Modernizing construction with intelligent platforms
Capturing data through the use of a common environment with integrated machine learning and AI could make that data more useful and meaningful to the construction industry. When construction projects depend on highly complex decision-making, the need to eliminate risks and inefficiencies can also reduce project delays and costs.
The adoption of construction technology over the last 20 years has led to improved efficiencies in specific areas, but challenges remain when it comes to data, which is often locked away and siloed in specific applications. This prevents construction firms from getting a holistic view of the performance of processes and projects.
Improving how data is managed can help construction businesses get the most out of their investments.
Creating a common data environment
Connecting information and teams in a CDE drives collaboration and trust, which is critical for effective digital transformation. Information can be stored and accessed using a cloud-based solution that significantly improves data management and sharing by connecting models and teams in one shared environment. This fosters collaboration and creates an end-to-end digital record of every project.
A CDE also lets each team member access the data they need to make informed decisions across the project. This, in turn, is critical in driving continuous improvement and efficiencies across the entire pipeline.
For construction firms looking for an edge, predictive AI is the forward-looking solution. Looking at historic data is only useful in analyzing ongoing projects. Predictive AI looks at what is likely to happen during the construction process, improving the chances of delivering any project within budget and on time. These predictive insights are crucial in improving outcomes via improved decision making.
Using AI can give a dynamic view across project variables, including delay probabilities and the factors that can cause them. It can also predict the probable length of a delay, the severity of any projected overrun, and hidden risks around rework, safety and potential litigation.
AI also powers active intelligence, where organizations can continually assess the present while learning from the past. This, in turn, yields valuable insights into every area of project management including schedule, budget, safety and quality. These real-time insights enable construction firms to monitor and adjust their projects as necessary.
In addition, by creating dynamic intelligence, machine-learning-based models can be trained to become more accurate and smarter over time. As a result, teams can be empowered to make timely and informed decisions that create better outcomes.
Covid-19 has created incredible disruptions for the construction industry, which is now under pressure to adapt to greater competition, different project types and a shrinking labor force. Combined with the increasing complexity of project delivery, firms are being forced to reevaluate their adoption of technology.
New platforms powered by ML and AI are helping the construction sector to free and convert data into the kind of useful intelligence that accelerates and transforms performance. Construction firms will get the most out of their platforms when they learn from past data to drive future outcomes and move the industry forward.