DAVAO. Cherryanne Lee Angoy, CEO of AIMHI, monitors the progress of her construction projects with her team using AIMHI, a construction profit management platform. (Contributed Photo)
DAVAO. Cherryanne Lee Angoy, CEO of AIMHI, conducts a demo and training for the early adopters. (Contributed Photo)
THE construction industry is one of the booming industries and major economic drivers in the country. Not much has been said about one reality, however – most construction companies have lost a lot of money on their construction projects.
Eve-on-Top, a Tagum City-based startup, was inspired to delve deep into this problem of lost profits in construction projects and came up with a solution – AIMHI, an Artificial Intelligence (AI)-based profit management platform.
“The construction and infrastructure industry has only seen a 1 percent increase in productivity over the past 20 years. Contractors’ profit margins continued to decline and could potentially put construction workers‘ jobs at risk,” said Cherryanne Lee Angoy, Chief Executive Officer (CEO) of AIMHI.
She concluded that one of the biggest challenges for contractors is completing projects to technical specifications and on time, while still achieving desired profit margins. This has become more difficult due to staff fluctuations, unpredictable weather conditions, material supply and shortages, machine failures, reactive cost management during construction, low staff productivity, and poor material inventory management, making construction decision management more complex.
She said that AIMHI is a profit management software that aims to solve those long-standing problems in construction projects that resulted in delays in project completion, over-budgeting and under-profit margins. By addressing these issues with AIMHI, contractors are expected to achieve a five to ten percent increase in profits.
AIMHI is designed to proactively inform stakeholders of rising costs and likely liabilities so they can reduce risk, accurately predict target profit earlier in the project, and provide them with the insights they need to make better decisions and complete projects profitably.
Another factor contributing to these problems is the slow adoption of innovation in the industry compared to other industries. Most subcontractors and some contractors still rely on spreadsheets to manage their construction projects. While AI has the potential to increase construction industry profits by 71 percent by 2035, according to Accenture, it’s still the least digitized industry.
“There have been many innovations for the construction industry, but they have been more focused on design and planning. There isn’t much technology that has been developed for the construction phase,” said Angoy.
AIMHI co-founder Monica Llamas-Turrecha revealed that AIMHI uses AI technology to go beyond just coding data or scheduling tasks. The AI analyzes real-time and historical construction lifecycle data to identify project inefficiencies, labor productivity footprint, and TCO behavior. Its excellent cost management feature ensures that every construction project is completed without delay and without going over budget.
She said users can also upload project estimates, track actual spend versus budget, track staff and equipment allocation, project schedule, proactively suggested tasks, overall progress report dashboard, timeline, overall budget, and project ranking.
Apart from that, the platform is easy to use and provides clear information as it uses construction management principles and reliable workflows.
Tagumenya innovator Angoy, who owns a construction company, has 16 years of experience in the US technology industry. Turrecha, on the other hand, is a Dabawenya with 5+ years of experience in Artificial Intelligence (AI) design and 10+ years of experience in the Information Technology (IT) industry in Australia. Both women shared a passion for innovation, IT and construction management that led them to found AIMHI.
With her extensive knowledge and experience in AI development, systems analysis and design, digital architecture and UX, Turrecha served as Eve-on-Top’s Chief Technical Officer and was responsible for AIMHI’s capabilities in realizing Angoy’s vision.
Along with Angoy and Turrecha’s journey, they realized the importance of intellectual property (IP) and were so blessed that Atty accompanied them. mom Janice Tejano as a member of the Board of Directors. atty Tejano was born and raised in the Davao region. She is an AIMHI Intellectual Property Attorney and Data Protection Officer and shares the same passion as the other two women for nurturing and coaching young teams to reach their potential in the startup industry.
These women’s passion for innovation led them to realize that there is a huge opportunity to bring AI to the construction industry, and at the same time, a huge opportunity to empower the women of marginalized construction workers.
With AIMHI, Eve on Top aims to be the first local company to introduce AI and technical innovations in the construction industry in Mindanao and the Philippines.
AIMHI is supported and incubated under the Innovative Startup Knowledge Optimizer (ISKO) program by UPGRADE, the Technology Business Incubator (TBI) of the University of the Philippines (UP). SPONSORED CONTENT