Revolutionizing highway project cost estimates with Artificial Intelligence.
Contractors use past project data to estimate costs for highway projects. Traditional methods are not always accurate due to many factors. This study uses Neural Networks, a type of Artificial Intelligence, to create a better cost estimating model for highway construction. By analyzing data from past projects in Newfoundland, the researchers developed a user-friendly tool in Excel that can predict costs for new projects. The model can also adapt to changes in project factors and uncertainties, making it a valuable tool for cost estimation in highway construction.