In 2018, the majority of businesses said they were investing 50 percent more in AI. Leaders in many industries have watched the rise of artificial intelligence with interest. The more sophisticated AI becomes, the more it will revolutionize the way we do business.
What are some of the current uses for AI in business? How are those changes affecting the construction industry? The answers to these questions may surprise you. In this guide, we’ll explore just five of the ways business AI could reshape the future of construction.
1. AI in Business Streamlines Decision-Making
Right now, AI’s biggest strength is its ability to take massive amounts of data and analyze it for patterns. The machine can then make a decision based on the historical information it’s been given. It uses algorithms to predict what’s most likely to happen. This ability is being used in many different industries to streamline decision-making processes. The construction industry is no exception to the rule here.
AI can be employed in many different decision-making processes in the construction industry. For example, it may be able to use historical information to determine when to order supplies. It may also be able to decide how much to order for a particular project. One of AI’s shortcomings is that it isn’t great at decisions in unstructured environments. The construction job site is one such environment.
That said, it’s reasonable to assume, that as AI improves, it will be able to make more “common-sense” decisions. As it becomes more capable, AI will assume more responsibility at construction sites.
2. AI Takes over Routine Tasks and Revolutionizes Them
While today’s AI might be best at analyzing information for patterns, there’s hope it will be able to do much more soon. This hope is already reflected in new technology like self-driving cars. This is one area where the construction industry may become an early adopter. Self-driving trucks are already available. Self-driving construction equipment is involved in mining and the oil industry.
Is the construction industry far behind? It’s not hard to imagine a future where large equipment becomes self-driving. Again, the construction site’s unstructured nature limits AI’s usefulness. Sites that have regular routes for driving are better targets for AI right now. In the future, self-driving vehicles may be a staple of the construction site.
3. Smart Models and Buildings Alert People When There’s a Problem
Artificial intelligence in business is also being employed in different modeling projects. For example, AI can be used in building information modeling, or BIM. The construction industry already uses BIM, but AI can identify missing pieces. Today’s AI allows engineers and architects to model decisions, such as using a different material. This allows them to make better decisions for creating efficiency in the building.
AI can also be used in existing buildings. As technology advances, it will become more involved in building management and maintenance. An example might be temperature controls. AI can take historical information and analyze this data. It can then predict energy use. This helps building managers make more energy efficient decisions.
AI can also track maintenance tasks. Reports and alerts can help building managers stay on top of these tasks. Buildings will be more efficient and experience fewer issues.
4. AI Will be a Competitive Advantage
In business, artificial intelligence is separating early adopters from the crowd. In the construction industry, it’s dividing small and mid-sized firms from larger ones. Large companies have much more data, and they’re also in a better position to invest in new technologies like AI. These companies will gain a competitive advantage over their smaller competition.
One potential solution to this issue would be to create a shared industry database. Smaller firms would be able to access more information than they can collect on their own. Although companies will say data is confidential, an industry-wide database could be helpful. For example, it might help companies achieve particular goals. These might include improving safety standards or reducing construction waste.
AI Will Change Customer Service
With artificial intelligence, business leaders are also changing customer service. This change could spread to the construction industry as well. This will add to a construction firm’s competitive advantage. The use of AI could improve schedules and delivery, as well as reduce costs. The use of AI could also improve the modeling used to show projects to customers. As AI takes over routine tasks, people will be able to focus on human interactions. Your customer relationships stand to benefit.
5. Construction Companies Must Change the Way They Handle Data
One of the biggest changes coming from the use of AI in business is operational in nature. Businesses planning to adopt any sort of AI need to change the way they handle data. Today’s AI learns by ingesting huge amounts of data. It analyzes the information to make predictions.
While researchers are continuing to push forward, most of today’s AI runs on structured data. You need to make sure you’re collecting and storing your information in a way that’s useful for the machine. Construction companies are also looking to increase the amount of data they collect. Drones, wearables, and other technologies become data collection stations in the field.
To handle all this information, construction companies will need new data management policies. They may need to invest in new infrastructure. AI is revolutionizing how construction companies integrate technology into their day-to-day activities.
Join the AI Revolution Today
These are just some of the ways AI in business is setting the stage for change in the construction industry. There are many more ways AI is changing the industry. The future holds even more promise for what AI will be able to do.
Are you ready to put AI to work in your construction company? You can improve productivity and more by leveraging your field data. Get in touch with us to find out how AI can start benefiting you right now.