Sponsor content from JLL.
Even in its infancy, generative AI already brings a competitive edge to banks and financial institutions that can put its insights to work. The next frontier for GenAI is the commercial real estate sector.The CRE sector has traditionally struggled with data quality and an easy interface to access and visualize data. GenAI could help fill this gap, giving institutions within the sector powerful and meaningful insights that could help them make the right decisions on their CRE holdings.
With time-consuming manual tasks now automated, CRE employees can analyze portfolios at a larger scale and surface strategies and opportunities that time and resource constraints have made it difficult to uncover. Using AI can help organizations boost productivity, enhance the employee experience, and manage risks.
Financial services organizations can optimize their portfolios by combining human expertise with GenAI insights to identify underperforming assets or those with higher risk profiles, applying its insights to improve returns or reduce risks when buying, selling, refinancing, or renovating properties.
“While we anticipate AI will change the nature of jobs by replacing routine tasks and improving operational efficiency, it will most likely transform roles and require a shift in the skill set of the workforce rather than making roles obsolete,” said Giles Wrench, Vice Chairman, Financial Services and Insurance, Americas Markets, JLL. “This transformation will also allow workers to focus on higher-value activities like relationship building and new business opportunities.
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