How to cut your costs by 20% with AI?

September 18, 2024
6 min
Coverage of our webinar "How to cut your costs by 20% with AI?"

Discover how Artificial Intelligence can reduce your costs, improve your productivity and propel your business to the next level!

Alexandre Champoux, CEO and Founder of Civalgo, recently gave a webinar on the subject. He explained how artificial intelligence (AI) can transform the construction industry by significantly reducing operational costs!

Presented as a revolutionary technology, the use of AI opens up a host of possibilities that go far beyond the simple automation of repetitive tasks (which, let's face it, is already incredible!). Contrary to popular belief, Artificial Intelligence is already a fully-fledged assistant, intelligent and capable of adapting to any situation.

How can AI help you in your day-to-day work?

AI can help your business! And here's how: it has the ability to analyze and learn from vast amounts of real-time and historical data. For the construction industry, this means it can :

  • Assimilate past performance information
  • Understand recurring patterns in your processes by analyzing the data it gathers
  • Identify the factors that influence the success or failure of a project

This ability to learn enables AI to become increasingly precise and efficient as you use it, adapting to the specificities of your business and each type of project.

Its deep understanding of data enables AI to make a number of predictions, helping to mitigate risk, improve efficiency and increase productivity :

  • Highly accurate task duration prediction
  • Anticipating risks
  • Identifying bottlenecks
  • Monitoring stock levels
  • Monitor market trends (material prices, wages, competition, etc.)

All this makes AI the perfect assistant for planning andresource allocation. These predictive capabilities enable project managers and business leaders to make informed decisions, based on hard data rather than mere intuition or personal experience.

You see, beyond automating processes, AI is capable of doing a lot for your construction business!

Artificial intelligence under construction: but does it work?

AI does not present itself as a solution to a specific problem, and that's its strength! It can be adapted and configured to meet a variety of industry-specific needs:

  • Cost estimates
  • Project delivery times
  • Supply chain optimization
  • Human resources management
  • Material resources management
  • Equipment management
  • Anomaly detection
  • Identifying safety risks on construction sites

This flexibility enables construction companies to integrate AI into different aspects of their building projects, according to their most pressing needs.

What's more, Artificial Intelligence is capable of intervening to solve highly complex problems involving numerous codependent variables, as is often the case in construction.

For example, it can optimize long-term project planning by simultaneously taking into account time and budget constraints, available resources and task sequencing. It can propose different alternative scenarios in the event of unforeseen circumstances, enabling you to anticipate and react quickly and efficiently to any change.

Reduce your costs with AI: 4 concrete examples.

1. Assisted estimating: AI can quickly analyze historical data and project plans to provide accurate estimates.

2. Optimized planning: With just a few clicks, AI can compile information and deliver an accurate schedule, doing 90% of the planning work.

3. Cost reduction: Civalgo's tests show that AI is almost 100 times faster than a human planner, reducing costs by 93-98% for certain stages of the job.

4. Substantial savings: On an average of 20 projects, savings can range from $3,400 to $87,000. A real game changer whenavoiding cost overruns in construction is a real challenge.

The shortcomings of Artificial Intelligence: points to watch out for!

Thanks to AI, you can considerably reduce your operational costs, but be careful not to go too fast! Although Artificial Intelligence offers many advantages for the construction industry, it's essential to adopt a cautious approach and prepare for its integration.

Preserving human know-how

AI should not be seen as a replacement for human expertise, but rather as a complementary tool. It's crucial to maintain and value the skills and experience of construction professionals. But that doesn't mean you can't take advantage of AI's capabilities to improve the efficiency and accuracy of your processes! By intelligently combining human expertise with the analytical and predictive capabilities of AI, your construction company can achieve a higher level of productivity and innovation.

The introduction of AI can have a major impact on the morale and motivation of your teams (feeling of being replaced by robots, fear of losing jobs or colleagues, etc.). Clear and transparent communication is essential to avoid misunderstandings and concerns. It's important to explain the role of AI as a virtual assistant, and don't hesitate to insist that it's there to make everyone's job easier, not to replace employees. This approach can help maintain a positive working environment and encourage the integration of this new technology into the company.

The question of liability in the event of an AI error

This is a crucial issue. It is necessary to clearly define who bears responsibility in the event of an accident or quality problem:

  • The construction worker who uses AI?
  • The construction company that integrated AI?
  • The AI supplier?

This clarification is essential to avoid potential conflicts and ensure responsible use of the technology.

Be careful not to go too fast!

Alexandre recommends a gradual approach to adopting AI in construction. Rather than implementing it abruptly, start by training your teams to use this new technology. Discuss the benefits and risks with them, make sure they understand how AI will positively impact their work, in short: make sure the transition goes smoothly!

Before you think about integrating AI, make sure your company is ready to take the plunge. Your digital transformation must be complete and fully functional!

Digital transformation: a crucial step!

Digital transformation is the first step for construction companies wishing to take full advantage of Artificial Intelligence. In his webinar, Alexandre points out that this transformation can be achieved through several systems, including :

  • Project management software
  • Estimating software (such as Solutions TPL)
  • Site planning and monitoring software
  • Mobile applications for data capture in the field
  • Etc.

It is highly recommended to be accompanied by experts in this adoption of digital technology to ensure the success of this transformation. Team training is absolutely crucial: you need to take the time to follow the training courses offered by the experts assisting you, while ensuring that your teams understand and adhere to them.

At Civalgo, we offer tailor-made training courses designed to be quick and easy to assimilate, as well as personalized support to guide construction companies through their digital transition and AI adoption. Of course, we're not the only ones! The important thing is to surround yourself with the right people.

Go digital with Civalgo?

Civalgo has positioned itself as a complete solution for the construction industry, particularly civil engineering. The company offers much more than just a management tool:

Civalgo is positioned as a complete solution for construction companies, particularly in the civil engineering sector. Much more than a simple management tool, Civalgo offers a unique platform to simplify all your operations:

  • Project management
  • Resource management
  • Document management
  • Communication
  • Site supervision
  • Time sheets
  • Payroll follow-up

And AI at your fingertips! We are currently working on integrating AI into our platform. New functionalities, capable of reducing planning costs by 93-98%, should be available within the next few months.

Good reasons to consider civalgo for a digital transformation

Things to remember!

Integrating AI into the construction industry promises significant cost reductions, improved productivity and process optimization. However, this transition requires a considered approach, including a solid digital database and adequate team training. With these elements in place, construction companies can expect to achieve savings of up to 20% on operational costs, while improving overall efficiency.

What's a rich text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in oneplace instead of havingto add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

bold elementsbeused with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content,add a richtext field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the richtext element using the "When inside of" nested selector system.

tyhrrthtrhrth

  • fefefefee
Subscribe to our newsletter!
Civalgo © 2023