Artificial Intelligence (AI): What Role Can It Play In Your Risk Management-PCI Presentation on AI- Handout

PCI Presentation on AI- Handout

Pdf Summary

The presentation "AI and Its Role in Precast Construction and the Law," delivered by Tony Lehman from Hudson Lambert Parrott, LLC, explores the impact of artificial intelligence (AI) on the precast construction industry and related legal considerations. The session outlines AI’s historical context, current applications, and future possibilities, highlighting how AI is transforming construction practices and legal frameworks.<br /><br />AI, though conceptually longstanding, has advanced with developments like machine learning, deep learning, and generative AI (e.g., ChatGPT). These technologies analyze large data sets to automate tasks once requiring human intelligence. In construction, AI enhances risk management through financial modeling, safety issue identification, schedule optimization, and monitoring via wearables. It supports design processes by automating repetitive tasks, verifying building codes, and optimizing materials and structural integrity.<br /><br />Specifically for precast construction, AI aids in optimizing mix and rebar designs, predictive plant maintenance, quality inspections, inventory tracking, erection sequencing, and rigging analysis. Financial benefits include improved cash flow automation, fraud detection, and subcontractor evaluation.<br /><br />Legally, AI assists with contract and document reviews, basic legal research, claims management, and dispute resolution. However, challenges such as AI “hallucinations” (generating inaccurate or fabricated legal information) pose risks, requiring legal professionals to use AI cautiously and verify outputs to avoid ethical violations.<br /><br />Looking forward, predictions suggest AI will become increasingly integrated into construction by 2030, though limitations remain due to computing power and programming constraints. Solutions include expanding data centers and power capacity alongside continued education. Legal questions about data ownership, transparency, indemnity, and unintended consequences also demand attention.<br /><br />Overall, AI is poised to significantly influence precast construction efficiency, safety, and legal processes, underscoring the importance of understanding both its capabilities and limitations.

Keywords

Artificial Intelligence

Precast Construction

Construction Industry

Machine Learning

Deep Learning

Generative AI

Risk Management

Legal Considerations

AI Applications in Construction

AI Challenges