The Role of Generative AI in Enhancing Project Cost Modelling - A Practitioner's Perspective
Introduction Project cost determinants and their impact on project cost at the design, procurement, and construction stages assume increasing importance in project management day by day since competent cost estimation at the initial stage of a project is critical. The author suggests that although traditional models are widely used to estimate the cost of new projects, there is still a need to develop an innovative method to stay competitive in a world with ever-changing technology. This article presents an in-depth exploration of research into the use of generative artificial intelligence to estimate project cost. The author has divided this submission into five sections. Section 1 introduces generative AI and identifies the research gap (e.g. areas for future development). Section 2…