Tag: Delays
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Revolutionizing construction: AI’s role in reducing project delays
In the construction industry, unforeseen issues in the original contract or drawing set are almost inevitable. Design addenda and RFIs are common, with over 87% of construction projects experiencing changes that lead to delays or cost overruns. These delays can significantly impact project budgets, leading to costly contractual disputes, strained stakeholder relationships, and potential loss of…
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Ending Payment Delays in the Construction Industry
Every day, construction companies across the United States lose nearly $767 million due to payment delays and inefficiencies. This staggering drain on the industry totaled $280 billion in 2024 alone — enough to build 14 Empire State Buildings. For an industry already grappling with thin margins and rising costs, these payment delays aren’t just numbers on a…
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Buildots’ Latest AI Feature to Combat Construction Delays
Buildots, an AI construction technology company, has introduced its new Delay Forecast feature. This tool leverages AI to predict potential delay risks and alerts construction teams about pace issues, enabling them to address these problems proactively before they escalate. The feature provides detailed, activity-level insights into the root causes of delays, helping project managers continuously…