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Digital Modelling and Prediction: Missed Opportunities – Could We Do More?

As we confront some of the most complex and multifaceted challenges we have ever faced, the ability to predict outcomes and devise innovative solutions is more critical than ever. Research shows that only 0.5% of large-scale, major projects deliver on time, on budget and deliver the expected benefit. There is a strong motivation to do better.

This panel session at Bristol Technology Festival delved into the nature of these challenges, what’s required to solve them and how innovation in key areas can bring positive change.

We explored how digital and predictive enabling tools such as Modelling and Simulation, Artificial Intelligence and Robotics are enhancing our understanding of complex systems, enabling us to anticipate future scenarios and make informed decisions.

From urban planning and climate resilience to aerospace, space and transport, we spoke about how these technologies are being harnessed to turn uncertainty into opportunity and transform hyper-complex problems into solvable ones. We were joined by experts with national, international and regional responsibilities to discuss their real-world challenges, innovation needs and the exciting possibilities they unlock for the future.

Insights from the event

On Technology

New prediction capabilities fuelled by Advanced Modelling, Simulation, Deep Learning and Robotics technologies are enabling new types of market disruption through the creation and rapid validation of much more complex products across multiple sectors.

On Opportunities

We can positively disrupt industries such as construction and improve margins long-term using digital forecasting and prediction.

On Timing and Cross-Sector Differences

Some industries are perhaps waiting for their SpaceX or AlphaFold equivalent moment. We know it will come – who will be first?

On Challenges

  • Human Factors – Much of the delay in adoption comes down to a partial or missing understanding of how new technology can be used and what value it can bring, especially in cases where there has been little change in processes over the years. In many cases, a reframing of the problem space is required.
  • The prediction community will need to create or tell better stories to help communicate the value and possibility of these tools and methods. There is also a need for greater visibility of these stories and use cases to ensure the value is communicated widely.
  • In construction, projects need to be reframed as a mostly repeatable set of tasks across several tasks rather than one-off and bespoke to a project in order to take advantage of automation and tech reuse. This is key to unlocking meaningful return on investment.
  • There is an impression of progress through the adoption of some surface-level tools, but not enough use of high-quality prediction and modelling, particularly in the case of partial understanding of the value they bring.
  • Investment opportunities within businesses are low due to narrow margins. This has created a market gap – Who should fill it to unlock the potential discussed?
  • There is also a gap between recognising the strategic potential and having the means to be able to get ‘doing’ on the ground.
  • Sensitivity over sharing proprietary data is leaving some opportunities locked in the AI space.
  • Trust also needs to be established in the potential and delivery of new tools where a business may have to turn to a third-party vendor to deliver those tools.

On Skills

One way to improve the human challenges faced is to ensure that the current and upcoming generation of engineering graduates and professionals are trained in the fast-moving capabilities of new prediction technologies such as modelling and simulation. This is a core way of getting it into the corporate bloodstream.

On What’s Next?

  • There is a real need to create solutions to keep the UK at the forefront of a fast-moving period of disruption in tech and markets.
  • Demonstrate value to ensure buy-in from Business Development voices within corporate leadership.
  • The tools we use to build systems are just as crucial in driving success and need appropriate strategic attention from all stakeholders. As an RTO with a mission to advocate in this area, CFMS will act as a catalyst for this.
  • Secure government strategic prioritisation and investment to bridge the market gaps.

 

 

 

Thank you to our panellists for sharing their thoughts. As we move towards greater adoption of these tools and methods, it will be interesting to see how we overcome the challenges we face.

 

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