登录查看更多内容

What are the advantages and disadvantages of using AI and machine learning for construction cost estimation?

由人工智能和领英社区提供技术支持

Construction cost estimation is a crucial process for any construction project, as it affects the feasibility, budget, and profitability of the project. However, traditional methods of cost estimation, such as manual calculations, spreadsheets, or software tools, can be time-consuming, inaccurate, and prone to human errors. This is why some construction companies are exploring the use of artificial intelligence (AI) and machine learning (ML) to automate and improve the cost estimation process. But what are the advantages and disadvantages of using AI and ML for construction cost estimation? In this article, we will discuss some of the benefits and challenges of applying these technologies to the construction industry.

此文章中的业界达人

由社区从 7 条内容中精选。了解更多

Pierpaolo Vergati

?? ?? Senior Construction Project Manager | ?????? Digital Twin Expert???? KNIME certified Trainer. Driving innovation…
Asmaa Atef Atta
Radmehr Joudaki yeganeh

Student at University of Tehran

1 AI and ML for cost estimation

AI and ML are branches of computer science that aim to create systems that can perform tasks that normally require human intelligence, such as reasoning, learning, and decision making. In the context of construction cost estimation, AI and ML can help to analyze large amounts of data, such as historical costs, market trends, project specifications, and environmental factors, and generate accurate and reliable estimates based on complex algorithms and models. AI and ML can also learn from previous projects and feedback, and adjust the estimates accordingly, as well as provide insights and recommendations for cost optimization and risk mitigation.

添加您的观点

Asmaa Atef Atta
举报内容
from my experience AI can help in estimating construction costs by quickly analyzing large amounts of data. It can compare costs of similar projects, factor in material prices, labor rates, and other variables like weather or market trends. This leads to more accurate, faster cost predictions than traditional methods.

已翻译

赞
Radmehr Joudaki yeganeh

Student at University of Tehran
举报内容
Advantages of using AI and machine learning for construction cost estimation: Accuracy: AI and machine learning algorithms can analyze large datasets more accurate cost estimates compared to traditional methods. Speed: Automated algorithms can quickly process and analyze data, resulting in faster cost estimation turnaround times, allowing project teams to make timely decisions. Disadvantages of using AI and machine learning for construction cost estimation: Complexity: Implementing of these tools requires specialized expertise in data science , which may pose a challenge for some construction firms. Initial Investment: Developing and implementing AI-powered cost estimation tools can require significant upfront investment in technology.

已翻译

赞
Rahul Kashyap

Director - BIM Services
举报内容
I am sure, still there is no such tool available. If you create your own LLM model that might take years to build first. Advantage though will be a very quick estimation and tender submission. No disadvantage, as long as it is supervised.

已翻译

赞
Salman Keyani Borujeni

Civil and Structural Engineer, Construction and Risk Manager
举报内容
Advantages: AI and machine learning enhance construction cost estimation by swiftly analyzing vast data, detecting hidden patterns, and adapting over time for more accurate predictions. Automation frees up time for strategic project focus, significantly streamlining the estimation process and improving efficiency.

已翻译

赞
Salman Keyani Borujeni

Civil and Structural Engineer, Construction and Risk Manager
举报内容
Disadvantages: However, relying solely on AI for cost estimation can lead to errors from biased data and struggles with unique project requirements. The opaque nature of some AI algorithms limits transparency and trust, necessitating collaboration with human expertise for logical control and comprehensive, reliable estimates.

已翻译

赞

2 Advantages of using AI and ML

One of the main advantages of using AI and ML for construction cost estimation is that they can save time and resources, as they can automate and streamline the estimation process, and reduce the need for manual inputs and interventions. This can also improve the quality and consistency of the estimates, as they can eliminate human errors, biases, and assumptions, and provide more objective and data-driven results. Moreover, AI and ML can enhance the accuracy and reliability of the estimates, as they can account for various factors and scenarios, and update the estimates in real time, as well as provide confidence intervals and ranges to reflect the uncertainty and variability of the costs. Furthermore, AI and ML can offer more value and insights for the project stakeholders, as they can provide detailed breakdowns, comparisons, and reports of the estimates, and suggest ways to optimize the costs and mitigate the risks.

添加您的观点

Pierpaolo Vergati

?? ?? Senior Construction Project Manager | ?????? Digital Twin Expert???? KNIME certified Trainer. Driving innovation in construction through digital transformation
举报内容
AI and ML offer unparalleled advantages 1.Automating and streamlining estimation processes, AI and ML save time and resources, reducing operational errors due to manual inputs of large amount of data 2.Reducing human errors and, hopely, biases, AI and ML enhance estimate quality and consistency 3.By dynamically accounting for factors and scenarios, these technologies provide real-time updates 4.AI and ML offer detailed breakdowns, comparisons, providing valuable insights to stakeholders and suggesting optimization strategies for costs and risk mitigation Embracing AI and ML in construction cost estimation not only brings efficiency gains but also transforms the industry, promising optimized projects and informed decision-making

已翻译

赞

3 Disadvantages of using AI and ML

However, using AI and ML for construction cost estimation also comes with some disadvantages and challenges. One of the main disadvantages is that AI and ML can be costly and complex to implement and maintain, as they require high-quality data, advanced hardware and software, and skilled professionals to develop, train, and monitor the systems. Additionally, AI and ML can pose some ethical and legal issues, such as data privacy, security, ownership, and accountability, as well as potential biases, errors, and malfunctions that could affect the estimates and the project outcomes. Moreover, AI and ML can face some resistance and skepticism from the construction industry, as some stakeholders may not trust or understand the estimates generated by the systems, or may fear losing their jobs or roles to the machines.

添加您的观点

Pierpaolo Vergati

?? ?? Senior Construction Project Manager | ?????? Digital Twin Expert???? KNIME certified Trainer. Driving innovation in construction through digital transformation
举报内容
AI and ML empower construction cost estimation but bring challenges. Implementation demands significant investment in data, hardware, and skilled personnel. Ethical and legal considerations, including data privacy and accountability, add complexity. Biases and errors in historical data may affect estimates, requiring ongoing refinement and therefore human action. Industry resistance (most of all), rooted in tradition, poses skepticism towards AI-generated estimates. Striking a balance between innovation and addressing these challenges is crucial for the successful integration of AI and ML in construction cost estimation.

已翻译

赞

4 How to use AI and ML effectively

Despite the disadvantages and challenges, AI and ML can offer significant benefits and opportunities for construction cost estimation when used effectively and appropriately. When choosing the right AI and ML solutions, consider their suitability for your project needs, goals, and budget. Also, make sure to have quality and available data that feeds the systems. This data should be accurate, complete, relevant, up-to-date, accessible, secure, and compliant with regulations. Additionally, collaborate and communicate with the AI and ML systems and stakeholders involved in the cost estimation process. Don’t solely rely on the AI and ML systems but use them to support your human judgment. Lastly, communicate clearly with project owners, clients, contractors, etc., about estimates generated by the systems and explain their logic, rationale, and limitations. Solicit feedback from stakeholders to improve estimates and systems.

添加您的观点

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Construction Site Management

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

What are the advantages and disadvantages of using AI and machine learning for construction cost estimation?

1

2

3

4

5

1 AI and ML for cost estimation

2 Advantages of using AI and ML

3 Disadvantages of using AI and ML

4 How to use AI and ML effectively

5 Here’s what else to consider

Construction Site Management

给文章评分

感谢您的反馈

更多Construction Site Management相关文章

更多相关阅读内容