Following is a transcript of the video.
Siddharth Taparia: When it comes to marketing, I think one of the things that is top of mind for everybody is artificial intelligence.
Siddharth Taparia, I’m the global chief marketing officer for JLL, which is a Fortune 200 commercial real estate company. Our mission is to shape the future of real estate for a better world. And so that’s our belief that through real estate we can really build a world that’s better for the planet, better for the future generations.
So our AI journey really started when Chat GPT was first launched, I believe it was November of 2022. So we started talking and experimenting and playing with all the different tools that were becoming available in the marketplace. And then in August of 2023, so within 10 months, we launched JLL GPT, which was the first large language model in the market specifically purpose built for commercial real estate.
And once that was available, our teams were able to just use all of the information that they wanted to put into it in a very safe and secure way because the information we knew would never leave the four walls of the organization. There was no risk we were taking on behalf of anyone. And that has really turbocharged how we are using artificial intelligence now. And so, now we have over 400 people within marketing that call themselves artificial intelligence innovators that are champions that have raised their hand and are really leaning into using artificial intelligence tools every single day. We use over half a dozen tools to do our day-to-day work from an AI perspective. And the end goal for us is to make things faster, but also make them much more effective for our business.
Two weeks ago we were trying to do a partnership with another company. In the past what would’ve happened is – we would’ve called up our legal team, somebody would’ve written the first draft, people would’ve revised it for sometimes days, sometimes weeks, and then we would’ve finalized it and signed it. The whole process from start to finish would’ve taken anywhere from four to six weeks. This time around, I used our internal large language model, called JLL GPT, and I was able to generate the initial draft of that memorandum of understanding within minutes. And once I had that, I refined it myself, took me an hour, I sent it to our legal team. It took them probably 30 minutes to mark it up and we sent it to our partner that we were working with. The entire process, it’s so far taken us less than five hours, whereas in the past it would’ve taken us anywhere from a month to two months to finish a process like that.
There’s so many examples like that, but also being able to create opportunities for doing chat with your clients. Initial chat. And this is something that we’re experimenting with on our website. In the past, that would’ve been something that was manned by a human being and we had limitations on how many hours we could do it. Now we have AI doing some of the initial conversations, of course, trained on how we would do it, and that allows us to create opportunities to be more available to our clients instead of being available eight hours a day, we could be available 24 hours a day.