Table of Contents

• This Week's BIG thing

• What's new: Projects

• What's new: Tech

• What's new: Productivity

• Events

• Project Flux Podcast

• About Project Flux

This Week’s BIG thing

EU AI Act is live

 On 1 August 2024, the European Union's Artificial Intelligence Act (EU AI Act) officially came into force, marking the world's first comprehensive regulation for artificial intelligence. The Act applies a risk-based framework to AI systems, categorising them into minimal, limited, high, and unacceptable risk levels. Minimal-risk systems like spam filters face no new obligations, while high-risk systems, such as those used in medical diagnostics or recruitment, must adhere to stringent requirements including risk mitigation, quality data sets, and human oversight. Unacceptable risk systems, such as those used for social scoring, are banned entirely.

The Act also covers general-purpose AI models, such as those used in platforms like ChatGPT, imposing additional compliance requirements. All entities, including those outside the EU, that provide AI systems used within the EU, are subject to these regulations. Non-compliance can result in fines of up to 7% of annual global turnover or €35 million, whichever is higher. Full compliance with high-risk AI system provisions will be required by August 2026​ (TNW | The heart of tech)​​ (JD Supra)​​ (European Commission)​​ (Passle)​.

 Why You Should Care

The relevance of the EU AI Act to the project delivery world, particularly in construction, energy, and infrastructure, cannot be overstated. As AI becomes increasingly integrated into project management, design, and operational processes, compliance with this legislation is crucial. High-risk AI systems, which might include project management tools that utilise AI for decision-making or predictive analytics, will need to adhere to rigorous standards to ensure data quality, transparency, and human oversight.

For project managers and stakeholders, understanding and navigating these regulations will be essential to avoid substantial fines and ensure ethical AI deployment. This Act also sets a global benchmark for AI governance, likely influencing regulations in other regions. Thus, staying ahead of these requirements can provide a competitive edge and promote trust with clients and partners.

Moreover, as the Act aims to balance innovation with safety, it encourages the development of robust, reliable AI tools that can enhance project efficiency and outcomes while safeguarding against risks. In essence, the EU AI Act fosters a more secure and trustworthy AI ecosystem, benefitting all aspects of project delivery from planning to execution​(European Commission)​​ (Passle)​.

What’s new: Projects

Summary of AI Expert Leading UK AI Action Plan

The UK Government has appointed Matt Clifford, Chair of the Advanced Research and Invention Agency (ARIA), to lead an Action Plan aimed at maximising the benefits of artificial intelligence (AI) for the country. Science Secretary Peter Kyle has tasked Clifford with exploring opportunities to enhance AI adoption across various sectors, boost economic growth, and improve public services. The plan will also consider infrastructure, talent, and data requirements to support AI deployment. An AI Opportunities Unit will be established within the Department for Science, Innovation and Technology to implement the plan's recommendations​ (GOV.UK)​.

 Why You Should Care

For professionals in project delivery, particularly within construction, energy, and infrastructure, the UK AI Action Plan holds significant implications. By driving AI adoption, the plan aims to enhance productivity, streamline operations, and foster innovation across these sectors. AI technologies can optimise project management, improve safety standards, and facilitate better decision-making through predictive analytics and automated processes.

 Understanding and engaging with the AI Action Plan will be crucial for industry stakeholders to leverage new opportunities, stay competitive, and comply with emerging regulations. Moreover, the focus on building robust AI infrastructure and talent development aligns with the broader goals of improving efficiency and achieving sustainable growth in project delivery​ (GOV.UK)​​

💙 Other project news we’re loving

• UK Shelves £1.3bn AI Plans -The UK Government has shelved £1.3 billion in funding for ultra-fast supercomputer and AI projects, aiming to address a projected £22 billion funding gap​ (Sky News)​.

• India and China Leading in AI Adoption - India and China are outpacing the UK, Japan, and the Netherlands in AI adoption, significantly advancing in integrating AI technologies across various sectors. This rapid progress highlights a growing competitive edge in global AI innovation and deployment​ (Sky News)​.

•  Morgan Stanley AI Note Taker - Morgan Stanley has launched "AI @ Morgan Stanley Debrief," an AI-powered meeting note taker designed to enhance productivity. This tool aims to streamline note-taking during meetings, allowing employees to focus on discussions rather than documentation​ (Sky News)​.

What’s new: Tech

Summary of the ChatGPT Voice Feature Roll-Out

OpenAI has begun rolling out an advanced voice mode for a select group of ChatGPT Plus users. This feature, currently in its alpha stage, uses a new text-to-speech model capable of generating realistic human-like audio from text and a few seconds of sample speech. The voice capability has been developed in collaboration with professional voice actors and uses OpenAI's Whisper, an open-source speech recognition system, to transcribe spoken words into text​ (TechStory)​​(OpenAI)​.

 The initial roll-out includes four preset voices, though more may be added later. This new feature allows users to interact with ChatGPT through real-time voice conversations, enhancing the overall user experience by making interactions more natural and engaging. Users can interrupt the AI while it is speaking, adding a layer of realism that was previously hard to achieve with AI assistants. OpenAI has involved over 100 external testers to ensure the system’s security and reliability before a broader release​ (TechStory)​​ (OpenAI)​.

 Why You Should Care

For professionals in project delivery, the introduction of ChatGPT's voice mode represents a significant advancement. This feature can streamline communication and collaboration by enabling more intuitive and efficient interactions with AI tools. Project managers and team members can now verbally communicate with AI systems, making it easier to retrieve information, generate reports, and manage tasks hands-free.

Moreover, the voice capability can improve accessibility for team members who may find typing cumbersome or are on the move. It can also facilitate quicker decision-making processes by allowing real-time, dynamic conversations with AI, which can help in problem-solving and brainstorming sessions.

 However, it’s important to be mindful of the potential risks associated with voice technology, such as misuse for generating harmful content or impersonating individuals. OpenAI’s  approach to testing and improving safety measures is reassuring, but continuous vigilance and ethical considerations will be essential as these technologies become more integrated into professional workflows​ (TechStory)​​ (OpenAI)​.

💙 Other Tech news we’re loving

• Meta's AI Ambitions - Meta's Mark Zuckerberg announced that training Llama 4 will need 10 times more computing power than Llama 3. Simultaneously, OpenAI might incur $5 billion in losses over the next year due to significant AI investments​ (TechStory)​​(OpenAI)​.

• Apple AI Delayed -Apple has delayed the launch of its artificial intelligence model, Apple Intelligence. Additionally, OpenAI might face $5 billion in losses over the next year due to its extensive AI development efforts​ (TechStory)​​ (OpenAI)​ . 

• OpenAI Early Access - OpenAI pledges to give the U.S. AI Safety Institute early access to its next model, aiming to ensure advanced safety measures before a broader release​ (TechStory)​​ (OpenAI)​.

• Grok Trained on X - Elon Musk's Grok AI has been secretly trained using data from the X platform, raising privacy and ethical concerns​(TechStory)​​ (OpenAI)​.

•  Nvidia Humanoid Robots - Nvidia is accelerating the development of humanoid robots worldwide, leveraging its advanced AI and robotics technology to enhance capabilities and efficiency in various sectors​ (TechStory)​​ (OpenAI)​.

• IBM Job Cuts -IBM has announced significant job cuts as part of its ongoing shift towards artificial intelligence and emerging technologies. This move, affecting primarily the marketing and communications divisions, aims to achieve $3 billion in annual savings by the end of 2024. The layoffs reflect a broader trend in the tech industry, with major companies like Alphabet, Amazon, and Unity also announcing job reductions​ (Enterprise Technology News and Analysis)​​(InvestorPlace)​​ (Business Insider)​.
  

What’s new: Productivity

Digital Maturity in Construction: Where Does Your Company Stand?

As construction professionals, the industry’s rapid technological evolution is undeniable. But where does your company stand on the Digital Maturity scale?

 A recent poll by Paul Hemming of C-Link and the Own the Build Podcast reveals insightful trends:

• Level 1 (42%): Companies are primarily using basic tools like Word, Excel, and email.

• Level 2 (21%): Partial adoption of digital tools, with some standardisation.

• Level 3 (28%): Progress with advanced tools and significant automation.

• Level 4 (9%): Fully integrated workflows, AI, big data, and IoT utilisation.

Why You Should Care

Understanding your company's digital maturity is crucial for staying competitive. Higher digital integration can lead to enhanced efficiency, reduced manual workloads, and better project outcomes. By advancing your digital maturity, you can leverage technologies like AI, IoT, and big data to streamline operations, improve decision-making, and drive innovation. This not only boosts productivity but also positions your company as a leader in the evolving construction landscape. Assess where you stand and plan your next steps to achieve greater digital integration and operational excellence.

💙 Other productivity news we’re loving

• Business Leaders Not Ready for AI Revolution - Many business leaders are still unprepared for the AI revolution, according to Bernard Marr. Despite AI's potential to transform industries, a significant gap exists in understanding and readiness. Leaders must educate themselves and their teams, invest in AI technologies, and develop strategies to integrate AI effectively to stay competitive and drive innovation​ (Sky News)​.

• New Text-to-Image AI Tool - Former Stable Diffusion developers at Black Forest Labs have launched a new text-to-image AI tool, enhancing image generation from textual descriptions. This tool offers advanced capabilities for creative professionals and businesses to streamline content creation. For more details, visit Black Forest Labs. 

• Perplexity’s Advertising Program - Perplexity has introduced the Perplexity Publishers Program, enabling publishers to monetise their content through integrated advertising. This initiative aims to provide a seamless experience for users while supporting publishers financially. -For more information, visit Perplexity Publishers Program.

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Events

BDO Webinar on Navigating AI in Business

Join BDO’s upcoming webinar titled "Navigating AI in Business: Opportunities and Challenges" on 14th September 2024, from 10:00 AM to 11:00 AM BST. This insightful event will delve into the transformative impact of AI on various industries, focusing on practical applications, regulatory considerations, and future trends.

 Expert speakers will share valuable insights and strategies to leverage AI for business growth and innovation. Attendees will have the opportunity to engage in a Q&A session to address their specific concerns and queries.

Register for the event here.

Project Flux Podcast

Watch our latest podcast episodes 👇

Weekly Pulse Podcast: AI in Projects and Productivity

In this episode, James Garner and Martin Paver discuss the latest developments in AI for project delivery and productivity. They explore OpenAI's Search GPT, which integrates search with a chat interface, offering source citations and multimedia enrichment. The hosts also address the substantial AI investments by companies like Microsoft and Meta, the skepticism surrounding AI's ROI, and the critical need for leadership and experimentation in the construction industry to successfully adopt AI. Continuous learning and staying informed are emphasised as essential for professionals to keep pace with technological advancements.

Spotlight with Martin Paver

Martin Paver, CEO of Projecting Success, discusses the significance of data-driven project delivery and its challenges. He highlights the need for collaboration and advanced data analytics to overcome the limitations of traditional methods. Martin shares his career journey and the motivation behind founding Projecting Success. He emphasises the role of government and the private sector in adopting data-driven practices. Martin introduces the Project Data Analytics Coalition, which aims to create an open-source ecosystem for project professionals.

For more information, visit Projecting Success and the Project Data Analytics Coalition.

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.

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, podcasts and 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.

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