target audience: TECH BUYER Publication date: Nov 2023 - Document type: IDC Perspective - Doc Document number: # AP51316923
CapitaLand Group Leverages Generative AI for Its Real Estate Investment Management and Development Businesses
This IDC Perspective examines the use of generative AI (GenAI) by the CapitaLand Group (CapitaLand) and how it has successfully implemented it in its business. CapitaLand is one of Asia's largest diversified real estate groups. Based in Singapore, CapitaLand's portfolio, spanning across more than 260 cities in over 40 countries, focuses on real estate investment management and real estate development. CapitaLand has explored potential use cases that could be supported by large language models (LLMs). The company found that GenAI could be valuable and leveraged very quickly for two specific use cases: internally, as a knowledge management solution for employees, and externally for conversational applications, such as a chatbot, to support customer enquiries. The primary driver for GenAI adoption is to enhance customer experience and to improve employee productivity with a longer-term view of enabling them to deliver differentiation in their product offering," says Rakesh Patni, associate research director, IDC Future of Operations and IDC Energy Insights.