Togal.AI CEO: AI Can Solve for 75% of Construction Frictions
Moore’s law is getting an artificial intelligence (AI) makeover.
This, as rather than the pace of technology doubling every two years, as posited in 1965 by Gordon Moore — one of the godfathers of the semiconductor industry — advancements in next-generation computing capability have rapidly accelerated to a degree never before thought possible now that we’ve entered the age of generative AI.
“Things are doubling every few weeks, two months,” Patrick Murphy, Founder and CEO at construction technology company Togal.AI, told PYMNTS in a conversation about recent advances in generative AI’s commercial applications.
Moore’s law has been completely “blown away,” he added.
“In just the four-year period [since founding Togal.AI] it’s been unbelievable to watch the advance of AI and how the models and algorithms we were using then have improved now,” Murphy said.
He emphasizes that advances in access to data, particularly around how it is stored and labeled, have continued to evolve rapidly, helping form a critical background for the AI ecosystem’s exponential growth curve.
A technical ecosystem is transforming how even traditional businesses like construction operate.
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Simple Implementations of Increasingly Powerful Technology
From the 1970s to today, most industries saw a 290% increase in productivity.
Most industries, that is, except construction, Murphy said. Productivity within the construction industries has remained unchanged — a 0% increase over at least the past half a century.
“There’s so much information in construction, from the actual plans, the blueprints, the spec books, all the various contracts across owners, suppliers, third parties; and not to mention the legal documentation for each build, the schedules, budgets, and other various architectural plans. The list goes on and on,” Murphy said, noting that field teams are constantly rooting through documents and saved PDFs, searching for the right information they need at that particular moment.
The reality of the construction industry today is one of “constant friction” around surfacing relevant information, he said.
That’s why he sees tremendous potential in using generative AI to “reduce friction with all the documentation” and “consolidate the thousands of pages” for every project so that humans are no longer wasting time and energy on problems that are ultimately tangential to the execution of a build.
“[The construction industry] has a really high ceiling for growth as far as implementing this kind of technology,” Murphy says.
Source: https://www.pymnts.com