Bisnow’s First Draft Live is a weekly series featuring live conversations about the critical stories impacting CRE right now — from market volatility and economic uncertainty to the growing influence of artificial intelligence. First Draft Live is a companion to The First Draft, Bisnow’s daily, flagship CRE newsletter. Register here to get The First Draft in your inbox. Subscribe to First Draft Live on Apple and Spotify, or scroll down to view in your browser.
Artificial intelligence has permeated every industry, and commercial real estate is no exception. JLL’s Global Future of Work survey found that 90% of CRE companies surveyed are planning to integrate AI to support human experts in CRE over the next five years.
Now, CRE firms are moving beyond adopting existing tools and creating their own. JLL has created JLL Falcon, which it describes as a pioneering AI platform for CRE, combining vast proprietary data with cutting-edge AI models to power CRE dealmaking.
On this week's episode of First Draft Live, Bisnow Editor-in-Chief Mark F. Bonner spoke with JLL CEO Christian Ulbrich, who discussed how JLL is using AI to execute smarter, build stronger client relationships and stay ahead in a market where data rules.
Ulbrich said he has seen firsthand how AI has helped his team become more productive and gain higher revenues.
“We have tremendous amounts of KPIs that have proven the value of the tools,” he said. “It’s in your face, the benefits for your clients, when you embrace AI.”
At the end of the day, real estate is a data business, supported by facts.
“There is no surprise that some of the most successful real estate investors are the ones who are embracing data the most, and they’re the ones who are now embracing AI the most,” Ulbrich said.
View the rest of the conversation here:
