First Draft Live: JLL President of Technology Solutions Reeves Davis — CRE Clients Are Using AI Now. So What's Left To Sell?

By now, most big companies in America say they're using AI.

In the last few weeks, Apollo's chief economist, Torsten Slocke, went through Q2 earnings and found 69% of S&P 500 companies now point to a live AI deployment.

But ask them to show what AI has actually delivered, and the number falls off a cliff.

Only 29% could put a number on a result.

Just 2% track a metric over time.

And not one of them breaks out AI as its own line on the P&L.

And when companies do put a number on it, 70% of the time it's about cost cutting.

Commercial real estate looks a lot like that.

JLL found that the shares of corporate real estate firms running AI pilots went from 5% to 92% in three years, but only 5% of the people it surveyed say they've hit most of the program's goals.

Meanwhile, The bills keep climbing.

CBRE spent nearly $1.7 billion on computer hardware and software last year, up $300 million from the year before.

And AI isn't running cheap to run anymore.

Meta, Uber, and Walmart have all told employees to rein in their token spending.

So the question for this industry... may not be whether ai works it may be who builds it who answers for it when it doesn't hold up and who can get the industry to actually use it to help unpack all that i'm joined today by reeves davis president of technology solutions at jll and to our audience send your questions into the chat we'll get to as many as we can reeves welcome to first draft live

By now, most big companies in America say they're using AI.

In the last few weeks, Apollo's chief economist, Torsten Slocke, went through Q2 earnings and found 69% of S&P 500 companies now point to a live AI deployment.

But ask them to show what AI has actually delivered, and the number falls off a cliff.

Only 29% could put a number on a result.

Just 2% track a metric over time.

And not one of them breaks out AI as its own line on the P&L.

And when companies do put a number on it, 70% of the time it's about cost cutting.

Commercial real estate looks a lot like that.

JLL found that the shares of corporate real estate firms running AI pilots went from 5% to 92% in three years, but only 5% of the people it surveyed say they've hit most of the program's goals.

Meanwhile, The bills keep climbing.

CBRE spent nearly $1.7 billion on computer hardware and software last year, up $300 million from the year before.

And AI isn't running cheap to run anymore.

Meta, Uber, and Walmart have all told employees to rein in their token spending.

So the question for this industry... may not be whether ai works it may be who builds it who answers for it when it doesn't hold up and who can get the industry to actually use it to help unpack all that i'm joined today by reeves davis president of technology solutions at jll and to our audience send your questions into the chat we'll get to as many as we can reeves welcome to first draft live