b'Continued from Page 16 Data is plentiful in construction today but often isnt I also holds significant promise in improving constructionaccessible, clean or fully utilized. Data maturity is a safety. AI-powered drones and robots can be used toconcept used to measure an organizations capability monitor sites for safety hazards, while data from wearablesto manage and utilize data. Its a journey from basic can be analyzed to detect signs of worker fatigue or stress.data collection to transforming data into a strategic AI can allow us to often see what can not be seen in realasset.time by a human to help prevent accidents and improveAs organizations think about AI they need to first overall site safety. better understand where they lie on the data maturity HELPING REDUCE FINANCIAL RISKS scale and find ways to make progress. With a strong AI is becoming an instrumental tool in financialfoundation of high-quality, well-managed data, management within the construction industry, particularlyin helping to mitigate risk, minimize cost overruns andorganizations can be well positioned to experience the enhance forecasting accuracy. AI technologies can enable acompounded benefits that AI can bring across the more in-depth understanding of resource usage and projectvarious phases of a construction project.spending, which can lead to cost savings through informedEXPEDITING PRECONSTRUCTION PROCESSdecision-making and resource allocation. AI is revolutionizing the initial stages of construction. In terms of risk management, AI assists in theIt enables the automatic generation and optimization identification, evaluation and mitigation of various projectof designs based on predefined criteria, helping reduce threats, helping to avoid costly delays and create saferthe time taken to create and finalize construction construction environments. Furthermore, AIs predictiveplans. AI also aids in project planning by predicting capabilities can help improve forecasting accuracy,the likely outcomes of different strategies, allowing for allowing for better budgeting and cost control. better decision-making and risk mitigation.THE FUTURE OF AI IN CONSTRUCTION SUPPORTING DECISION-MAKING DURING The future of AI in construction is promising for bothTHE COURSE OF CONSTRUCTIONautomation and improved decision-making. We can expectIn project management, AI shines in its ability to to see improved productivity due to the automation ofprocess vast amounts of data to generate actionable complex tasks throughout the project lifecycle. And asinsights and speed decision-making. In an industry various AI technologies become more sophisticated andsurvey of over 1,000 professionals, on an average 18% are trained more specifically in our industry, their ability toof the total time on a project is spent looking for data analyze complex situations and provide insightfulor information. In the same survey, 43% of recommendations will only improve. respondents felt they would make better decisions if As companies start recognizing the value of investing inthey had greater access to real-time and historical data maturity and the quality of inputs, these AIinformation on project performance.technologies will also improve. This will lead to AIThese are all areas where AI can have a big impact. It becoming more and more ingrained in workflows andcan expedite the speed of decision-making by putting decision-making throughout the construction lifecycle.critical information at the fingertips of decision There is a good chance that companies that wait tomakers. It can also analyze project timelines, resource understand or embrace this technology could be left behindallocation and performance data to provide in an increasingly competitive industry.recommendations for efficiency improvements. AI BY KRIS LENGIEZAcan even forecast potential project delays or costoverruns, enabling preventive measures to be taken.AI will play a huge role in reducing risk by helpingstakeholders make data driven decisions. 19'