JLL unveils JLL Falcon, revolutionising commercial real estate

JLL has announced the launch of its artificial intelligence (AI) platform, JLL Falcon, which aims to advance the digital transformation of the commercial real estate (CRE) sector.

The platform is designed as a suite of AI-enabled software services that utilises JLL's extensive proprietary data in conjunction with generative AI models. This combination is set to provide timely insights that are both revenue-generating and cost-efficient, while also working to maximise returns within the industry. The company believes that JLL Falcon will guide the future progress of its AI initiatives.

"JLL Falcon will serve as the foundation for the continued innovation of products and services that help shape the CRE industry," stated Mihir Shah, CEO, JLL Technologies. "The platform combines JLL's extensive expertise with some of the most advanced technology available today, transforming how we work and paving the way to deliver enhanced outcomes for the benefit of our people and our clients."

The platform features advanced capabilities such as multi-modal AI foundation models, robust data pipelines, and layers for natural language and semantic processing. It is equipped with advanced analytics capabilities which are expected to support a variety of CRE applications, including custom assistants. The open architecture of JLL Falcon allows for the integration of top-tier internal and external technologies, enhancing the company's ability to research opportunities, process complex data, and provide actionable insights.

JLL Falcon will also support the development of JLL GPT, the first generative AI assistant specifically tailored for the CRE industry. Since its debut in August 2023, JLL GPT has been adopted by JLL's global workforce for creating specialised insights that benefit client interactions and outcomes.

"We've had great success putting game-changing AI capabilities into the hands of our CRE professionals, to augment and amplify their unmatched expertise," said Yao Morin, JLL's Chief Technology Officer. "JLL Falcon will build on what we've already achieved and unlock even more custom, AI-enabled solutions that help shape the future of real estate for a better world."

JLL GPT has seen rapid adoption across both technical and non-technical positions at the company, with over 47,000 JLL professionals utilising the tool to offer innovative and bespoke solutions to clients. Recent enhancements to JLL GPT include improved image understanding, an expanded knowledge base, and a significant increase in working memory capacity compared to its initial version.

The company states that its AI strategy is influenced by the individuals who build, sell, invest in, operate, manage, and inhabit real estate properties. With the CRE industry on the cusp of transformation due to generative AI, JLL aims to spearhead this shift with further solutions expected to be unveiled later this year.