Reduce Construction Risk With Artificial Intelligence and Machine Learning

The impact of technology on the construction sector cannot be overstated. Bidding/estimating, contract and insurance review and compliance, scheduling, safety, and general project and document management are just a few of the areas where the sector has experienced considerable breakthroughs. Smartphones, tablets, and wearable technology have made this technology available to workers working in the field and enabled data to be collected on-site, further boosting the value provided.

The construction industry is beginning to recognize ongoing developments in artificial intelligence and machine learning as significant tools for reducing and addressing construction hazards that may arise before, during, or after a project is constructed. Gaining access to the technology, knowing where to find it, and knowing how to use it are essential to the initial steps in minimizing risk.

What do the terms "Artificial Intelligence" and "Machine Learning" mean, and are they similar? The concept of using machines (like computers) to carry out tasks that would typically require human evaluation and operation is known as artificial intelligence, or simply "AI." AI will occasionally utilize "Machine Learning" to automatically adapt to the processing and evaluation of earlier data without explicit updates by human reviewers and programmers.

The application of this technology to reduce risk in the construction industry was greatly expanded by the advent of Natural Language Data Extraction, which allows AI platforms to identify and extract data from unstructured text in any format or order. Algorithms and platforms now exist to allow users to automatically identify, extract and categorize natural language from various sources such as contract documents, insurance policies, daily reports, change orders, and RFI responses.