The Civil Costimator uses Machine Learning and Artificial Intelligence (AI) to estimate any complex construction project anywhere in the world at any time of the day.
Our company name comes from three separate words: Civil + Cost + Estimator
From a single-family residential unit till more complex constructions that may include high-rise buildings, bridges, hospitals, airports, theme parks, multi-unit apartments, etc., two major drivers for construction industry growth play their roles:
1. Global population increase
2. Localized population density growth
There is no doubt about estimation of the costs in the Civil Works and its importance. As a matter of fact, by this estimation we may predict if a project is practical in the stage of Pheasible Studies. This ability is used by many stakeholders in the construction industry, who are going to spend money.
In our opinion, one of the main users among the personal investors, are bank who offer loans. Also insurance companies who offer insurance coverage on the loan contracts, are another good example.
Just to explain, when the Lehman Brothers problem started in USA, the writer was living in Dubai and was the witness of Dubai Construction Industry Falling Down. Many people escaped the country without paying their loan installments to the banks. Why? Because recession had not predicted that crisis! Among those who did not escape the UAE, there were people who found insurance companies should pay the costs. No wonder the insurance companies were silent completely at that stage, of course.
So the same scenario is true if a bank needs to check a project to be considered for loan yet. It means if bank checks each project with our tools, they have another type of insurance for their investment. Insurance companies also can protect their interest by using our products. How much money are we discussing about in a country like Canada to be engaged in civil loan contracts and the insurance giants behind the scene? Please think…