JLL Perspectives podcast: AI is sparking an office space race
From JLL Perspectives · 41:06
Show by JLL Australia
AI was supposed to empty our offices. So why are tech companies in a physical space race?If you've been reading the headlines, you'd think AI is about to decimate office demand. But the data tells a very different story, and in some major markets, it's the complete opposite.Tech companies building AI infrastructure are expanding aggressively. Sydney's tech sector has nearly doubled its office space in just five years to over 400,000 square metres. In San Francisco, AI firms now capture nearly 30% of all office leasing.But the twist is, while AI creators are gobbling up premium space, traditional businesses are using the same technology to automate back-office roles and "do more with less." So, what's actually happening to our city centres?In this episode, host Rebecca Kent sits down with three JLL experts to unpack the paradox:Yuehan Wang, who leads JLL's Global Technology Research Programme, reveals the widening gap between premium "experience quotient" assets that are thriving and older B-grade buildings sliding into a "disruption zone."Ronak Bhimjiani, real estate economist for Australia and New Zealand, explains why we need to stop conflating labour market impacts with real estate impacts: "They're not actually tracking on the same trajectory."James Montague, head of office leasing in Australia, shares what landlords are really worried about and why he still sees this as "a growth factor rather than a detractor."Together, they explore which industries and job roles are most exposed to automation, what the "co-pilot economy" means for workplace design, and why investors need to think in scenarios, not certainties.The conversation goes to some unexpected places – from the eye-watering cost of AI tokens to whether deepfake technology will make face-to-face meetings the only way to build trust by 2030.Whether you're a landlord assessing your asset, an occupier planning your next lease, or an investor trying to separate signal from noise, this episode will challenge what you think you know about AI and the future of work.Listen now.
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