By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
9
Notification Show More
News
‘We’re not that strong’: China’s Huawei says it lags US in chipmaking
41 minutes ago
News
EU to ‘step up’ on cyber security as dependence on US laid bare
2 hours ago
News
Military veterans object to Donald Trump deploying soldiers to Los Angeles protests
5 hours ago
News
Trump’s show of force in Los Angeles
7 hours ago
News
Apple to give app developers access to its artificial intelligence models
8 hours ago
News
OpenAI’s expected subscription revenue doubles to $10bn
9 hours ago
News
Trump eyes easing US chip export restrictions to secure Chinese rare earths
10 hours ago
Videos
Tesla CEO Elon Musk: “Starting next month I’ll be allocating far more of my time to Tesla”
11 hours ago
News
California to sue Donald Trump for deploying National Guard in Los Angeles
11 hours ago
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Small Business > AI Techs Disrupting Construction Companies: A Candid Overview
Small Business

AI Techs Disrupting Construction Companies: A Candid Overview

News Room
Last updated: 2023/11/07 at 1:52 AM
By News Room
Share
6 Min Read
SHARE

If you’re running a construction business or team you want to be up to speed on the software and hardware that’s leveraging the latest Artificial Intelligence tools so that you can leverage these features to get work done faster, cheaper and with greater accuracy. Over the next few years there will be a proliferation of technologies that will be using AI to disrupt the construction industry. But there are plenty of great tools available right now to consider. Here are a few.

Project Management

Project management software applications are now using AI for the following purposes:

-automatically assigning tasks based on roles and availability;

-creating and optimizing new projects based on prior projects;

-tracking actual vs. budgeted expenditures with alerts and suggestions;

-forecasting completions based on prior projects, milestones, timelines and activities;

-automatically communicating and responding to both team members and clients;

-identifying anomalies in project progress compared to similar projects;

-providing real-time internal and external analytics.

Applications to check out: Procore, ClickUp, Kwant, BuildStream, AutoDesk

Training and Remote Management

Virtual and augmented reality headsets are now being deployed with AI capabilities on construction sites and in the office to enable:

-training for new workers in a controlled and safe environment;

-identification of safety issues;

-recording of project process for further analysis;

-visual confirmation of projects for offsite team members;

-on-demand review of designs and plans.

Products to check out: Microsoft Hololens, Magic Leap One, Meta Quest

Surveying and Inspections

Companies using drones, mobile devices and autonomous vehicles are providing their products to construction customers that use AI to:

-conduct visual pre-surveys of project sites;

-analyze site conditions;

-monitor project progress;

-track worker safety;

-patrol physical spaces and then create models;

-take images of physical spaces to calculate distances and volumes.

Companies and applications to check out: DroneDeploy, Scopito, Pix4Dcatch, Mapware, PrecisionAnalytics, Airworks.io

On-site worker support

AI technology is now being used to power robots that are already performing some of the basic tasks that workers perform such as:

-welding materials and removing waste such as nails and other materials from scrap materials;

-lifting and moving objects around a job site;

-autonomously transporting materials;

-monitoring sites for safety issues.

Companies to check out: KUKA Robotics, ABB Robotics, Boston Dynamics, Dusty Robotics

Building Design

New CAD/CAM software products are using AI to:

-create and model new designs based on prior or similar projects;

-suggest design enhancements;

-identify potential design flaws and structural issues;

-perform predictive modelling based on a designer’s instructions;

-suggest energy savings;

-analyze historical project data and simulate different scenarios;

-optimize resource allocation;

-assist in generating 3D models;

Applications and companies to check out: Fusion360, Bentley Systems SYNCHRO, Alice Technologies

Estimating

To do an estimate it’s common to have drawings, plans or photos of the potential site. Estimating tools that are now leveraging AI to read those documents and files in order to:

-identify spaces, sizes at a location;

-calculate dimensions, weights and other measurements;

-compare prior and current plans for differences;

-identify potential problem areas;

-automatically pull in products from prior purchases to determine costs;

-suggest labor hours and materials required;

-create draft estimates for review.

Applications to check out: Togal.ai, CountBricks, PlanSwift

The blunt truth: these products are expensive.

They will require a significant amount of time, resources and dollars to truly use them the right way. Many that I’ve included above are likely out of the wheelhouse for many small and mid-sized construction firms.

Project management applications take time to implement. Virtual reality headsets need programming. Surveying and inspection technologies also require programming as well as equipment maintenance and replacement costs. Robots, while coming down in cost, are still a big company thing and are far from perfect. Building design software requires a certain leap of faith and much validation. Estimators need training and support to properly use the AI features in their software.

Their AI capabilities are still in their infancy. Justifying the return-on-investment may be difficult. Just like all those miraculous mobile apps that appeared after the iPhone was introduced, it’s a guarantee that some of these products will die on the vine, as will the companies behind them.

But…it’s still exciting. Now that the cost of storage, processing and cloud computing has decreased so much the door is open for a new wave of AI-based technology that will change the way construction firms do business in just the next few years. Those mentioned above are ahead of the pack and worth a look.

If you’re running a construction company it’s important that you stay on top of these technologies. As they mature you’ll find their use of AI will help you increase productivity, reduce overhead and grow profits. And I’m betting your competitors will be doing the same.

Read the full article here

News Room November 7, 2023 November 7, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
‘We’re not that strong’: China’s Huawei says it lags US in chipmaking

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

EU to ‘step up’ on cyber security as dependence on US laid bare

Stay informed with free updatesSimply sign up to the Cyber Security myFT…

Military veterans object to Donald Trump deploying soldiers to Los Angeles protests

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Trump’s show of force in Los Angeles

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Apple to give app developers access to its artificial intelligence models

Stay informed with free updatesSimply sign up to the Technology sector myFT…

- Advertisement -
Ad imageAd image

You Might Also Like

Small Business

Why Do We Stay In A Job When We Are Not Happy? Insights To Help You Get The Career You Deserve

By News Room
Small Business

Making A Large Language Model Transparent, Compliant And Reliable

By News Room
Small Business

The Important Initiative For Real Digital Marketing Results

By News Room
Small Business

The Future Of Real Estate

By News Room
Small Business

How AI Is Transforming Healthcare Risk Adjustment

By News Room
Small Business

How Do Hard Knocks Help? 5 Life-Changing Lessons Taught By Adversity

By News Room
Small Business

Lessons Learned From The World’s Most Successful Startups

By News Room
Small Business

Small Business Saturday Encourages Consumers To Shop Small And Local

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?