Artificial Intelligence and Data Analytics in Project Delivery

Welcome to the latest edition of the AI in Project Delivery Newsletter.

In this edition, we bring you the most recent and impactful developments across AI and how it can impact people working in the project delivery profession.

This newsletter offers a comprehensive view of how AI continues to reshape our world. We also shine a light on the increasing importance of AI skills, highlighting educational initiatives and industry transformations. Lets explore these exciting advancements and understand how they are setting the stage for a smarter, more efficient future.

Contents at a Glance

1. General AI News You Need to Know About: Discover the latest trends and breakthroughs in generative AI and how major companies are leveraging these technologies.

2. AI in Project Delivery: Learn about the transformative impact of AI tools in construction and architectural design, revolutionising efficiency and creativity.

3. AI Skills: Uncover the growing need for AI education and training, and the initiatives being taken to equip the workforce with essential AI competencies.

Gen AI News, You Need to Know About

GenAI Revolution: How SaaS Companies are Riding the Wave and Transforming the Industry

SaaS companies have swiftly embraced generative AI (GenAI) since the release of OpenAI's ChatGPT in November 2022. Over 270 SaaS companies launched GenAI products in early 2023, showing a surge in May and June. Key players like Salesforce and HubSpot have developed their own GenAI offerings, fuelled by the ease of using open-source frameworks and third-party language models. There's been a notable increase in funding for GenAI companies, reaching a staggering $18.3 billion in 2023.

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Revealed: The Staggering Amount of Data Used by Generative AI Tools

Generative AI tools data consumption is immense. GPT-4, for example, uses 1.8 trillion parameters and more than a petabyte of data. Image-based AI and speech synthesis tools also demand significant data, highlighting the growing efficiency of these AI technologies.

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Tola Capital Raises Massive ￡230M Fund to Invest in AI-Enabled Enterprise Software

Tola Capital's new ￡230 million fund focuses on AI-enabled enterprise software. This venture capital firm, having raised a total of ￡688 million, invests in areas like responsible AI and AI security, planning to fund 25 to 30 global companies.

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Revolutionising Performance Reviews: Wall Street Banks Turn to AI for Streamlined Efficiency

Wall Street banks are implementing AI to streamline processes like performance reviews. Deutsche Bank, for example, is using AI to reduce time spent on routine tasks. The adoption of AI technology is increasingly noted for its positive impact on productivity in the banking sector.

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Amazon Unveils Q: The Powerful AI Chatbot Set to Revolutionise Business Productivity

Amazon has introduced Q, an AI-powered chatbot designed to enhance business productivity. Q's capabilities include summarising documents, answering queries, and assisting with coding, signifying Amazon's commitment to AI innovation.

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Sam Altman's Turbulent Journey: Fired and Rehired by OpenAI

Sam Altman, CEO of OpenAI, discusses his recent firing and rehiring, shedding light on the company's commitment to artificial general intelligence and its operational resilience.

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OpenAI's GPT Store Faces Setback as Chaos Delays Launch until 2024

The launch of OpenAI's GPT Store has been postponed to early 2024 due to leadership turmoil and upcoming holidays, delaying the app store for AI.

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Canadian Chamber of Commerce Forms Powerhouse AI Council with Amazon and Google

The Canadian Chamber of Commerce has established the Future of AI Council, including major tech firms, to shape policies around the ethical use of AI in business.

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How OpenAI's ChatGPT Revolutionised the World in Just One Year

OpenAI's ChatGPT has remarkably impacted various industries in just one year, becoming a pivotal tool in AI technology development and integration.

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Google DeepMind Unleashes AI Tool to Create Over 700 Revolutionary Materials

Google DeepMind's AI tool, GNoME, has predicted structures for over 2.2 million new materials, significantly advancing the field of material discovery.

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AI in Project Delivery

Unlocking Success: Why Construction Firms Must Embrace a Software Mindset for Digital Transformation

Paul Devlin , COO of Causeway, emphasises the importance of a software mindset in construction for digital transformation, advocating for greater data standardisation and technology-driven efficiency.

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Imerso: The AI Construction Tool Revolutionising the AEC Landscape

Imerso, an AI tool in the AEC sector, enhances work productivity and reduces errors in construction projects through real-time monitoring and automation.

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Unlocking the Secrets of Building Design: Exploring Architecture's Power, AI Revolution, and Sustainable Trends

This comprehensive article delves into the intersection of AI and architectural design, covering topics from sustainable building practices to the role of technology in future design.

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Revolutionise Construction: How Technology Can Tackle ￡21bn Lost to Error

Cliff Smith FICE highlights the significant financial and environmental cost of errors in the construction industry and the role of technology in addressing these issues.

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AI Revolutionises Real Estate: Personalised Property Suggestions and Enhanced Customer Engagement

AI is transforming the real estate industry by automating tasks and providing personalised property suggestions. This technological integration could add significant value to the market.

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Unlocking the Power of AI: How Simple Interfaces Are Driving Construction Industry Growth

The construction industry is adopting AI to augment human efficiency, with simple interfaces and natural language processing being key to its widespread adoption.

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AI Skills

Supercharge Your Teaching: Discover How Educators Are Using ChatGPT in the Classroom

OpenAI's guide for educators outlines the use of ChatGPT in teaching, from creating inclusive lesson plans to fostering critical thinking skills among students.

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Amazon's 'AI Ready' Initiative Offers Free AI Skills Training to 2 Million People

Amazon's "AI Ready" initiative aims to provide free AI training to 2 million people by 2025, addressing the growing demand for AI-skilled talent in the workforce.

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