In some way, shape or form, artificial intelligence (AI) is making a name for itself in the business community. The construction industry is no exception as recently seen in the United Kingdom, where a $4.5 million investment will fund a software company’s latest technological endeavor to create real-world simulations of infrastructure projects.
Startup software company SenSat secured the funding from three investors
earlier this month, TechCrunch reported. SenSat’s equipment uses drone
imagery and spatial data to simulate a location, said CEO James Dean,
who also told TechCrunch that the technology gets a better image via
drone compared to satellites, which are typically much further away. The
images are then infused with sets of data, giving computers the ability
to determine the best course of action regarding the project’s design.
This concept is known as “machine learning,” meaning AI can improve
itself over time without human intervention.
“On a technical level, it allows us to build simulated realities for
medium to small physical areas, which we have known variables for,” Dean
said in the article. “This means we can check and quantify our results
against the real world, helping us build a foundation that can scale in
size and complexity.”
While the traditional approach may cost more time and money, Dean noted
that the SenSat tech is able to assess thousands of infrastructure
design options in minutes, not only saving millions of dollars but also
significantly improving the decision-making process.
According to a Jones Lang LaSalle, Inc. report, more and more venture
capitalists are investing in global construction technology, with
startups receiving more than $1 billion in the first half of 2018.
Investment in the U.S. alone is about 30% higher than all of 2017.
—Andrew Michaels, editorial associate