Cascade’s AI Finds Projects for Construction Companies

Cascade is harnessing AI to help construction companies and businesses in related industries find projects before they become public.

It provides an alternative to traditional methods for seeking projects which it says are slower. Its system provides automated project prediction which is designed to streamline the project bidding process.

The company claims to have used AI to surface over US$10bn in project opportunities for its clients, improving their bottom line.

The workings of Cascade’s AI technology can be broken down into three actions. It uses signal analysis to comb through various data sources, from bond filings to property transactions. 

It also uses predictive modelling, identifying patterns and indicators which suggest the launch of an upcoming construction project. Finally, it provides pre-public insights, which involves informing the client of projects.

The company admits that the accuracy and comprehensiveness of the public data sources can vary, with potential limited results in opaque markets.

Founded in London by Hannia Zia and Joana Ferreira, the company has secured US$3.5m in investment in a seed round.

Construction can automate 39% of work

Meanwhile, research from McKinsey & Company highlights that construction companies are not optimising AI and other automation technologies as much as they could to remain competitive.

McKinsey says companies could leverage technology to automate a substantial 39% of nonphysical construction work. 

It is widely known that introducing emerging technologies in construction can improve areas such as cost management, safety and workload on human staff, while also streamlining operations.

This is key in an industry with output that could fail to meet demand by up to US$40bn cumulatively by 2040, according to McKinsey.

Its global institute projects that by 2030 the AEC industry could unlock around US$228bn in annual value in the United States through AI and other automation technologies, while in Europe, this figure for the construction sector alone could equate to around US$126bn. 

McKinsey says: “Much of AI’s value could come from areas where time, money, and margins are lost today, and where AI can quickly improve efficiency. Areas such as invoicing, data entry, and equipment inspections are expected to change the most by 2030.

“Firms that control these layers may gradually capture more value than those that own only major project deliverables. How that value shifts depends on adoption speed, data access, commercial models, and where human judgment remains critical.”