While the engineering and construction industry contributes more than $10 trillion a year to the U.S. economy, it has traditionally been behind the curve when it comes to advanced technology.
While other industries are incorporating artificial intelligence (AI) and robotics into production to improve operations and meet increasingly sophisticated customer demands, many construction firms have yet to adopt these technologies.
AI in Construction: Industry Trends
A McKinsey report outlined the current state of AI in the construction sector, noting three specific areas in which AI could significantly impact operations: project scheduling, worker safety, and preventative maintenance.
Let’s look at these areas and others in which AI could prove beneficial in construction.
1. Project Management and Scheduling
Cost overruns due to project delays are inherent within the construction industry. Inefficient project planning leads to increased costs and lost revenue for both construction companies and building owners.
AI can sort through an unlimited number of alternatives for project delivery. Rather than depending on the project manager’s ingenuity, AI learns from multiple iterations of potential project plans. Creating multiple options for time, materials, and project cost, AI delivers options previously unrecognized in the construction industry.
The pharmaceutical industry uses AI predictive applications to forecast project risks of technical solutions, which ultimately provides decision-making insight and saves millions of dollars during highly expensive, long-term development processes.
Similarly, the transportation industry uses AI for route optimization, reducing costs for all supply chain players. AI is also used to optimize inventory and reduce manufacturing, wholesale, and retail costs.
