Big Data, Big Risk?

When:  Dec 11, 2019 from 1:00 PM to 2:00 PM (ET)

Big Data, Big Risk?: The Increasing Use of Technology and Artificial Intelligence in Design and Construction

This webinar will examine how design firms can develop tools to leverage data to develop process and organizational structures to improve their capabilities.

A major driver behind design and construction industry change is the increased investment in rapidly evolving technology and the industry's commitment to updating systems, processes, and services. For design firms, this transformation can have major effects on the services they provide and the risks they assume. Firms can take advantage of using both augmented reality and virtual reality tools that both educate the client and construction team through a virtual prototype of the project and identify potential clashes before the construction process begins, significantly decreasing both project delivery time and the amount of project rework. Projects themselves will become "smart" with embedded sensors and constant monitoring that result in real-time problem-solving capabilities and life-cycle evaluations of whether the project as constructed meets the criteria that guided the project design.

Design firms face a transformative change in their role from one of providing an initial design solution to one of providing projects that are judged on their success in meeting the long-term requirements defined by design firms with their clients. The increased data flow can be updated dynamically and applied and reapplied digitally as the project design evolves and the project as constructed operates. However, such reliance on the use of "big data" can also result in "big risk" if the firm does not understand its role in the evolution of design, construction, and operation into a data driven process.

Design firms need to understand their risks as they increasingly mine and analyze data for their clients. Practical issues such as data verification, interoperability, and responsibility will have to be resolved to realistically be able to provide services around the data trove that will be generated. Firms need to be aware of alternative compensation methods that will allow them to generate potentially new revenue streams with their data management capabilities.

Speaker
Nahom A. Gebre, Risk Management Attorney

Nahom Gebre is a risk management attorney with Victor. A registered professional engineer, Nahom practiced civil engineering prior to his involvement with risk management issues. His background includes service as in-house counsel and project manager for a large engineering firm. Nahom provides risk management advice to Victor and CNA policyholders. Nahom received his Bachelor of Science in Civil Engineering from Washington University and his Juris Doctor from Tulane University Law School.

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