A 60 Day Gameplan to Adopt AI/ML & Realize ROI in Construction projects
As we all understand, construction projects are the embodiment of complexities – multiple stakeholders, strict timelines, countless sub-tasks and interdependencies of these tasks are just a few to mention. ConstructionTech companies (like ourselves) have been working hard to improve efficiencies of processes and operations to ensure cost benefits and timely completion of projects.
However, for Real Estate companies, PMCs and financiers (like banks), an unplanned and ad-hoc approach to technology adoption will create more problems than they solve. The implications of a mistake are multi-fold, causing confusion among stakeholders, friction in operations, delayed project completion, rework and increased costs.
In this regard, an AI/ML system can offer a significant advantage. They can think and execute like a human, and continually improve their interpretation and decision-making algorithms.
An effective game plan will help in devising a personalised plan to ideate, execute and continually reap the benefits of AI/ML applications in the construction sector. Here’s a concise presentation of the gameplan.
In addition to the gameplan, you must also have a milestone-driven timeline for the endeavour. While each project and use case might demand different resources and time, this next Gantt chart will serve as a good reference point. These numbers and estimations have been derived from our experience of working with dozens of clients, prospects, vendors and partners.
I hope this could add value to your understanding of the technology and strategy to adopt it. I wish you all the very best in your technology-adoption plan.
In case you need our help in conducting a POC and/or evaluating the cost-benefits of the project, feel free to speak with our Product & Pricing Expert.