All types of companies are embracing the data and analytics journey that JLL has been on for several years. I had a chance to hear about many examples first hand when I attended a breakfast panel meeting presented by McKinsey and Microsoft on cutting edge Artificial Intelligence and another on the impact of technology on traditional industries.
The AI panel talked about cognitive learning and gave specific examples to illustrate the promise of the technology. A leading American hospital system is using AI to augment its expertise and increase clinical trial participation for some new cancer therapies by over 30%. The result has been faster learning and a shorter time to viable therapies for patients. A Formula One racing team is using AI real time to optimize strategies that must shift during long races, resulting in more wins and identification of areas to improve the cars themselves. We can think of many ways we at JLL can leverage our talent and expertise through AI to enhance our decision making and insights for clients in the future.
The second panel discussed the practical journey of a company that has created competitive advantage in farming through the use of data, technology and analytics. It uses data to optimize crops yields for farmers and increase output per acre by matching solutions to predictions for weather and other challenges on the specific farmland.
Similar to this farming program, JLL is on a journey to increase client value, and data and analytics are increasingly part of the day-to-day business model. We are using our tools to help our clients make better decisions, and increase value for their companies and their people.
Throughout my client visits in Davos, I am constantly asked about our efforts around data, analytics and even AI. This Fourth Industrial Revolution is very much on the minds of government and corporate leaders, and they are looking to us to be a big part of their solutions around the built environment through tools like RED, PAT, Blackbird and others we will create, together.