Unlock data with AI technology

From reports and contracts to specifications and evaluations, the engineering industry generates large volumes of data on a daily basis, but 90% of engineering and construction industry data is unstructured, which makes it torturous to access and collect business information. when you consider that the average engineering designer spends up to a quarter of their day gathering information, it is clear that data access is a huge waste of valuable resources. So what can companies do to free up their employees so they can make better use of their skills and experience?

Large enterprises are routinely hampered by limited visibility into information stored as unstructured data and new research estimates that Artificial Intelligence (AI) tools represent a potential productivity savings of £37,000 per year for the average engineering organisation.

Preparing internal company data for search access is resource intensive. A significant amount of human time is required to search for information that is often stored across disparate legacy systems and disparate geographic locations, and to interpret, label, and classify the data, ready for inclusion in a searchable database. This is where technologies like AI present a clear opportunity for efficiency savings.

Artificial intelligence technology can process unstructured data, such as emails, video chats, and data in other non-traditional channels, and collect it in a way that makes it easily accessible. By accelerating the examination of vast amounts of information at a fraction of the time of manual processes, AI allows engineers to focus their expertise on reviewing and analyzing search results.

This is where AI-backed knowledge management software can deliver real benefits and help improve employee productivity. New cloud-based data discovery software solutions, such as those offered by iKVAThey have the ability to break down data silos and process information quickly and with extreme precision. Leveraging artificial intelligence, advanced machine learning, and vector mapping technology, iKVA’s solutions enable organizations to take advantage of unstructured data generated in their business in real time to reduce wasted time and boost insights. their teams.

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By enabling access to historical and previously undiscoverable data, AI can also help engineering consultancies improve planning processes. For example, if an engineer is looking to create a Statement of Work for a new project, AI-enabled discovery tools make it possible to use entire multi-page documents, such as business contracts, as a search query, rather than just a few. keywords, which means that the results are considerably more precise and relevant. With this knowledge, engineers can refer to relevant customer details or use critical information from similar approved jobs, saving precious time, creating fail-safe documents and reducing business risk.

conclusion

By leveraging advances in AI technology to gain insights from your existing untraceable data, you’ll be able to increase productivity, share knowledge, and reduce the business risk associated with meeting global demand for new infrastructure and engineering advances.

Professor Richard Mortier, CTO, iKVA

Richard is the CTO and founder of iKVAwhich develops AI-enabled knowledge management software for organizations.

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