Cushman & Wakefield to embed AI into transaction process
Commercial real estate services firm Cushman & Wakefield has become the latest property company to embed artificial intelligence (AI) into its transaction process.
The firm’s new digital transformation strategy, called AI+, aims to enhance client and employee outcomes.
Cushman & Wakefield said it is digitally advancing operations, client delivery and data stewardship to create a new industry standard for commercial real estate (CRE) while enhancing its own productivity.
The initiative looks to deliver a digital transformation at a large scale, with Cushman & Wakefield deploying a combination of AI products to increase both access and speed-to-market for its insights and expertise. Cushman & Wakefield said these advancements will empower brokers, services, and research professionals to support decision-making and other needs.
The firm said AI+ will enable it to unlock new insights and operational efficiencies through cutting-edge partner technologies, including its AI marketing copilot Jasper, as well as large language models to bring to life curated and optimised data sets across the business.
This is not the first foray into AI for Cushman & Wakefield, which introduced artificial intelligence to its business in 2018. Since then, the firm has recorded an 80% material reduction in its operational cycle time and a decrease in client supply chain costs via its proprietary supply chain network optimisation capabilities.
Salumeh Companieh, chief information & data officer of Cushman & Wakefield, said: “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. 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.”
Andrew McDonald, global president and chief operating officer, added: “Cushman & Wakefield’s long-standing, unwavering commitment is to deliver exceptional client service through industry-leading thought leadership and expertise.
“Through AI+, which stems from our deep understanding of digital and data maturity, Cushman & Wakefield can bring clients the ‘CRE platform of the future’ today through an approach that also provides a nimble, scalable, and secure operating model for addressing forthcoming needs of owners, occupiers, and our firm.”