The ACEC 2022 Fall Conference gave engineering industry executives the unique opportunity to network with their peers, gain new insight from tailored education sessions and hear from inspirational keynote speakers.
The conference also featured an expanded exhibit hall, which allowed member firms to connect with service providers that could help them succeed in the competitive marketplace. The conference took place in Colorado Springs, CO, October 16–18, 2022.
On October 17, BST Global Director of AI & Analytics Hank Tran presented “How AI & Big Data Will Transform the AEC Industry” as part of the agenda’s Solution Center presentations. Hank’s session examined the unique opportunity AEC firms have to leverage artificial intelligence, machine learning and big data to foster the data-driven consultancy of the future, which is built on project intelligence™ and powered by predictive analytics.
To conclude his presentation, Hank discussed BST Global’s machine learning approach with phases focused on prediction, detection and optimization. This included sharing an example of machine learning at work on real client data around revenue leakage using Net Labor Multiplier as a leading indicator.
During the Q&A portion, Hank was joined by BST Global Chief Executive Officer Javier A. Baldor to answer attendees’ questions:
Hank shared, “There can be other use cases. Each machine learning model has different rates of frequency detection and data delivery.”
Javier added on, “The future, we believe, is moving away from just principally accounting for projects to becoming a data-driven consultancy, where you leverage the data already in your organization and model it and use AI to detect anomalies.”
Hank also shared some details around data enrichment, saying, “The data you have inside your organization can only answer so many questions. So, it’s time to reach out and incorporate third-party data to give you more market insights, like social economics and market trends. By incorporating that kind of data into your data lake and unifying it, you will gain broader and deeper insights into your firm’s data.”
BST Global appreciates the opportunity to participate in events like these, and looks forward to future engagements. Check out our Events page to find out where else we’ll be — we’d love to see you at some of our sessions!
