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The Future of AI is Now: Your Weekly Dive into Generative Technology & Industry News
Explore AI's impact on construction & more - plus must-know updates, tools & podcasts
James Garner
February 12, 2024
Today's Menu of Must-Read Content
This Week’s Wisdom: Tip of the Week
Tip of the Week
If you're new to ChatGPT and figuring out how to craft effective prompts, here's a straightforward guide. Head over to the ChatGPT Prompt Builder at https://mitenmit.github.io/gpt/ to shape your ideas into sharp prompts.
Just fill in the details, grab the generated prompt, and pop it into ChatGPT. Ready to dive deeper? This guide's got you covered for refining those prompt-building skills further.
Timeless Words: Quote of the Week
"Generative AI invites a holistic re-examination of the very nature of work and the workforce and societal structures that support it, urging a balance between technological progress and societal needs." - Oliver Wyman Forum.
For a comprehensive analysis on the subject, visit the full article here.
Flux Feed: Curating the Latest Industry News
AI in Construction and Project Delivery
AI is revolutionising the Indian real estate industry by enhancing processes, redefining practices and improving customer experiences. It provides property recommendations, interactive property previews, and facilitates client-agent relationships.
AI also aids in reliable transactions, legal compliance, and predicting market trends.
The global market for AI in project management is projected to reach $5.09 billion by 2027, with cloud operations and technological advancements driving growth.
Key players are focusing on expanding their AI capabilities to meet the increasing demand for intelligent project management solutions. North America leads the market, while the Asia-Pacific region is expected to experience the fastest growth.
This article explores the evolution of construction technology from traditional tools to emerging technologies such as robotics, 3D printing, and artificial intelligence. It discusses how these advancements are reshaping the construction industry and improving efficiency, safety, and sustainability.
The article also highlights future advancements such as prefabrication, materials science, and virtual/augmented reality.
Artificial intelligence (AI) has the potential to provide significant value to the real estate industry, according to a report by JLL. AI and generative AI are predicted to have the greatest impact on real estate over the next three years, with $4 billion of funding raised for AI-enabled proptech in 2022.
However, less than 40% of organisations currently view their AI programs as successful.
Data, AI, and machine learning are now key components of real estate investing. These technologies provide investors with access to vast amounts of property and market data, allowing them to make data-driven decisions and improve profitability.
The rise of PropTech has also expanded the opportunities for real estate investors, providing digital solutions for property research, buying and selling, and property management. Additionally, AI and machine learning can help investors identify undervalued assets and make more informed investment decisions.
These technologies have leveled the playing field in real estate investing, allowing even small investors to access comprehensive data and analytics.
Autodesk has released new add-ons for Revit and Inventor, called Informed Design, that automate the process of placing manufactured products into building information models.
The use of AI and automation is bridging the gap between BIM plans and on-site construction in the building industry, improving efficiency and reducing cost
Steel fabrication and construction services company AJ Engineering has implemented IoT technology to help manage its carbon footprint and improve efficiency. The technology has enabled the company to identify areas where energy is being used and take steps to reduce consumption in certain processes or buildings.
The implementation has already led to significant energy savings and cost reductions, and AJ Engineering hopes to inspire other SMEs to adopt similar IoT technologies.
AI impact on work
Generative AI has the potential to bring unparalleled productivity gains and creativity to workplaces, but there are also concerns about job loss and the impact on workers' sense of purpose. The mass adoption of generative AI does not automatically guarantee mass productivity, as historical innovations have shown.
Business and government leaders need to balance progress with societal needs and consider the implications for work and the workforce. It is important to integrate human-like thinking, skills, and experience into the transformation led by generative AI for successful outcomes.
Artificial intelligence (A.I.) has the potential to manipulate and fabricate historical content, raising concerns about the accuracy and reliability of the past. If historical content is not properly watermarked, it becomes easier to question its authenticity and use it to support false claims.
This has historical precedent, as past figures and events have been manipulated to serve political and economic agendas.
The article discusses the state of AI investment in Q2, noting a 38% decline in funding but highlighting growth in AI funding excluding a major deal. It mentions the creation of 7 AI unicorns and a growing number of AI M&A exits.
Additionally, it highlights the increasing value of AI deals and provides information on specific AI startups. The article promotes CB Insights' platform for tracking AI trends and making informed investment strategies.
OpenAI is exploring ways to make AI more "democratic" by seeking input from the public. The company has awarded grants to 10 teams to develop processes for public input on AI system behavior.
While the findings are not currently binding, OpenAI is considering new systems to collect public input and encode it into its models. However, questions remain about the extent to which public input will be advisory or binding.
Tech News
Microsoft is rolling out new features to Windows Insiders for Windows 11, including AI capabilities in Notepad and additional options in Snipping Tool. The updates allow for easier annotation and the use of Copilot in Notepad.
Microsoft CEO Satya Nadella discusses the promises and risks of artificial intelligence (A.I.) and whether it will displace workers in an exclusive interview with Lester Holt.
OpenAI is developing agent software that can automate tasks by operating a customer's device, potentially revolutionizing the way people interact with technology.
The article discusses the current state of artificial general intelligence (AGI) and the limitations of existing large language models (LLMs) in achieving true AGI. It highlights the need for models to be able to create a comprehensive model of the world and engage in causal deduction to progress towards AGI.
The article also provides definitions of narrow AI and AGI.
Mark Zuckerberg outlined Meta's strategy to surpass Google and Microsoft in AI, emphasizing the advantage of its vast user data. The company's capital expenditures could increase to $30-37 billion this year.
The Biden administration has appointed Elizabeth Kelly, a top White House aide, as the director of the newly established AI Safety Institute. The institute will develop safety standards for AI developers.
Singapore-based startup Brilliant Labs has unveiled its new product, Frame, a pair of lightweight AR glasses powered by an AI assistant called Noa. The glasses have received funding from John Hanke, CEO of Niantic, the creator of Pokémon GO.
Noa is capable of voice commands, visual processing, image generation, and translation. Brilliant Labs aims to embed lightweight machine-learning models directly into the glasses in the future.
Frame is available for pre-order starting today and will retail at $349. The glasses will begin shipping in April.
AI in Other Industries
This article discusses the potential benefits and challenges of utilizing AI in procurement. It highlights the efficiency and productivity improvements that AI can bring but also raises concerns about accuracy, ethics, and the need for proper data management.
The article suggests that AI should be used as a tool to augment human intelligence rather than replace it.
The author discusses their views on the current state of value accumulation in artificial intelligence (AI) and how it is expected to evolve in the next few years. They believe that infrastructure will play a larger role in capturing value in the AI industry, while AI-enhanced products have the potential to be highly valuable.
They suggest that investing in companies that can effectively adopt AI capabilities would be a good investment opportunity.
IKEA has launched a new AI-powered digital design experience, called IKEA Kreativ, that allows customers to design and visualize their own living spaces using lifelike 3D showrooms and a scene scanner feature. The experience aims to inspire creativity and help customers create functional and attractive spaces in a simple and time-saving manner.
The technology behind IKEA Kreativ was developed by Geomagical Labs, which IKEA's parent company Ingka Group acquired in 2020. The experience is currently available for iOS and laptop users in the US and will be rolled out to Android users and other countries in the future.
Microsoft CEO Satya Nadella has emphasized the opportunity for India to accelerate inclusive growth and development through AI. Microsoft will provide 2 million people in India with AI skilling opportunities by 2025.
AI Regulation and Security
The UK government's recent AI Safety Summit focused on biosecurity and cybersecurity as existential threats posed by AI. However, the article argues that the lack of AI adoption and productivity growth in the UK is an overlooked existential risk.
The government has taken some steps to address this, but further actions are needed, such as the appointment of a national Head for AI adoption. The article also emphasizes the importance of AI literacy, inclusion, and a broader definition of AI value beyond start-ups and tech companies.
The European Union's AI Act, a risk-based plan for regulating artificial intelligence, has passed its final hurdle with Member State representatives voting to confirm the final text of the draft law. The act sets out prohibited uses of AI, governance rules for high-risk applications, and transparency requirements for certain AI chatbots.
The law is expected to be adopted in the coming months.
Big Tech executives have criticized Canada's proposed AI law, claiming that it is too vague and does not adequately differentiate between high- and low-risk AI systems. They argue that the law as written would be costly and could stifle innovation.
The House of Lords Communications and Digital Committee has urged the UK government to support copyright holders and scrutinize the use of large language models (LLMs) in order to avoid exploitation and ensure transparency. The report also questioned the government's transparency regarding the appointment of experts in AI and recommended measures to address data usage without permission or compensation.
The report highlighted the potential disruption to employment and called for action to address digital skills gaps.
Great Scott: This Week's Big Thing in the Industry
This Week's Big Thing in the Industry
This article discusses the potential benefits and challenges of implementing artificial intelligence in the built environment in London. It explores how AI can elevate management practices and improve efficiency in the industry.
Alex Coles, head of data insights and knowledge management at Sisk, highlights the role of data in addressing challenges in the construction industry, such as attracting new talent and achieving net zero goals. Coles emphasizes the importance of effective knowledge management and the integration of artificial intelligence (AI) to unlock the potential of data.
He also discusses the need for data to ensure certainty in project delivery and enhance collaboration within the industry.
Here is the latest Linked In Newsletter
GPT of the Week
"Quantity Surveyor Pro by OdeebAI is a specialised tool designed for professionals in quantity surveying. It enables users to share and process PDFs, pictures, and detailed project information, streamlining project management and cost estimation tasks."
What You Need to Know This Week
In a recent update from Sundar Pichai, CEO of Google and Alphabet, Google has taken significant strides in AI development, marking the beginning of the Gemini era. The introduction of Gemini Advanced and its predecessor Bard signifies a leap in AI capabilities, offering enhanced reasoning, instruction following, coding, and creative collaboration in over 40 languages. This innovation extends to Google's Cloud and Workspace services, rapidly growing businesses like Google One, which is nearing 100 million subscribers. Google is set to further integrate Gemini models into everyday products and services, improving productivity and creativity for both individual and business users.
The Almanac of AI: New Tools in the Tech Time Machine
Before Sunset AI - A cutting-edge platform designed to enhance decision-making and productivity through advanced AI integration. It offers innovative solutions for businesses seeking to leverage AI for improved efficiency and outcomes. Explore here.
Grammarly AI - Utilizes artificial intelligence to elevate writing quality across grammar, clarity, and engagement. Ideal for professionals aiming to ensure their communications are impactful and error-free. Discover more.
Evolve Lab's Glyph & Co-Pilot in Revit - Revolutionizes construction documentation by automating it within Revit, thanks to the AI GPT assistant, Glyph. This tool streamlines the documentation process, enhancing accuracy and efficiency in project delivery. Learn about it.
Book of the Week
This week's highlight is "How Big Things Get Done" by Bent Flyvbjerg, a compelling exploration into the mechanics of achieving monumental tasks and projects. Flyvbjerg demystifies the processes behind some of the world's most significant achievements, offering readers a unique blend of insights, strategies, and practical advice. Drawing from extensive research and real-world examples, the book delves into the importance of effective planning, the power of resilience, and the necessity of visionary leadership. Whether you're looking to spearhead a major project or interested in the art of making impactful changes, this book provides invaluable lessons on turning ambitious visions into reality. A must-read for leaders, project managers, and anyone passionate about making a significant impact in their field.
Podcasts: Must-Subscribe List
Inside OpenAI with Logan Kilpatrick - Dive deep into the workings of OpenAI in this insightful episode from Lenny's Newsletter. Logan Kilpatrick sheds light on the organization's mission, its groundbreaking AI research, and the implications for the future of technology. This conversation offers a rare glimpse into the minds driving one of the most influential AI research entities today. A must-listen for anyone curious about the cutting edge of artificial intelligence and its impact on society. Listen on Lenny's Newsletter.
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!