PWX 2021

The Impact of Artificial Intelligence on Owners, Contractors, and Managing Claims (Room 242)

31 Aug 21
9:45 AM - 11:00 AM

Tracks: Construction / Project Management

The use of Artificial Intelligence (AI) in the construction industry is growing. It is the face of a new industrial revolution and represents the next great technology that will change construction. Contractors are already using it to prepare schedules to better optimize time and costs. Owners and consultants are leveraging AI to produce budgets and cost estimates for their programs and projects. But with the opportunities and benefits of AI come genuine risks, especially as it relates to the preparation, auditing, and negotiating of change orders. If construction owners fail to address AI in their contracts, the playing field may become unlevel. And contractors are not without risk. They will have to adopt AI or fall behind their competition. They will also have to revise their typical project management practices to limit their liabilities to damages. In this presentation, John Armstrong will demystify AI and help separate the buzz from reality. John will discuss how owners, contractors, and consultants can avoid the risks AI presents in the change management process. This presentation will also include an overview of what AI is, how it is currently being used in construction, how it could be used in the future, and discrete and actionable steps that can be taken to avoid these risks.