Mordor Report Bullish on AI Growth in Construction

We’re halfway through 2024 and as the hyperventilating over AI has eased, more companies seem to be exploring possibilities. Leading the way are technology companies, of course, but various design and construction companies are setting to work on how they can harness AI. See “In the News” for stories featuring both tech and AEC firms. Then hear from some experts and new reports. Then catch up on a little AI background with primers on Deep Learning and Neural Networks.

As construction industry professionals continue to grapple with how or even whether to leverage artificial intelligence (AI) tools in their projects, a new market forecast expects the AI market to soar to $11.85 billion by 2029. “Artificial intelligence in the construction industry is experiencing a digital transformation,” says the new forecast from Mordor Intelligence.

Deep learning, a subset of artificial intelligence (AI) and machine learning (ML), is the foundation of generative AI. It involves training artificial neural networks to learn and make decisions from vast amounts of data. What does it do for construction? 

A neural network is a central component of artificial intelligence (AI) inspired by the structure and function of the human brain. It consists of interconnected nodes, or neurons, that work together to process and analyze data. These networks are capable of learning and making decisions by recognizing patterns in data, making them powerful tools for various AI applications.

The application of AI to analysis of site photos and digital scans is set to boost construction productivity. Speakers at a recent webinar urge companies to embrace AI. “Artificial intelligence (AI) is here and probably going to be around forever,” Austin Lay, reality capture technologies manager at Layton Construction, told attendees of the June 19 webinar, Why construction companies need to embrace digital transformation.

In the News: Leveling Up Design and Collaboration, Construction Document Mining, New AI Mapping Tool, Autodesk amping up its broad portfolio of solutions with generative AI, John Holland embraces generative AI, Turner uses AI in contracts drafting, Europe and Asia alternatively claimed a leaders in use AI in construction, and GHD and CEMEX both find application for AI in their respective businesses.

Welcome to Issue 11 of AI Construction News. Large firms are not waiting to invest in AI and are even using some of its applications. But a PWC study says construction lags others in AI adoption rates. Meanwhile, how about talking with AI as a new powerful way to leverage it? And David Dunham offers a review of the latest OpenAI release, ChatGPT-4o, plus a look at AI news stories across the web.

In May, OpenAI announced its latest LLM model, GPT-4o. The “o” in GPT-4o stands for omni, alluding to the model's capability to natively receive text, image, audio, and video inputs and deliver outputs in any one of the same formats. OpenAI’s demonstrations of these capabilities are downright impressive.

As venerable construction firm Barton Malow approaches its centennial in August, it's not just celebrating a milestone but embracing a new era of operation. Chuck Binkowski, the firm's COO, shares their vision of leveraging artificial intelligence (AI) in the coming century. He's not alone.

A recent report by PWC finds that the construction, manufacturing, and transport industries continue to lag behind other industries in artificial intelligence (AI) adoption rates, which is preventing them from reaping increased productivity and other benefits.

Lately, I’ve been talking to generative AI chatbots. No, this isn’t some AI girlfriend thing. What I’ve been talking to AI about is ideas. AI, specifically the ChatGPT iOS app, has become a virtual sounding board for my ideas about safety, writing, and life. This method of using AI has proven incredibly useful.

Recent AI news headlines and briefs relevant to companies in the construction industry: Should you rely on young staff for AI technical expertise? ChatGPT-4o is free--why subscribe? AGC and Mercator.ai Partner. AI can help with your heavy equipment maintenance. And a look at challenges of AI.