Intel Capital has announced a significant strategic investment in Buildots, an AI construction startup based in Israel and the U.K. This move comes as Intel aims to bolster its own manufacturing capabilities while optimizing construction efficiencies through innovative technologies.
Buildots leverages AI and computer vision to create digital twins of construction sites. These digital twins, produced using 360-degree cameras, enable real-time tracking of project progress, identification of bottlenecks, and optimization of workflows. The company has established partnerships with construction giants like Pomerleau, NCC, and Ledcor, providing them with advanced tools to streamline their operations.
Intel Capital is leading a $15 million investment round into Buildots, adding to the startup’s previous $106 million in funding. This investment is particularly noteworthy as it aligns with Intel’s broader strategy to expand its manufacturing capacity and improve cost efficiencies.
Intel’s Manufacturing Expansion
Intel is heavily invested in expanding its manufacturing capabilities. The company has committed $20 billion to build two new fabrication facilities (fabs) at its Ocotillo campus in Arizona. Additionally, Intel has launched the Intel Foundry business to manufacture chips designed by other companies. These projects, along with others in Ohio and worldwide, represent a massive construction effort expected to cost around $100 billion.
Intel’s significant construction endeavors underscore the need for increased efficiencies to manage costs and timelines. Buildots’ AI-powered tools, including a recent “delay forecast” feature, are designed to predict and mitigate project delays, potentially reducing delay times by up to 50%. This technological advancement is crucial for large-scale projects like Intel’s fabs.
Industry Impact and Collaboration
The construction industry has traditionally been slow to adopt digital solutions due to the complexity and uniqueness of each project. However, AI technologies like those developed by Buildots are starting to change this dynamic by providing tools that can significantly improve operational efficiencies.
While neither Intel nor Buildots has confirmed direct collaboration, Buildots has hinted at working with industry giants, including Intel, on social media. Intel Capital’s investment director, Lisa Cohen, emphasized Intel’s understanding of the need for technological efficiencies in large-scale construction projects. As a result of the investment, Cohen will join Buildots’ board of directors, further solidifying the partnership.
Intel Capital’s investment in Buildots reflects a strategic move to enhance Intel’s construction efficiency through cutting-edge AI technology. This partnership not only supports Intel’s manufacturing expansion but also positions Buildots as a key player in the digital transformation of the construction industry. With the potential to revolutionize construction management, this collaboration signifies a significant step forward in integrating AI solutions into large-scale industrial operations.
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