Utilising machine learning, the suite allows the identification of potential risks in construction projects
Technology giant Oracle has launched a new suite of artificial intelligence (AI) and analytics applications to enable informed project decisions in the engineering and construction industry.
The new suite, named Oracle Construction Intelligence Cloud Service, is designed for early identification of potential risks associated with construction projects.
The suite enables the detection of risks by continuously analysing project data managed in Oracle Construction and Engineering solutions, utilising machine learning.
Oracle Construction Intelligence Cloud Advisor is the first application launched by the company as part of the new suite.
By providing predictive intelligence, Oracle Construction Intelligence Cloud Advisor helps in improving decision-making at all levels of an organisation.
The application also anticipates what may happen next, with its re-trainable machine learning models.
Oracle Construction and Engineering senior vice president and general manager Mark Webster said: “Engineering and construction organisations are struggling to mine their data for useful insights into the performance of their projects and operations.
“Oracle Construction Intelligence Cloud Service was shaped by our customers’ need for intuitive tools to make their project outcomes more predictable and their businesses more competitive and profitable.”
Using data from Oracle’s Primavera scheduling solution, Oracle Construction Intelligence Cloud Advisor predicts project delays to help organisations to initiate appropriate corrective actions.
In addition, the application is designed to help organisations to create enhanced estimates, assess the impact of predicted delays on downstream activities, and improve the scheduling process to increase productivity.
Oracle plans to expand Oracle Construction Intelligence Cloud Advisor to include data from across the Oracle Construction and Engineering portfolio over the next year.
The enhancements will be aimed to help organisations in identifying potential risks related to litigation, safety, rework, supply chain performance and cash flow.