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The AI Blueprint: The Future of Construction and Technology

Your Comprehensive Guide to AI Trends, Market Growth, and Industry Insights in Construction and Beyond

Author

James Garner
February 06, 2024

This Week’s Wisdom: Tip of the Week

Tip of the Week

Enhancing ChatGPT Interactions with Direct GPT Invocations

ChatGPT now offers an advanced feature for its paid users: direct invocation of specialised GPTs in chats. By typing “@” followed by the chosen GPT's name, users can bring different GPTs into a conversation, each tailored for specific use cases. This integration allows seamless transition between GPTs, providing contextually aware assistance and diverse expertise, enhancing user experience and interaction efficiency. Perfect for those looking to leverage AI for more nuanced and specialised tasks.


Timeless Words: Quote of the Week

“I believe AI is going to change the world more than anything in the history of humanity. More than electricity.”

Kai-Fu Lee, AI Expert, Chairman & CEO of Sinovation Ventures, Author of 'AI Superpowers' and 'AI 2041'

Flux Feed: Curating the Latest Industry News

AI in Construction and Project Delivery

Artificial intelligence (AI) is revolutionising cost estimation by providing increased accuracy and the ability to make real-time adjustments, automate tasks, and offer customized estimations. The adoption of AI must be approached with a balanced perspective and consideration for its limitations and the importance of human judgment.

The global Building Information Modelling (BIM) market is projected to reach USD 17.59 billion by 2030, with a CAGR of 12.8% during the forecast period. The market is driven by the demand for efficient project management and cost control in construction and infrastructure sectors, as well as the increasing adoption of cloud-based BIM solutions and integration with digital twin technology.

The construction industry is the leading application segment, and North America is the largest market due to technological advancements and government initiatives. Prominent players in the market include Autodesk, Bentley Systems, Trimble, and Dassault Systèmes.

AI is being used to optimise resource use and project timelines in the construction industry, analyse building codes and regulations, automate repetitive tasks, improve safety, and optimize supply chains.

The global AI in construction market is projected to grow at a CAGR of 34.1% from 2024 to 2030, reaching a market size of USD 8.6 billion. Major players in the market include IBM, Microsoft, and Oracle.

The increasing demand for AI-based platforms and solutions, as well as the adoption of Industry 4.0 and smart city initiatives, are driving market growth.

Network Rail, the public body responsible for managing Britain's railway infrastructure, has implemented a data-first strategy to lay the groundwork for AI adoption. The strategy has led to significant gains in project performance, time savings, and cost reductions.

The Big Data in Construction market is experiencing significant growth as construction companies embrace big data solutions to efficiently manage and analyze data for insights, optimization, and decision-making.

The use of data analytics in the construction industry is becoming increasingly important, with applications such as predictive analytics, project planning, warranty analysis, and subcontractor performance analytics providing valuable insights and improving project outcomes. The value of global big data in the construction market is expected to reach $10.8 billion by 2025.

AI impact on work

A study from MIT suggests that AI may not automate as many human jobs as previously thought, challenging the predictions made by Goldman Sachs and OpenAI.

Bank of England Governor Andrew Bailey has stated that artificial intelligence (AI) will not be a "mass destroyer of jobs" and that human workers will learn to adapt and work alongside new technologies. The Bank's latest assessment of the UK economy found that businesses expect to see increased productivity through AI investments.

A report from the House of Lords Communications and Digital Committee also highlights the need to embrace the benefits of AI rather than focusing solely on its risks. The report warns that the UK risks missing out on the AI industry if it implements excessive red tape.

The State of Generative AI in the Enterprise report by Deloitte's AI Institute tracks trends, impacts, and challenges of generative AI throughout 2024, with a focus on governance, talent, and economic inequality. The report highlights the importance of training, applying, governing, and working with generative AI to determine its impact.

Tesla CEO Elon Musk compared the AI race to a high-stakes poker game, stating that companies need to spend billions of dollars on AI hardware just to stay competitive. In a post on X, Musk revealed that Tesla would spend over $500 million on Nvidia AI chips in 2024, but warned that several billion dollars per year are necessary to keep up with rivals.

Musk also highlighted the importance of Nvidia H100 GPUs, stating that they are vital for building and training large language models for chatbots like ChatGPT.

A former make-up artist claims she lost her job at a leading brand because a facial analysis AI tool marked her down for her body language during a video interview. The incident highlights concerns about the use of AI in recruitment and human resources.

Tech News

Apple is working on AI-powered Siri and Messages features for iOS 17.4, using OpenAI's ChatGPT API for internal testing and comparing its own AI models against it.

Apple is expected to introduce major AI features in iOS 18.

Google Bard has announced updates to its capabilities, including expanding Gemini Pro to more languages and countries, as well as introducing image generation to bring ideas to life.

Apple is intensifying its efforts in the AI field by acquiring AI startups and seeking AI talent. The company aims to run AI directly on its iPhones and potentially launch an AI-powered Siri.

Startup Figure AI is in talks to raise up to $500 million in a funding round led by Microsoft and OpenAI, according to sources. Microsoft is expected to invest around $95 million, while OpenAI may put in $5 million.

Casper Labs and IBM Consulting are partnering to develop a blockchain-based solution that improves transparency and auditability for generative AI systems, helping organizations manage training data effectively. The solution aims to protect sensitive data, provide version control, and support compliance processes.

Sam Altman, CEO of OpenAI, has been intentionally giving conflicting messages about the capabilities of GPT-5 and the impact of AGI, likely to manage the public's sentiment while balancing his business interests. The problem with hype is that it lacks nuance, and Altman's contradictory messaging leaves doubts about the truth and the actual capabilities of AI.

Elon Musk's company, Neuralink, is developing brain chip technology that allows paralyzed individuals to control their muscles or robotic arms through electrical signals from neurons. While still experimental, the technology holds potential for a wide range of applications beyond mobility assistance.

Apple's Vision Pro virtual reality headset has launched in the US, with customers who pre-ordered the product beginning to receive it. The headset, which starts at $3,500, is being embraced as an enterprise product and has already been adopted by companies including Walmart and Nike.

Apple CEO Tim Cook defended the headset's pricing, saying it was "priced at the right level considering the value of it.

AI in Other Industries

SynthGPT is a text-to-synth engine that allows users to create unique sounds for music production. It is currently in beta and open for feedback and ideas.

The University of Alberta has partnered with Amazon Web Services (AWS) to launch Artificial Intelligence Discovery Place, an initiative aimed at advancing AI research and making AI skills training more accessible. The collaboration will leverage AWS cloud computing technology and support researchers in developing AI solutions that address societal challenges.

Amazon has introduced an AI-powered shopping assistant called Rufus in its mobile app. Rufus is trained on Amazon's product catalogue and web information to help customers find products and make recommendations.

The tool will launch in beta to select US customers before expanding to more users.

AI Regulation and Security

Italy's data protection authority, the Garante, has informed OpenAI that its AI chatbot, ChatGPT, is suspected of violating European Union privacy laws. OpenAI has 30 days to respond to the allegations.

The European Union (EU) is close to adopting rules on artificial intelligence (AI) following the endorsement of a political deal by EU countries. The rules aim to set a global standard for the use of AI across various industries and address concerns about the spread of fake videos and images created by AI algorithms.

The next step is a vote by a key committee of EU lawmakers, with the legislation likely to enter into force before the summer. Tech lobbying group CCIA has expressed concerns about the potential impact on innovation and competition.

A House of Lords committee has called on UK ministers to protect content creators whose work is being used without their permission by tech companies to build AI products. The committee stated that tech firms are using copyrighted material to train language models for chatbots, earning vast financial rewards.

The committee recommended that the government determine whether current copyright laws provide adequate protection and update legislation if needed. Additionally, the committee urged the government to take action against the concentration of market power in the hands of a few large tech companies.

Great Scott: This Week's Big Thing in the Industry

The Electronic Trade Documents Act marks a significant shift in international trade and finance, allowing for the legal 'possession' of electronic trade documents. This paves the way for digital transformation in shipping and trade, promising enhanced efficiency, transparency, and security. The Act is expected to reduce paperwork, accelerate processing, and potentially unlock significant economic and environmental benefits. However, the transition to digital systems will require time and confidence-building, with paper and electronic documents co-existing during this period.

For a detailed overview, please visit Reed Smith's article.

Enchantment Under the AI: GPT of the Week

GPT of the Week: Ai PDF by myaidrive.com

Ai PDF, featured on myaidrive.com, is transforming digital document management. This innovative tool offers free, secure storage and interactive chat capabilities for all types of PDF files, including extra-large ones. It's already enhancing the workflow of over 500,000 professionals and researchers. The Pro version adds powerful features like extensive folder searches, OCR technology, and the ability to extract key details like titles and authors from documents.

For further details, visit thegpt .

Doc's Bulletin: What You Need to Know This Week

EY's newsletter covers key topics like AI's growing role in geopolitics, as highlighted in their Geopolitical Outlook 2024 and discussions at the World Economic Forum. An upcoming event delves into AI and cultural alignment, featuring EY's technology innovation leader, Catriona Campbell MBE. Additionally, the newsletter discusses the updated UK Corporate Governance Code and its implications, and provides insights into the current global macroeconomic environment and its challenges.

For more detailed information, visit the full EY newsletter.

The Almanac of AI: New Tools in the Tech Time Machine

New Tools in the Tech Time Machine"

Faltah.ai: Revolutionises task automation with AI, streamlining workflows and boosting productivity. Faltah.ai

Shortwave: Offers an AI-driven approach to efficient email management, enhancing organisation and saving time. Shortwave

Jellypod.ai: Enhances podcast production with AI, offering editing and sound quality improvements for creators. Jellypod.ai

Ideamap.ai: Transforms brainstorming with AI, providing creative idea generation and project planning support. Ideamap.ai

Artisan.co: Streamlines hiring processes with AI, ensuring better candidate matches and efficient recruitment. Artisan.co

Literary Time Machine: Book of the Week

This week's spotlight is on "The Future of the Professions: How Technology Will Transform the Work of Human Experts" by Richard Susskind and Daniel Susskind. The book delves into how emerging technologies will dramatically reshape the work of professionals, challenging traditional practices. It offers a thought-provoking exploration of the future of work, emphasizing the impact of AI, automation, and online systems on various professions. An insightful read for those interested in the intersection of technology and professional services.

For more details, visit the book's page on Amazon.

Podcasts: Must-Subscribe List

The Project Chatter Podcast: A must-listen for professionals in project management. This podcast delves into various aspects of project delivery, offering insights and discussions from industry experts. Its engaging and informative episodes make it an excellent resource for those looking to stay ahead in the field.

Listen to the latest episode on Apple Podcasts.

If you have more podcasts in mind for the list, feel free to share their links, and I'll include them in this section!

Meet Project Flux: About Us

At Project Flux, we're committed to pioneering the future of construction and project delivery through the lens of cutting-edge Artificial Intelligence insights. Our vision is to be at the forefront of integrating AI into the fabric of project delivery, transforming how projects are conceptualised, planned, and executed.

About James Garner James Garner, the Senior Director at Gleeds and Global Head of Data, Insights & Analytics, is the driving force behind Project Flux. With his extensive experience in the field and a track record recognised by Data IQ 100 in 2023, James combines his expertise in data and project delivery with a passion for AI in project delivery.

Our Mission Project Flux aims to not only inform and educate but also to inspire professionals in the construction industry to embrace the transformative potential of AI. We believe in the power of AI to revolutionise project delivery, making it more efficient, predictive, and adaptable to the dynamic demands of the modern world.

What We Offer Through our insightful newsletters, curated content on LinkedIn, and engaging discussions, Project Flux serves as a resource for professionals seeking to stay ahead in their field. We offer a blend of practical advice, thought leadership, and the latest developments in AI and construction technology.

Connect with us on LinkedIn and subscribe to our newsletter for regular updates. Together, let's shape the future of construction and project delivery!