)
One of the largest commercial real estate brokerages is partnering with the world’s most valuable public company in its journey into artificial intelligence.
Cushman & Wakefield launched a new suite of Microsoft AI products for its brokers to use to become more efficient and competitive, the firm announced Wednesday.
The firm, which has 52,000 employees across 400 offices, will use three different Microsoft AI tools: Azure OpenAI Service, Microsoft Technology Centers and Copilot for Microsoft 365.
“With this next generation of AI, we have a unique opportunity to accelerate innovation at Cushman & Wakefield and across commercial real estate,” Microsoft Data & AI General Manager Laura Craig said in a release.
Azure OpenAI’s features include machine learning, bot framework, natural language processing and speech recognition. They will enable Cushman brokers to create custom copilots to enhance customer experience, improve operational efficiency and increase competitive advantage, according to the release.
Microsoft Technology Centers' over 50 worldwide locations provide an immersive experience and deep technical engagement services. Cushman will draw on the Centers’ research tools and specialists to develop adaptable applications that use AI features and seek out other areas that could benefit from AI solutions.
Copilot, a software that uses AI to bolster Microsoft’s workplace productivity tools like Teams, Outlook and Word, will be used to enhance the security and safety of Cushman’s online interactions.
The trend of commercial real estate firms leaning into AI has accelerated since the launch of Microsoft-backed ChatGPT in late 2022. The industry's largest brokerages have since launched a series of initiatives to use AI tools to enhance their workflows, strategies and outcomes for clients.
In November, Cushman & Wakefield introduced its exclusive AI+ platform, which it said would embed AI "across its commercial real estate transaction lifecycle."
In August, both CBRE and JLL announced they would be implementing new AI-driven technologies. CBRE launched a Nexus AI-based platform that provides operations and usage data, and JLL launched its own large language model, “JLL GPT,” and deployed it to its brokers around the world.
)
)
)
)
)
)
)
)
)
)
)
)