AI set to revolutionize construction business

Early adopters predict that the implementation of artificial intelligence in the $10 trillion construction business would significantly improve productivity and reduce costs. The building materials and supply chain software provider DigiBuild has been utilizing OpenAI's ChatGPT to strengthen its program for months and will present the results on Wednesday night in Miami. Before the launch, though, DigiBuild CEO Robert Salvador granted FOX Business an exclusive first look at how the potent AI tool has increased productivity and reduced costs for the company's clients, and he claims the technology will be "market changing." [caption id="attachment_165951" align="aligncenter" width="2048"] Image : Digibuild[/caption] The pandemic's high material costs and supply chain issues are still plaguing the building sector, and DigiBuild's software seeks to assist developers and contractors save costs and tighten their timetables. AI assistance has significantly advanced this goal. According to the company's understanding, DigiBuild is the first to put ChatGPT into the supply chain for the construction industry, and the company has some inside assistance. The construction software company is backed by significant investors, such as Y Combinator, which taught OpenAI CEO Sam Altman, and it has a private Slack channel with OpenAI where specialists may collaborate on projects. Since its founding five years ago, DigiBuild has simplified the process of locating materials from vendors and setting up schedules. With the use of language learning models, tasks that formerly required a team of humans hundreds of labor hours utilizing Excel spreadsheets, notebooks, and manual phone calls may now be completed in a matter of seconds. [caption id="attachment_150389" align="aligncenter" width="1200"] Image credit : Wikipedia[/caption] "ChatGPT has taken us to the next level," Salvador said. "Supersonic." "Instead of spending multiple hours probably getting a hold of maybe five or six suppliers, ChatGPT can find 100 of them and even automate outreach and begin communications with those 100 suppliers and say, 'Hey, we're DigiBuild. We need to find this type of door, can you provide a quote and send it back here?'" he said. "We can talk to 100 suppliers in one minute versus maybe a handful in a couple hours." The CEO gave a real-world example of a project where the new technology resulted in a literal cutting in half of material prices. When VCC Construction, one of DigiBuild's clients, needed closet shelving for a project in Virginia, the builder could only obtain one bid for $150,000. There was also a restricted amount of inventory. DigiBuild was able to locate a source in the Midwest with ease who offered the shelves and delivered it in a few weeks for $70,000. Also read : Meta to Use AI to Revolutionize Ad Creation Salvador advises imagining those outcomes for a $500 million project or for the entire sector. He anticipates that AI technology will be widely used. "Before companies like us, the construction industry was still early in its digital transformation – they were late to the party," he told FOX Business. But now, "It's very much going all in on that, finally."