Design, bidding, and financing; procurement and construction; operations and asset management; and business model transformation are all areas where AI has the potential to assist participants to realise the value in construction. Moreover, AI in construction helps the industry as a whole overcome some of our toughest challenges, including safety concerns, labour shortages, and cost and schedule overruns. For the time being, AI is being used to track the real-time interactions of workers, machinery, and objects on the site and alert supervisors of potential safety issues, construction errors, and productivity issues.
Machine Learning and AI
Machine learning is similar to a smart assistant that can scrutinise this massive amount of data. The system then notifies project managers of the key items that require their attention. As market barriers are lowering steadily, and advancements in AI and ML are accelerating, you can expect AI to play a more significant role in construction in the coming years. Last but not least, leaders of construction companies should pay attention to investment based on areas where AI can have the most impact on their company’s unique needs.
Early movers will set the direction of the industry and benefit in the short and long term.
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