Regardless of industry or sector, over the past 12+ months “artificial intelligence” and “machine learning” have quickly asserted themselves in nearly every conversation relating to business and technology. Truthfully, it is hard to overlook the disruptive nature these technologies possess, especially when assessing tedious, manual, or repetitive functions that are prone to user error or are considerably time-consuming.
That notion rings true for AI/ML solutions in the AECO industry. In particular, Building Tech solutions leveraging AI/ML for generative design and planning have seen considerable interest, both from an investment and early adoption point of view. We are seeing the utilization of this technology for risk management, planning & scheduling, cost forecasting & analysis, and perhaps most notably, generative design & optimization.
When pulling metrics from BuiltWorlds’ Venture Dashboard, which tracks all deals in the built environment in terms of focus area, round, amount raised, and catalogs the lead investors, you can see a steady stream of capital being deployed for the above specialties, especially for newer ventures (pre-seed to Series A). This indicates that AI/ML is a trend that likely will not be going away as quickly as it came.
Below are a few established and up-and-coming companies leveraging AI/ML on our radar who you should know going into 2024:
- Cedar - Cedar is a platform for residential construction that addresses the complexities around infill development and dramatically reduces the time it takes to go from land acquisition to permitting. Our web-based explorer simplifies property search, site analysis, zoning, code compliance, and financial modeling and, based on this, suggests design options for your site.
- Crowda - Crowda as an AI-powered real estate development investment platform would connect investors with development projects and provide comprehensive due diligence through the use of artificial intelligence, creating a more efficient and accessible investment opportunity for all parties involved.
- Delve by Sidewalk Labs (Part of Google) - Delve empowers real estate teams to design better, faster, and with less risk by leveraging generative design and AI to reveal the very best options for your project priorities.
- Hypar - Hypar is a cloud platform for the exchange of Architecture, Engineering, and Construction (AEC) expertise, providing key infrastructure, tools, and an extensible data model to enable industry collaboration on generative design solutions compatible with popular desktop design environments.
- Pelles.ai - Pelles, a member of the 2023 Formwork Labs Cohort, leverages the power of AI to understand construction documents and automate the most redundant free-con tasks without a hassle to boost confidence, save time, and win more projects.
Ready to get involved?
Are you interested in showcasing your AI/ML-enabled solution at the Buildings Conference in NYC (May 22-23, 2024)? Complete BuiltWorlds’ Solution Provider Survey using the button on the right to be considered for the Demo Night Competition in front of BuiltWorlds Venture Forum Members and other conference attendees!
- qbiq - qbiq unlocks real estate potential through artificial intelligence. qbiq’s pioneering technology helps brokers, landlords, and tenants drastically accelerate deal decision-making, by reducing manual and lengthy processes from weeks to seconds.
- Rayon - Draw floor plans faster, together — Rayon is a collaborative space design software for the built environment that believes space design is undergoing a pivotal moment, that can be condensed to a simple statement: ordinary buildings matter.
- Skema.AI - Skema is a leading next-level BIM solution provider. Through partnerships with architects, designers, contractors, and building owners, we deliver AI-enabled solutions that help AEC firms transform their business models and practices.
- Spacio - Spacio is attempting to democratize access to design intelligence. They believe historical value is rarely documented and shared within an office or the industry. This leads to projects starting from a blank canvas instead of a solid foundation of data-based facts. They want to structure building knowledge and to make it easy to share and discover.
- SWAPP - By leveraging AI and data, SWAPP is leading a technology revolution. Our unique combination of technology and human touch delivers a comprehensive architectural and planning solution with data-driven speed and precision. We are redefining the property analysis, design, visualization, and the different planning phases across the architectural process and by extension the AEC (Architectural, Engineering and Construction) ecosystem.