Technology is transforming property management by reducing costs and enhancing transparency. Software solutions now allow buyers to visualize commercial spaces in 3D before leasing, while metaverse-based modelling helps developers simulate projects. However, Artificial Intelligence tools are set to complement, not disrupt, traditional brokerage services, Mihir Shah, Global CEO of JLL Technologies, told HT.
com. "Managing a single property —or even multiple properties—requires processing massive data. Today, technology is leveraging this data to simplify property management.
These tools provide quick answers, summarize complex information, and generate actionable insights at lightning speed," said Shah. Also Read: Affordable housing expected to drive proptech investments in the country, to touch $16 billion by 2030: Report AI and the Metaverse: Reshaping the Real Estate Landscape In August 2023, JLL launched its AI-based platform, JLL GPT, a large language model (LLM) specifically designed for the commercial real estate industry. JLL GPT is a generative AI model specifically tailored for the commercial real estate (CRE) industry.
It aims to enhance business processes and deliver faster, more insightful outcomes for users. "Instead of relying on custom dashboards, real estate companies can now simply query the GPT platform and receive instant responses. This eliminates the need for managing vast datasets manually and enhances overall efficiency," Shah explained.
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