ACEC’s 2023 Annual Convention & Legislative Summit took place June 11–14 in Washington, D.C., where attendees received the political intelligence and insights necessary to make informed decisions about their strategic priorities in a changing economy.
As a conference partner, BST Global had a kiosk at the event and the honor of presenting a session titled “How AI + Big Data Will Transform the AEC Industry.” Presented by BST Global CEO Javier A. Baldor, this was one of the best-attended breakout sessions of the conference! In it, Javier focused on the continued evolution of artificial intelligence and machine learning and their inevitable impact on project-based teams. For AEC firms specifically, Javier noted: “AI can improve quality, reduce waste and lower costs across the industry. These technologies can also de-risk the design and build process of complex buildings by giving AEC firms much more confidence that project goals will be met and delivered on time.”
He then outlined three key strategies that firms should adopt as they consider future investments in these emerging technologies:
- Embrace breakthrough innovations like ChatGPT through education and action.
Powered by AI technology, ChatGPT is a natural language processing tool that can answer questions and help you with tasks such as composing emails, blogs and software code. Generative pre-trained transformers (GPTs) can enable advanced data analysis, relieve project teams of administrative and repetitive tasks, and drive more innovative design that could lower costs. - Become data-driven by defining your firm’s holistic big-data strategy.
Javier stressed the importance of employing the right data architecture. “We need to make our data smarter, and we can do that using AI,” he stated. He went on to explain that by creating machine learning and AI solutions that can analyze patterns and detect anomalies, project teams will have the benefit of predictive insights to drive better decision making and improve project outcomes. - Invest in AI and machine learning to gain predictive, project-based insights.
Javier noted that “the key to a smarter, transformed consultancy is empowering and democratizing your data.” He went on to discuss how strategically applying AI and machine learning to your project data, and inverting the data model to create tangible value across project teams rather than just feeding upward to senior leadership provides the opportunity to create a “Waze for projects” that will accurately predict business outcomes.
To conclude his presentation, Javier introduced attendees to BST Insights — BST Global’s solution that tracks 35+ digital signals within ERP project data and applies AI and machine learning to predict project outcomes with more than 95% accuracy. The smart, consumer-grade solution lets project managers easily understand which factors are influencing their projects, and course-correct to positively impact profitability.
To learn more about BST Global’s innovative suite of AI-powered project intelligence™ solutions, watch the recording of our “Journey to Project Intelligence™ 2023” event!
BST Global appreciates the opportunity to participate in events like the ACEC Annual Convention & Legislative Summit, 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!
