Real Estate & Construction News Roundup (08/15/23) – Manufacturing Soars with CHIPS Act, New Threats to U.S. Infrastructure and AI Innovation for One Company

In our latest roundup, wildfires wreak havoc in Maui, JLL unveils an AI specifically for commercial real estate, the lasting effects of the CHIPS ACT, and more!

• So far, 11,000 JLL employees have used the company’s new proprietary large language model that has generative AI capabilities specifically for the commercial real estate industry. (Lindsey Wilkinson, Construction Dive)
• Since the enactment of the CHIPS Act, manufacturing activity has boomed with a nearly 80% increase from June 2022. (Sebastian Obando and Julia Himmel, Construction Dive)
• Construction-tech-focused investors among others have poured $35 million into an Israeli startup that develops leakage detection technology using artificial intelligence to prevent water damage. (Sharon Wrobel, Times of Israel)
• Just as the wildfires began in Maui, the U.S. Department of Housing and Urban Development (HUD) announced $21.3 million in funding to support the housing needs of low-income Native Hawaiian families. (U.S. Department of Housing and Urban Development)
• Corporate America remains committed to their ESG goals; however, recent earnings calls show the term itself being reduced in usage. (Eleanor Hawkins, Axios)
• AI companies are starting to reignite San Francisco’s technology commercial real estate market after several years of drop off. (Beatrice Nolan, Business Insider)
• With tensions mounting, cybersecurity officials warn of China’s possible destructive attacks on U.S. critical infrastructure. (Kevin Collier, NBC)
• Government-funded infrastructure projects will expand requirements for use of American-made materials and products after being finalized by the White House Office of Management and Budget (OMB). (David Shepardson, Yahoo)

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