Progress? Innovation? Digitalization? All these terms are not quite common to bring together in the context of the construction industry. The German start-up from Munich, Building Radar, shows us that this should not be the case.
Conventional construction project research is extremely time-consuming
Every day many companies in the construction industry are looking for relevant construction projects with high personal and time expense. They are manually searching in newspapers, magazines and blogs for the „right“ project. This is not innovative, and also bears the danger of missing out important projects.
Thanks to AI, construction projects are discovered as early as possible
Building Radar took the opportunity to create a business that solves all these problems with artificial intelligence. Founded by Paul Indinger and Leopold Neuerburg in 2015, the company revolutionized the way of conducting research with algorithms and the power of artificial intelligence. The focus of this technology is on the earliest information procurement and high geographical coverage. In real time the AI scans a huge number of websites, tender platforms and online media about relevant construction projects. After this process, all data is brought together on a single platform. The generated information is individually searchable for any specific need.
Only in newspaper articles alone, artificial intelligence identifies over 5000 construction projects every day
Most important are the articles that are found in the newspapers. The earliest indications of planning can be found here, no matter if it is an industrial or logistics center, a new office area, a new school, a new hotel or a rehabilitation center. Information that is difficult to obtain, but essential for the property business, is made accessible. Searching through thousands of sources and millions of articles ultimately means that every day about 5,000 brand new construction projects all over the world are added on the platform. To complete this data, the AI technology uses additional inputs, such as information on type and location, construction phase or companies that are already involved. As a result, customers are given the opportunity to get in touch with the right people at the right time to place their products.
Many companies are already increasing their sales thanks to the information by artificial intelligence
This is beneficial for manufactures from a wide variety of sectors. Medium-sized companies from the design sector or manufacturer of facade systems, sanitary products, floor coverings and building services engineering are having the opportunity to get reliably more work in their order books. Companies like Viessmann, Linde, Vitra, etc. have found an innovative solution. On the one hand to promote the active acquisition of projects. On the other hand, Building Radar enables them to achieve their growth targets by strategically achieving better market penetration or opening up new segments. The new technology opens up an immense potential in the international area because artificial intelligence does not know any language or country border.
The article was orignally seen at: https://buildingradar.com/construction-blog/artificial-intelligence-identifies-international-construction-projects/