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A leading global commercial real estate firm will embed artificial intelligence (AI) into every phase of its property transaction life cycle.
Cushman & Wakefield has unveiled a new digital strategy, called AI+, that aims to enhance outcomes for both clients and employees.
As part of the new strategy, Cushman & Wakefield plans to work in partnership with technology providers and clients, using proprietary data in order to “deliver digital transformation at scale”.
The ultimate goal of AI+ will be to deploy artificial intelligence and make the firm’s enterprise expertise and insights more accessible for brokers and researchers, by providing real-time information and automation. Not only will this ideally make team members more productive, Cushman & Wakefield also hopes AI+ will improve client delivery and data stewardship.
Salumeh Companieh, chief information and data officer at Cushman & Wakefield, stated: “While generative AI is a phenomenal addition to our capabilities, the true power of transformation lies at the convergence of data, people, processes and technology.”
“By seamlessly integrating these elements, we can magnify the impact of secure and well-planned digital transformations for our clients and colleagues,” she said.
Cushman & Wakefield reported that it began integrating AI into operations in 2018, and was pleased to find it resulted in an 80 per cent reduction in operational cycle time.
Client supply chain costs were also reportedly cut back with the help of AI, due to the technology’s supply chain optimisation capabilities.
Ms Companieh stated: “Through AI+, which unites our talented advisors, digital platforms and strategic technology partnerships, reinforced by the intersection of our proprietary and external data, Cushman & Wakefield is poised to enable our clients and firm to harness the full spectrum of emerging technologies and set a new standard for CRE insights.”
One of the technologies Cushman & Wakefield will harness is Jasper, an AI marketing copilot that has experienced a surge in popularity in recent years.
Andrew McDonald, global president of Cushman & Wakefield, revealed that the firm hopes to use AI+ to create “the CRE platform of the future”.
Mr McDonald described AI+ as “a nimble, scalable and secure operating model for addressing forthcoming needs of owners, occupiers and our firm”.
As technology continues to take the world by storm, Cushman & Wakefield emphasised that fully harnessing the power of data and AI is “essential to the new era client experience”.
“Cushman & Wakefield’s longstanding, unwavering commitment is to deliver exceptional client service through industry-leading thought leadership and expertise,” Mr McDonald concluded.
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