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Future-proofing infrastructure: leveraging AI and analytics for a competitive advantage

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Canada has a significant opportunity to boost productivity, especially in the infrastructure sector—which is plagued by inefficiencies, budget overruns, and delays. Tools such as artificial intelligence (AI) and analytics can help overcome these challenges, leading to improved efficiency and outcomes.

A recent report from TD Economics found that the adoption of AI across industries could boost Canada’s real gross domestic product by 5% to 8% over the next 10 years. “That implies a 0.5% to 0.7% lift to annual productivity that will help to offset some of headwinds from an aging workforce,” the report notes.

AI can enhance the productivity of employees and resources on the ground. For certain specific tasks where 10 people are currently needed, an AI augmented team could potentially do the work with one or two people in the near future.

Adoption of technology and AI in infrastructure

While companies in the infrastructure sector have a lot of data, few use it for decision-making. Consolidating this information and using analytics and AI can help organizations make better decisions, such as integrating real-time project monitoring.

Once that’s in place, resource management processes can be streamlined. For example, companies may notice that not all the on-site equipment is being used or some workers don’t have enough work but are still billing for their time. AI can also be more advanced and monitor potential issues, such as identifying and preventing equipment failures or proactively adjusting project plans to optimize resource efficiency.

AI will take over transactional processes—the ones that have only yes or no answers. It’s important because the type of work that is usually the most time consuming involves analyzing spreadsheets and crunching numbers.

And teams will evolve to consist of both humans and virtual agents. This shift will help address scarcity issues. Currently, if an expert with certain specialities leaves a team, they’re hard to replace. AI can bridge this gap by taking on technical roles, thereby maintaining operation flow and continuity.

A female engineer wearing a construction helmet and high visibility vest who’s looking at two monitors in a factory setting.

Use cases and applications

AI already has many real-world uses. Here are just a few examples:

Drones and computer vision technology can be used to monitor construction sites. For example, they can be used to detect potential hazards, ensure workers are adhering to safety guidelines, and perform real-time resource usage monitoring. 

A centralized view can track performance management of funds, assets, and portfolios. Executive reporting gives key stakeholders and investors answers quickly, automated recurring processes reduces the burden on analysts and reduces manual errors, and customized solutions based on specific needs can be created using existing models and reports.

Searching for and analyzing information is time consuming and tedious. With AI, businesses can quickly extract critical information such as deadlines, enhance the understanding of contracts, and get help with the production of term sheets. 

Document preparation and review is often repetitive. AI can use existing project content to provide creative support. It also provides real-time project status updates, which helps project managers proactively adjust plans as needed. 

Businesses can identify profitability drivers and track real-time variance. This can increase revenue growth and margin expansion through more effective sales targeting and pricing strategies, enhance strategic guidance through ongoing reporting and monitoring with data visualization tools, and reduce operating costs with key findings.

Steps for success

To be successful in the age of AI, you should consider the following:

Identify where your organization has large volume of high-quality data.

Train and upskill teams to effectively collaborate with AI.

Foster a learning community and knowledge sharing, experiment with creativity. 

Have clear business priorities and determine how AI can support them.

Encourage exploring generative AI initiatives. 

Develop partnerships with industry leaders.

While businesses can be reactive and wait for AI advancements, early adopters will gain a significant competitive advantage.

Learn how we used technology to help deliver improved outcomes for our clients.

We recently hosted a webinar in partnership with The Canadian Council of Public-Private Partnerships (CCPPP) about AI and analytics.

Click here to watch the on-demand version

How we can help

Our Infrastructure advisory practitioners guide clients along the entire project lifecycle, turning complex roadblocks into navigable bridges. Whether it’s proactively assisting with setting up appropriate project management systems, including implementation of AI, providing oversight on projects or handling cost and delay claims, our Infrastructure team is committed to offering strategic insights to enhance fiscal resilience and project controls to allow our clients to not only manage cost escalations effectively but to deliver successful projects.

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