Artificial Intelligence Expected to Reshape Real Estate: JLL

Originally published in June 2023 by JLL.

The potential for artificial intelligence (AI) to transform businesses, industries and society has been mounting for decades. But recent advancements, have moved the science from niche to mainstream. The technology’s proficiency in writing, drawing, coding and composing has compelled corporate leaders to consider both the opportunities and threats that AI presents for their future.

For commercial real estate, it’s clear that strategically embracing AI could transform the sector. In JLL's 2023 Global Real Estate Technology Survey*, AI and generative AI were ranked among the top 3 technologies that were expected to have the greatest impact on real estate over the next three years by investors, developers and corporate occupiers. Less clear are the details of what exactly comes next. Respondents indicated the least understanding of AI and generative AI, when compared to other surveyed technologies such as blockchain, virtual reality and robotics.

Still, acutely aware of the impending change, real estate industry leaders are continuing to explore ways to harness AI’s transformative possibilities.

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