Research + Tech

Artificial intelligence can help predict company’s futures

With the topic of artificial intelligence on the rise, a recent Forbes article reported AI shows promise regarding analyzing data and predicting future outcomes.

Forbes shares the following three ways AI can help predict your company’s future.

• Financial forecasting. Strategic planning for a business involves using historical data to forecast revenue and other financial data. The Association for Financial Professionals says AI forecasting can identify patterns from large datasets and offer fast, accurate predictions of financial performance and market trends. German technology conglomerate Siemens reported a 10% improvement in financial forecasting when using AI.
• Predicting customer preferences. It is important for businesses to gather data regarding customer behavior, and being able to predict what customers may want in the future can be significant. AI-powered customer relationship management systems identify patterns from demographic data and purchase histories to group similar customers together, a process that reportedly can be used to predict customer desires and market trends.
• Anticipating inventory. Maintaining a certain amount of inventory can be a delicate balance, and AI can use historical data and ongoing trends to predict what products or services may soon be in demand. AI also can factor in the production time of items to alert business owners when they may need to boost their inventory.

SPRI posts white paper on IBC change

SPRI has posted a new white paper detailing the process of building consensus among multiple diverse stakeholders to change the International Building Code.® The company, along with representatives from the Asphalt Roofing Manufacturers Association, Lightning Protection Institute, National Electrical Manufacturers Association, NRCA, Roof Coating Manufacturers Association, UL Solutions and United Lightning Protection Association, worked to build consensus to have new language written, approved and adopted into the IBC.

The 2024 IBC includes language clarifying how lightning-protection systems, when used on commercial structures, should be attached to gutters, metal edge systems, roof covers and roof assemblies. The new language has been added as subsections in Section 1511-Rooftop Structures and stipulates the work must be completed in accordance with the instruction of the manufacturer or a design professional. The language also notes lightning-protection system components must be properly flashed where they are secured to or penetrate a roof.

The white paper, titled “Lightning Protection Code Change Updates,” was co-written by SPRI and the Lightning Protection Institute and is available at spri.org.

ABC releases artificial intelligence resource guide for contractors

Associated Builders and Contractors has released an AI technology guide for the construction industry, including definitions, construction use cases and considerations. The purpose of the guide is to provide a level of knowledge to ensure contractors can be active participants in the construction AI conversation.

“The possibilities of AI technology may sound endless, but we must first educate ourselves on the basics. This resource is a starting point to understanding AI and its potential impact on the construction industry,” says Patrick Scarpati, ABC’s director of construction technology and innovation and the guide’s author. “The industry has opportunities to evaluate how we can better deliver projects. We can lean on AI in achieving essential goals like enhanced safety design, knowledge transfer, planning, supply chain optimization, upskilling and workforce development.”

The guide describes uses of AI during the construction project life cycle, including preconstruction, construction and building maintenance. It also provides definitions of terms, such as deep learning and predictive AI, as well as best practices in drafting office AI policies.

More information is available at abc.org/ai.