How Artificial Intelligence Plays an important role in Infrastructure Industry

Navigating Infrastructure Challenges: Insights from Ram Mahidhara, QRD?

Our Future Forward Podcast: Tech, Business, and Innovation with Suresh Kumar, hosted a discussion on “Navigating Infrastructure Challenges”, delving into the intricate world of infrastructure with industry veteran Ram Mahidhara, QRD? With over three decades of experience, Mahidhara provides invaluable insights into the innovations and challenges in infrastructure.

Ram Mahidhara, QRD? has extensive career experience, having held significant roles in major organizations across the United States. Over 20 years, he worked in the World Bank Group, primarily with the International Finance Corporation (IFC). He has also contributed to various corporate projects in Latin America, Africa, and Asia. In 2019, he left IFC as one of the chief investment officers, aiming to explore new opportunities.

Understanding the Nature of Infrastructure

Ram Mahidhara, QRD? describes infrastructure as the backbone of an economy, encompassing goods and services such as power, water, transport, and telecom. These sectors are crucial for economic growth and are typically public, serving the broader community. He distinguishes between public infrastructure, which benefits society at large, and private infrastructure, which serves specific entities.

Risks Involved in Infrastructure Projects

Infrastructure projects typically have high costs and long payback periods, often spanning 5 to 15 years or more as their scope is large. This vast timeliness involves various risks, especially for the private sector. In public infrastructure, the government is spending the money, and the time frame can be extended accordingly. Whereas, in the private sector, lenders who have lent money expect timely returns, causing risks when there is an extended timeline. In addition, there are also possibilities of political and regulatory risks due to potential changes in government policies for the project.

Due to these risks, a lot of the private sector is not showing interest in developing countries. Mahidhara highlights that these risks can be mitigated by taking insurance ahead of time and having strategic planning. He notes that the IFC plays a crucial role in managing risks and providing comfort to private lenders and investors.

This episode with Ram Mahidhara, QRD? offers insights into the complexities and challenges of infrastructure development. He underlines three major points in the discussion: high costs, long payback periods, and how you allocate the risks. By sharing his experience, Ram Mahidhara, QRD? highlights the role of public-private partnerships and innovative approaches to risk management in infrastructure projects.

Conclusion: Every construction project inherently involves various types of risks, including those related to quality, safety, time, and cost. As the scale of the project increases, so do these risks, largely due to the involvement of multiple subcontractors handling different trades simultaneously on the job site. Today, general contractors leverage AI and machine learning solutions to monitor and prioritize these risks, enabling project teams to concentrate their limited time and resources on the most critical issues. AI technology automatically assigns priority levels to potential problems, and subcontractors are evaluated based on a risk score. This allows construction managers to closely collaborate with high-risk teams to effectively mitigate potential risks. Avenir Digital Inc #AI #ML #Infrastructure Industry#GenaI.

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