Oracle Intelligence Cloud Service features AI and ML tools
The newly launched Oracle Construction Intelligence Cloud Service features a new suite of AI and analytics applications which will help the engineering and construction industry identify risks and improve decision making.
The new suite uses machine learning to continually analyze project data managed in Oracle Construction and Engineering solutions to identify potential risks and inefficiencies early.
The first application in the suite, Oracle Construction Intelligence Cloud Advisor, is available today, with other applications to follow.
Oracle Construction Intelligence Cloud Advisor provides predictive intelligence to improve decision-making at all levels of an organization.
Unlike software that provides only a view into what has happened in a project, the application also anticipates what may happen next. Its re-trainable machine learning models improve in accuracy over time as they learn from an organization's experiences.
The application uses data from Oracle's Primavera scheduling solution to predict project delays, which often lead to cost overruns, and help organizations determine appropriate corrective actions, identifying what project activities might be delayed and why.
Oracle Construction Intelligence Cloud Advisor can also help create better estimates, identify the impact of predicted delays on downstream activities, and improve the scheduling process to increase productivity.
"When you see some of the predictive modeling being done, such as Oracle's Construction Intelligence Cloud Service, you see an endless opportunity for us to be more proactively responsive as opposed to reactive," said Patty Sullivan, project manager, Strategic Initiatives Group at Burns & McDonnell.
"I believe there is an opportunity to manage or mitigate project risk with this technology. It is certainly something we will be looking at this year and we look forward to working with Oracle in utilizing this technology to improve and transform our industry."
Plans are afoot to expand Oracle Construction Intelligence Cloud Advisor to include data from across the Oracle Construction and Engineering portfolio over the next year.
These enhancements may help identify potential risks related to litigation, safety, rework, supply chain performance and cash flow. Additionally, new Oracle Construction Intelligence Cloud Service analytics and data service offerings will be added to the product line.
"Engineering and construction organizations are struggling to mine their data for useful insights into the performance of their projects and operations," said Mark Webster, senior vice president and general manager, Oracle Construction and Engineering.
"Oracle Construction Intelligence Cloud Service was shaped by our customers' need for intuitive tools to make their project outcomes more predictable and their businesses more competitive and profitable."
