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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 30 October 2023 I N D U S T R Y U P D A T E problems by drawing space plans line-by- line, using drawing tools like AutoCAD, a long and time-consuming process. qbiq's generative AI and visualization platform is delivering the most ad- vanced technology for space design and optimization in the real estate industry, accomplishing in a matter of minutes what used to take weeks. The platform allows its users to input any space layout and design requirements and seamlessly receive a full planning package with mul- tiple optimized layouts and 3D visual- izations, immediately unlocking the full potential of a particular space. With qbiq, brokers, landlords, and architects are now immediately able to tailor any space to any potential tenant, with any requirements. Tenants can make decisions more efficiently, brokers can close deals faster, landlords save money from reduced vacancy due to shorter deal cycles, and architects can boost their planning capacity. "In an industry where the last signif- icant technological leap happened over 30 years ago, we are long overdue for the next one," said Leeor Solnik, CEO and Co-Founder of qbiq. "We are excited to bring one of the most cutting-edge gen- erative AI technologies to the real estate industry for the first time. Since launching last year, our users have already experi- enced a significant boost in deal cycles and deal closing rates. Together with our stra- tegic investors, we look forward to paving the way to real industry transformation." "qbiq's AI-based platform enables our deep bench of global real estate advi- sors to provide exemplary client service with innovative software tools that ac- celerate transaction time across multiple JLL business lines. Not only do we expect to increase our volume and closure rates with qbiq's planning and design solution, but our partnership will contribute to the language model with the sheer amount of data available at JLL and position qbiq as a dominant market leader," adds Raj Singh, Managing Partner of JLL Spark. qbiq's platform is based on multiple layers of technology, including an AI layer that is loaded with a vast amount of architectural planning data and best practices, geometrical optimization engines, parallel cloud computing, and a regulation layer. Once users submit their preferences on qbiq's platform, the AI engines generate thousands of different alternatives and compare the results within seconds. When the optimal alter- native is finalized, the platform automat- ically produces high-res 3D virtual tours, enabling full visualization of the new space from the inside. "qbiq enables us to produce test fits in 24 to 48 hours instead of one to two weeks, facilitating quicker decision-mak- ing and reducing costs for our team. It's the most effective technology we've experienced for rapidly generating space plan scenarios" added Luigi Sciabarrasi, AECOM SVP, Global Real Estate. To date, qbiq has already delivered over 150 million square feet of AI-designed office space layouts to hundreds of users globally, including some of the biggest names in the industry such as JLL, CBRE, Colliers Inter- national, Cresa, Perkins & Will, AECOM, Avison Young and many more. Demand for planning has been tripling every few weeks and the number of users of qbiq's platform has quadrupled since the beginning of 2023. WELLS FARGO DONATES $500K TO HURRICANE IDALIA VICTIMS C alifornia-based Wells Fargo an- nounced it will donate $500,000 to Volunteer Florida and its Florida Disaster Fund to aid Floridians in the aftermath of Hurricane Idalia. The funds will go to the emergency response effort, according to a press release. That includes providing shelter, supplies, and services for those who have been displaced from their homes. In addition, the financial services company stated that it will provide accom- modation for its customers in Florida who were directly impacted by the storm. "Supporting customers, employees, and communities across the state as they recover from the hurricane is a priority for us," CEO Charles Scharf announced in a written statement. "We are grateful for Volunteer Florida's leadership in local relief efforts and its ability to offer essential services in the wake of the devastation." Scharf added that the donation is meant to expand Volunteer Florida's capacity to reach those who need it most. Officially recognized as the Florida Commission on Community Service, Volunteer Florida, according to the non- profit's literature, "strengthens Florida's communities through national service,