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AI’s Recent Impact on Construction

For the past several years, we’ve heard how AI is being incorporated into various industries: fast-food restaurants installing self-service machines for guests to order food, call centers using automated agents, Chatbots on a business’ Facebook page or website, and so on. Recently, however, AI is making a big splash in the industry with AI construction company Smartvid.io’s artificial intelligence engine “Vinnie.” The construction management team of the Safety Group go into more detail about AI’s recent impact on construction.

What Is “Vinnie?”

Nine major construction firms have teamed up with 16 for their new construction AI software called “Vinnie.” He quickly “studies” millions of images to spot and identify objects as potential hazards on the jobsite. Once a potential safety risk has been identified, Vinnie alerts teams to prevent injuries, such as slipping on a puddle of water or stumbling upon electrical hazards.

According to a recent case study by Suffolk and Smartvid, the construction AI software alert system calculated 20% of all incidents over the course of three years with 80% accuracy. [1] Construction managers looking to get more alerts are able to receive calculations for 40% of total incidents for that duration with 66% accuracy, meaning only one in three are false, as stated by the construction companies.

With AI’s recent impact on construction estimating 25% of predicted incidents are prevented, a construction firm with 50 projects per year are able to prevent 40 to 100 accidents yearly, according to Smartvid.io. These estimates are considered good news for construction firms as it can help them save $1.4 million to $3.6 million. As stated by Smartvid.io, job site safety costs for contractors were at an estimated $36,000 per accident in 2018.

Changing the Future of Construction Management

As these optimistic results are made public, Smartvid.io continues to gain popularity from construction businesses and others who see Vinnie as an opportunity to make strides in the AEC industry.

“This work is not about one company’s risk,” said the chief data officer at Suffolk, “it’s about reducing risk across our industry.” [2]

Smartvid.io finished its initial financing round earlier this year with support from Suffolk, Building Ventures, and Leawood Venture Capital, which is comprised of a group of owners and executives from notable engineering, design, and construction companies in the Midwest.
With AI’s recent impact on the construction, we can expect to see a lot fewer accidents on-site making your job in risk management that much easier! If you’d like to learn more about Vinnie and construction safety gear or the best paying construction jobs, feel free to contact a member of our team at The Safety Group.

 

 

Sources:

[1] Smartvid.io – How Suffolk & Smartvid.io learned to predict and prevent construction incidents

[2] Smartvid.io – Introducing the next phase of predictive analytics for the AEC industry