide speedy comprehensive workplace planning advice to clients by “combining qualitative information they gather through conversations with JLL GPT,” JLL said.
“It all comes down to the questions you ask. They can have all the knowledge in the world, but right now GPT is trained on general knowledge,” Morin told GlobeSt.
“Just like humans need lawyers and doctors, they need to be trained on specialized expertise for that field. It takes the experts to ask the right questions to Gen AI to get the right answers,” she said.
“In the first phase, Gen AI will be a co-pilot and [it] will be a huge productivity booster for a lot of the things we are doing today,” Morin added.
In a white paper JLL released earlier this month on the implications of generative AI for CRE, Morin said JLL views generative AI as “a valuable human enhancement, not a replacement.”
”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,” said Richard Bloxam, JLL CEO, Capital Markets, in a statement. “Leveraging comprehensive real estate data with JLL GPT’s insights trained by our Capital Markets advisors will significantly enhance decision-making.”