Generative AI (also known as "Generative Artificial Intelligence" or "Gen AI") refers to a special form of artificial intelligence (AI) capable of creating new content and solutions, rather than merely analyzing and summarizing existing data. This technology uses complex algorithms to independently generate new outputs in response to specific prompts, drawing from pre-trained information such as text, images, or audio. Some of the most well-known applications include text generation, image and video creation, and even music composition.
One type of generative AI is Large Language Models (LLM), which are trained to process and generate large amounts of text. Multimodal Large Language Models (MLLM) go a step further, as they can simultaneously handle and combine multiple data types such as text, images and audio files.
In the real estate industry, generative AI can be applied to create simulations for building planning and optimization. Facility managers and technical operations teams can use simple text or voice inputs to retrieve information, test hypotheses, and receive real-time support for their daily decisions in the operation of technical building systems. Property owners and asset managers can in turn leverage the technology to access tailored insights on the performance of their portfolios.
