Using artificial intelligence systems to estimate the time and cost of a construction project

Abstract

The purpose of this article is to determine whether various artificial intelligence models can be used to estimate the time and cost of a construction project. Construction projects are complex and time-consuming, they include many factors that can affect the overall cost and duration of the project. Accurately estimating the time and cost of a construction project is critical to project management and planning. However, traditional methods of estimating these factors are often inefficient because of their dependence on historical data and limited scope. Artificial intelligence (AI) has emerged as a potential solution for improving construction project estimating. AI models can analyze a myriad of data, including historical project data, weather data, labor, and material costs, to provide more accurate predictions. Regression algorithms, in particular, have been shown to be effective in predicting project completion dates and costs based on various input factors. One advantage of using AI to evaluate construction projects is that it can account for complex and dynamic factors that traditional methods often overlook. For example, weather conditions can have a significant impact on construction projects, and AI models can incorporate this factor into their predictions. AI can also analyze data in real time, allowing for more timely adjustments to project plans and budgets. However, using AI to evaluate construction projects also presents some challenges. One potential challenge is the quality and reliability of the data used to train the models. AI models are only as good as the data they are trained on, so it is important to ensure that the data used is accurate and complete. In addition, AI models can be complex and require expertise to develop and maintain.