We have joined forces with global engineering, management and development firm Mott MacDonald, and international cost consultants WT Partnership to form a global technology alliance.
The alliance will implement world-leading AI technology on large-scale projects, introducing a data-driven approach to project management, providing the opportunity to better manage projects of any kind globally.
This joint initiative will utilise our signature product, Octant AI, which scraps and analyses data to empower its users to make faster and more informed decisions.
Our founder and director, David Porter, has called on new methods to better handle large projects.
“The increasing complexity of projects, combined with human limitations, is at the root of the problem,” Mr Porter said.
“We’re aiming to lead the way in adapting this new technology through our alliance, and we’re seeking to make a measurable change to the performance of mega-projects globally.
“It’s a big challenge but with up to two trillion dollars in project overruns annually, there is a lot of benefit.
“We will leverage on the networks and expertise of Mott MacDonald and WT Partnership for the global deployment and execution of large-scale projects.”
Dan Phillips, Mott MacDonald’s global practice lead for project, programme and commercial management, notes many major projects currently fail to deliver despite much resources invested into them.
“Major projects are delivering less than budgeted benefits and inevitably become the focus of political and media scrutiny,” Mr Phillips said.
“The construction industry lags behind other industries in the use of data and adoption of AI technology.
“This technology will play a big part in helping us achieve better outcomes for project teams, clients and ultimately the end users who feel the effect of project delays and cost overruns the most.”
Nick Deeks, WT Partnership’s managing director, mentions the need for more industries to adopt emerging technologies like Octant AI.
“Our clients want more certainty, better adaptability and the better value for money that technology can deliver,” Mr Deeks said.
“We want to be leading in this field, and this is the most advanced AI technology available in the market.”
Octant AI has been used on civil projects and large government portfolios. There are plans for Octant AI to be used across more sectors in the near future.
“The results are remarkable, and we’re excited to see how we can widen its application to projects in a broad range of industries,” Mr Porter said.
“We are really pleased to be able to work with such respected and innovative firms. This gives our technology the channel to make a real difference at scale.
“We will be working closely with our alliance partners and clients to integrate this technology to deliver better outcomes for everyone.”