AI in Construction: Benefit #1...Prevent Cost Overruns


Most big projects go over budget despite employing the best project teams. Artificial Neural Networks are used on projects to predict cost overruns based on factors such as project size, contract type and the competence level of project managers. Historical data such as planned start and end dates are used by predictive models to envision realistic timelines for future projects. AI helps staff remotely access real-life training material which helps them enhance their skills and knowledge quickly. This reduces the time taken to onboard new resources onto projects. As a result, project delivery is expedited.