JLL global CMO Siddharth Taparia talks about his company's AI journey and the opportunities it's created.
Category
đŸ˜¹
FunTranscript
00:00When it comes to marketing, I think one of the things that is top of mind for everybody is artificial intelligence.
00:06Siddharth Tabriya, I'm the Global Chief Marketing Officer for JLL, which is a Fortune 200 commercial real estate company.
00:13Our mission is to shape the future of real estate for a better world.
00:17And 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.
00:23So our AI journey really started when ChatGPT was first launched, I believe it was November of 2022.
00:30So we started talking and experimenting and playing with all the different tools that were becoming available in the marketplace.
00:37And then in August of 2023, so within 10 months, we launched JLLGPT, which was the first large language model in the market,
00:46specifically purpose-built for commercial real estate.
00:48And 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,
00:57because the information we knew would never leave the four walls of the organization.
01:01There was no risk we were taking on behalf of anyone.
01:04And that has really turbocharged how we are using artificial intelligence now.
01:09And so now we have over 400 people within marketing that call themselves artificial intelligence innovators,
01:16that are champions, that have raised their hand and are really leaning into using artificial intelligence tools.
01:22Every single day we use over half a dozen tools to do our day-to-day work from an AI perspective.
01:30And the end goal for us is to make things faster, but also make them much more effective for our business.
01:38Two weeks ago, we were trying to do a partnership with another company.
01:43In the past, what would have happened is we would have called up our legal team, somebody would have written the first draft,
01:48people would have revised it for sometimes days, sometimes weeks, and then we would have finalized it and signed it.
01:53The whole process from start to finish would have taken anywhere from four to six weeks.
01:57This time around, I used our internal large language model called JLLGPT,
02:04and I was able to generate the initial draft of that memorandum of understanding within minutes.
02:10And once I had that, I refined it myself. It took me an hour, I sent it to our legal team,
02:15it took them probably 30 minutes to mark it up, and we sent it to our partner that we were working with.
02:22The entire process has so far taken us less than five hours,
02:26whereas in the past it would have taken us anywhere from a month to two months to finish a process like that.
02:32There are so many examples like that, but also being able to create opportunities for doing chat with your clients.
02:39Initial chat, and this is something that we're experimenting with on our website.
02:43In the past, that would have been something that was manned by a human being,
02:47and we had limitations on how many hours we could do it.
02:50Now we have AI doing some of the initial conversations, of course trained on how we would do it.
02:56That allows us to create opportunities to be more available to our clients.
03:00Instead of being available eight hours a day, we could be available 24 hours a day.