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Teleo co-founder and CEO Vinay Shet discusses the potential impact of artificial intelligence on manufacturing and construction jobs on “The Claman Countdown.”

FIRST ON FOX – Artificial intelligence has entered the construction industry, and early adopters say the efficiencies and cost-cutting measures will revolutionize the $10 trillion sector of the global economy for the better.

Supply chain and building material software company DigiBuild has been using OpenAI's ChatGPT to bolster its program for months, and is set to unveil the results at an event in Miami on Wednesday evening.

DigiBuild, a supply chain and building material software company, has been using ChatGPT for months.

But ahead of the announcement, DigiBuild CEO Robert Salvador gave FOX Business an exclusive sneak peek of how the powerful AI tool has improved efficiency and slashed costs for the firm's clients, and he says the technology will be "market changing."

The construction industry is still dogged by the high material costs and supply chain woes brought on by the pandemic, and DigiBuild's software aims to help developers and contractors save money and improve their schedules. The help of AI has provided a remarkable boost to that end.

UNPLEASANT CUSTOMER SERVICE CALLS, ENDLESS WAIT TIMES MAY HAVE TECH FIX

To the company's knowledge, DigiBuild is the first to introduce ChatGPT into the construction supply chain, and the firm has some inside help. The building software firm is backed by major investors, including Y Combinator – which trained OpenAI CEO Sam Altman – and has an exclusive Slack channel with OpenAI that allows experts to build together.

Construction workers are shown with the Manhattan skyline and Empire State Building behind them in Brooklyn, New York City, on Jan. 24, 2023. (Ed Jones / AFP via Getty Images / Getty Images)

DigiBuild has been around five years and has automated the job of sifting through suppliers to find materials and working out scheduling. Now, what used to take a team of humans hundreds of labor hours using Excel spreadsheets, notebooks and manual phone calls has been reduced to a matter of seconds with the help of language learning models.

"ChatGPT has taken us to the next level," Salvador said. "Supersonic."

AI DATA LEAK CRISIS: NEW TOOL PREVENTS COMPANY SECRETS FROM BEING FED TO CHATGPT

"Instead of spending multiple hours probably getting a hold of maybe five or six suppliers, ChatGPT can find 100 of them and even automate outreach and begin communications with those 100 suppliers and say, 'Hey, we're DigiBuild. We need to find this type of door, can you provide a quote and send it back here?'" he said. "We can talk to 100 suppliers in one minute versus maybe a handful in a couple hours."

DigiBuild CEO Robert Salvador says ChatGPT has taken the company “supersonic.”

The CEO offered a real-world example of a job where material costs were literally slashed by more than half using the new technology.

One of DigiBuild's clients, VCC Construction, needed closet shelving for a project in Virginia, and the builder could only find one quote for $150,000 with limited availability. With the click of a button, DigiBuild was able to find a vendor in the Midwest that provided the shelving and delivered it within weeks for $70,000.

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Salvador says to imagine those results for a $500 million job or across the industry. He expects AI technology to become widely adopted.

"Before companies like us, the construction industry was still early in its digital transformation – they were late to the party," he told FOX Business. But now, "It's very much going all in on that, finally."

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World

Bob Geldof accuses Israeli authorities of ‘lying’ about starvation in Gaza

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Bob Geldof accuses Israeli authorities of 'lying' about starvation in Gaza

Bob Geldof has accused the Israeli authorities of “lying” about starvation in Gaza – after Israel’s government spokesperson claimed there was “no famine caused by Israel”.

Earlier this week, David Mencer claimed that Hamas “starves its own people” while on The News Hour with Mark Austin, denying that Israel was responsible for mass hunger in Gaza.

Appearing on Sunday Morning with Trevor Phillips, Geldof said the claims are false.

Follow latest: Gaza aid airdrops a ‘smokescreen’ and ‘distraction’, says UN agency chief

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Israel challenged on starvation in Gaza

Mr Phillips asked the Live Aid organiser: “The Israeli view is that there is no famine caused by Israel, there’s a manmade shortage, but it’s been engineered by Hamas.

“I guess the Israelis would say we don’t see much criticism from your side of Hamas.”

In response, Geldof said “that’s a false equivalence” and “the Israeli authorities are lying”.

The singer then added: “They’re lying. [Benjamin] Netanyahu lies, is a liar. The IDF are lying. They’re dangling food in front of starving, panicked, exhausted mothers.

“And while they arrive to accept the tiny amount of food that this sort of set up pantomime outfit, the Gaza Humanitarian Front, I would call it, as they dangle it, then they’re shot wantonly.

“This month, up to now, a thousand children or a thousand people have died of starvation. I’m really not interested in what either of these sides are saying.”

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Gaza: ‘This is man-made starvation’

In the interview with Mark Austin on 23 July, Mr Mencer added: “This suffering exists because Hamas made it so. Here are the facts. Aid is flowing, through the Gaza Humanitarian Foundation. Millions of meals are being delivered directly to civilians.” He also claimed that since May more than 4,400 aid trucks had entered Gaza carrying supplies.

It comes after MSF, also known as Doctors Without Borders, warned 25% of young children and pregnant women in Gaza are now malnourished.

The charity said Israel’s “deliberate use of starvation as a weapon” has reached unprecedented levels, and said that at one of its clinics in Gaza City, rates of severe malnutrition in children under five have trebled over the past two weeks.

MSF then called the lack of food and water on the ground as “unconscionable”.

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Aid waiting to be distributed in Gaza

In a statement to Sky News, an Israeli security official said that “despite the false claims that are being spread, the State of Israel does not limit the number of humanitarian aid trucks entering the Gaza Strip”.

Read more:
What does recognising a Palestinian state mean?
Surgeon claims IDF ‘deliberately’ shooting boys at Gaza aid points
Security shot at Palestinians at Gaza aid centre – ex-guard

It then blamed other groups for issues delivering aid. They said: “Over the past month, we have witnessed a significant decline in the collection of aid from the crossings into the Gaza Strip by international aid organisations.

“The delays in collection by the UN and international organisations harm the situation and the food security of Gaza’s residents.”

The IDF also told Sky News: “The IDF allows the American civilian organisation (GHF) to distribute aid to Gaza residents independently, and operates in proximity to the new distribution zones to enable the distribution alongside the continuation of IDF operational activities in the Gaza Strip.

“Following incidents in which harm to civilians who arrived at distribution facilities was reported, thorough examinations were conducted in the Southern Command and instructions were issued to forces in the field following lessons learned.

“The aforementioned incidents are under review by the competent authorities in the IDF.”

You can watch the full interview on Sunday Morning with Trevor Phillips at 8.30am tomorrow.

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Environment

Honda takes a page from Tesla playbook, launches new insurance business

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Honda takes a page from Tesla playbook, launches new insurance business

Say what you will about Elon Musk, but Tesla has changed the way that millions of people buy cars and, by extension, car insurance. Now, Honda is taking a page from Tesla’s successful playbook and launching its own in-house insurance business. Enter: Honda Insurance Solutions.

Honda Insurance Solutions is being launched as a fully licensed insurance agency serving the insurance needs of Acura and Honda customers, but it’s not stopping at competitive pricing and coverage options for Honda cars and motorcycles. Honda Insurance Solutions promises to go several steps beyond Tesla’s offering with coverage for trailers, RVs, homes, and even pets.

“Honda Insurance Solutions offers customers access to coverage through a brand they know and trust,” says Petar Vucurevic, President, American Honda Insurance Solutions, LLC and Senior Vice President, American Honda Finance Corporation. “Insurance is a key touchpoint in the vehicle ownership journey, and we aim to deliver a superior experience tailored to the unique needs of each customer, while promoting safer driving and increased peace of mind on the road.”

The company says the launch of its new insurance business is just part of Honda’s broader digital vehicle sales platform strategy, with future plans to integrate insurance offerings into new products.

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Electrek’s Take


Electric CUVE scooter; via Honda.

It’s important to note some of the key differences between Honda’s insurance offering and Tesla’s. Honda isn’t offering discounts, they’re not bundling insurance premiums into the vehicle financing, and they’re not building their insurance offerings into their dealerships’ checkout/F&I offices. Not yet, anyway.

What Honda is doing right now is deepening relationships with its existing customers and finding ways to make money on products it hasn’t sold them – whether that’s the Harley parked in the garage next to their Prologue or the garage itself.

It’s a smart play. And, once Honda figures out a way to cut franchise dealers out entirely and go to a direct sales model, it’ll look even smarter.

SOURCE | IMAGES: Honda.


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Politics

Demographics will ‘leapfrog’ Bitcoin adoption in Pakistan — Bilal Bin Saqib

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<div>Demographics will 'leapfrog' Bitcoin adoption in Pakistan — Bilal Bin Saqib</div>

<div>Demographics will 'leapfrog' Bitcoin adoption in Pakistan — Bilal Bin Saqib</div>

A young and tech-savvy population, combating inflationary pressures, is driving Bitcoin adoption and a new financial system in Pakistan.

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