A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.
The commercial real estate market has been historically slow to modernize, and yet it appears to be accelerating its adoption of artificial intelligence.
Companies are moving beyond initial testing and exploration into more targeted applications that aim to redefine value, according to a new survey from JLL.
The survey of more than 1,500 senior CRE investor and occupier decision-makers across various industries found that, while still in the early stages, organizations are making AI a priority in their technology budgets. They are also moving from using it just for efficiency to focusing on how it can grow their businesses.
JLL found that 88% of investors, owners and landlords said they have started piloting AI, with most pursuing an average of five use cases simultaneously. And more than 90% of occupiers are running corporate real estate AI pilots, according to the report. Compare that with just 5% starting AI pilots two years ago. The adoption is fast, but not entirely easy.
