JLL Falcon kicks off new era of AI-powered CRE innovation

CHICAGO, October 29, 2024 – JLL (NYSE: JLL) today announced the launch of its artificial intelligence (AI) platform, JLL Falcon, designed to accelerate the digital transformation of the commercial real estate (CRE) industry. The new platform is a cutting-edge set of AI-enabled software services that combines JLL’s vast and comprehensive proprietary data with generative AI models to deliver timely, revenue-generating and cost-saving insights, as well as maximize returns. This revolutionary platform for the CRE industry will chart the future course for JLL’s AI journey.

“JLL Falcon will serve as the foundation for the continued innovation of products and services that help shape the CRE industry,” said 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."

Featuring multi-modal AI foundation models, data pipelines, security and privacy features, natural language and semantic processing layers and advanced analytics capabilities, JLL Falcon will power a wide range of CRE applications, including custom assistants. Additionally, the platform’s open architecture seamlessly blends best-in-class internal and external technologies to streamline JLL’s approach to researching opportunities, extracting and analyzing complex data and delivering trustworthy, actionable insights.

JLL Falcon will also power the next iteration of JLL GPT™, the first generative AI assistant purpose-built for the CRE industry, which, since being introduced in August 2023, has provided JLL’s entire workforce with the capability to create specialized insights based on curated datasets to deliver better client 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.”

Since launching JLL GPT™ last year, JLL has seen rapid adoption rates across both technical and non-technical roles. More than 47,000 JLL professionals have already used the tool to provide more creative, customized solutions for clients. Most recently, JLL GPT™ has gained powerful new capabilities such as image understanding, an enhanced knowledge base and 25 times more working memory than its inaugural version.

JLL’s approach to AI is driven by the people who build, sell, invest, operate, manage and inhabit space. As generative AI is expected to revolutionize the commercial real estate industry, JLL is poised to lead the sector into the next stage of transformation, with new solutions slated to launch later this year.

To learn more about how JLL is delivering AI innovations to influence the future of CRE, read more here.