Recently, PataBid’s founder and CTO, Melvin Newman, hosted a webinar event through the Alberta Machine Intelligence Institute (Amii) that discussed AI opportunities in construction. The webinar was co-hosted with Rick Dowell, President of Pontem Innovations. This event was one of many that happened between May 24-27, 2022 in conjunction with Amii’s AI Week. AI Week represents an opportunity for AI/ML professionals to build knowledge and connect with industry leaders from various sectors.
PataBid’s expertise in using cutting edge AI technology in construction applications distinguishes us as a leader in this new and innovative world of construction technology. A leader who is on a mission to provide our customers with a competitive edge in the marketplace through automating the entire construction bidding process. PataBid may be a relatively new company, but we have big plans on how we want to revolutionize the construction industry in the near future. Imagine if our AI gets so smart and accurate that we foray into predictive analytics for construction. The construction industry as we know it today has the potential to look quite different in 5-10 years time. It’s exciting to see how AI tech will continue to push the construction industry forward. You may or may not know that the construction industry generates massive amounts of difficult to analyze data, presenting a prime opportunity to improve and automate processes with ML/AI along with data analytics. In fact, according to the Associated General Contractors (AGC) of America, 95.5% of data captured on large construction projects goes unused. Imagine how many megabytes of untapped data that equates to! AI innovations that are designed to utilize these vast amounts of construction data are key to the future success of construction companies and present an opportunity to the ML/AI sector now.
Melvin and Rick’s webinar gives a high level overview of construction from the point of procurement through project closeout and data collection/analysis. Key examples of practical ML deployment are presented from the experience of both PataBid and Pontem, along with the natural areas to apply new ML/AI innovations to construction in the future.
We invite you to take time out of your day and watch Melvin and Rick’s guided discussion on AI implementation in the construction industry, present and future applications. The full webinar can be found on PataBid’s Youtube channel.
If you're ready to implement AI tech into your business, test out our tender search platform or estimating software today!
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