AI and cost estimating: Yes or no?

ASAQS executive director, Nolubabalo Tsolo says: “The profession is transitioning from a heavy focus on manual computation to strategic, tech-enabled decision-making. As such, QS professionals who upskill in digital tools and AI literacy will be better positioned to lead in the evolving built environment,”

In an exercise published on its website, the Association of South African Quantity Surveyors (ASAQS) tested if ChatGPT could be used for a cost estimation of a one-brick wall in Gauteng. 

The results raised some interesting questions, prompting this article, with insights from ASAQS executive director, Nolubabalo Tsolo. 

Q: What do you see as the key advantages of using AI to estimate construction costs compared to traditional manual methods? 

AI holds the promise to transform construction cost management entirely. It can significantly influence and enhance the accuracy of cost estimation, budget estimation and actual expenditure of construction projects. 

Machine learning, artificial neural network, deep learning, predictive analytics, Internet of Things (IoT) and Building Information Modelling (BIM) can efficiently quantify project elements – thus informed decisions can be made which:

Mitigate financial risks proactively. 

Monitor and track costs in real time. 

Optimise resource allocation. 

Tsolo explains that AI complements quantity surveyor (QS) expertise by acting as a powerful assistant, enhancing accuracy, efficiency and insight. “This frees up QS professionals to focus on strategic thinking, client engagement and value-added services,” says Tsolo.

Continue reading the article in Walls & Roof