By Aaron Rafferty, Co-founder & CEO, Standard
Artificial intelligence (AI) is here to stay, whether you like it or not. AI is a remarkably transformative technology that has inspired fundamental change in many industries, affecting both business leaders who have chosen to adopt it and those who are more persistent in avoiding its influence.
With that in mind, companies need to consider the role that artificial intelligence could play in their businesses. As with any new technology, there has understandably been a great deal of hesitance surrounding AI’s adoption.
Many businesses are hesitant to embrace change on a massive scale, particularly in a sector that is so critical to our infrastructure and society as construction. However, adopting tools that can make the industry more productive is nevertheless crucial to remaining competitive – both today and well into the future.
Artificial intelligence has shown its potential to streamline workflows and make workers more efficient across several industries, with a Forbes survey finding that 64% of business owners expect artificial intelligence to increase productivity. Other key benefits include improving customer relationships, saving costs, reducing response times, reducing the risk of errors, enhancing decision-making, and streamlining job processes.
How Construction will be Changed by AI
Considering its heavy reliance on manual labor, the construction industry might seem relatively untouched by the AI revolution, yet some may not realize how extensively tools like machine learning and computer vision have been used in construction and building management. The commercialization of AI is making these tools more accessible and affordable than ever before, which will undoubtedly have a massive, transformative impact on the industry.
For example, one of the main benefits of artificial intelligence that proponents have touted is its advanced data analytics capabilities. An AI model can analyze extensive data sets much more quickly than human workers. In the construction industry, these data analytics capabilities could have surprising implications, allowing leaders in the construction business to make their worksites safer, more efficient, and more profitable.
AI has also been used to analyze worker output and optimize process efficiency in many industries, and these same principles can be applied to construction to ensure workers are as efficient as possible. These data analysis capabilities also enable AI to conduct advanced predictive analytics, which can be leveraged in powerful ways by construction leaders.
For example, AI models can analyze historical trends for prospective construction sites and determine optimal locations for development. AI can also aid in risk analysis, allowing business leaders to make more informed decisions regarding worker safety, while its predictive analytics capabilities can be used to forecast future supply needs so construction businesses can avoid overstocking or understocking materials.
Another major function of artificial intelligence that could serve the construction industry is workflow automation, which will be particularly useful for some of the more menial tasks in the construction business, such as inventory management. Particularly at a time when the supply chain is still struggling with rampant shortages, AI-powered inventory management can help ensure the most seamless and efficient operations possible. When inventory is managed by AI, the technology can automatically reorder supplies when a need arises, ensuring work never has to stop due to a lack of inventory.
Other AI-powered tools are being used more extensively in other industries but also have exciting applications in construction. A great example of this type of use case is generative video. Although most uses of generative video are for purposes like training, marketing, and accessibility, generative video has shown great potential for the preconstruction phase of construction, enabling businesses to create vivid virtual tours and property modeling and assess space utilization – all with minimal effort.
AI Copilots and Autonomous Agents in Construction
Those worried that artificial intelligence will take over human jobs will be relieved to learn that a majority of AI tools in the construction industry are “AI copilots” – a term used to describe artificial intelligence tools that accomplish routine tasks with improved speed and efficiency. As the name suggests, copilots are not designed to be a be-all-end-all but a resource to offer guidance and assistance. Since these tools are generally already embedded in workflow tools, they help streamline work processes significantly.
However, even the more self-sufficient use cases of artificial intelligence – in the form of AI autonomous agents – are taking over the most routine and repetitive tasks that distract human workers from the brunt of their duties. By automating these tasks, such as inventory restocking, construction businesses can free up their workers for the more intensive tasks of their jobs that require their effort.
Few industries have emerged from the artificial intelligence revolution without having experienced a positive transformation, and the construction sector is no exception. Thanks to AI’s power to improve efficiency, streamline processes, and free up human resources through automation, the construction industry will see incredible, lasting productivity gains.
Now is the time for business leaders to embrace this technology when they have the chance to be ahead of the game rather than behind the pack.
Aaron Rafferty is the co-founder and CEO of Standard, a technology incubation hub working with stakeholders to create 0 to 1 solutions to key issues in their business. Under this umbrella includes CREHawk, a commercial real estate workflow automation engine, as well as Tech Buzz, a media company that delivers daily tech and AI news, insights, and deals to an audience of 700,000 investors, founders, and tech enthusiasts.