Procore Unveils AI-Powered Construction Tech Advancements at Innovation Summit 2024

Procore Technologies (NYSE: PCOR), a global leader in construction management software, kicked off its Innovation Summit 2024 today, showcasing a suite of new product advancements designed to revolutionise collaboration throughout the construction lifecycle.

For the past two decades, Procore has built a construction platform, serving customers worldwide from pre-construction to project completion. Now, the company is doubling down on its commitment to guide the industry through rapid technological advancements.

This year’s Innovation Summit unveils major updates to Procore’s core offerings in project management, quality control, safety, and construction financials. These advancements leverage the power of artificial intelligence (AI) and data to empower users and drive business success.

Here are some key highlights from the announced product updates:

• Deeper AI Integration: Procore Copilot AI will become even more integrated with the Procore platform through Microsoft Teams. This upcoming feature will seamlessly transfer vital project data and context directly into Microsoft 365. Users can then ask questions about projects in natural language within Teams and receive summaries with relevant information and links to source documents. Additionally, users can search, view, and attach Procore project information, such as RFIs (Requests for Information), specifications, and submittals, directly during calls, meetings, and chats.
• AI-Powered Location Management: “AI Locations” allows users to scan project drawings and automatically generate project location lists. This allows for organizing project items by location as they’re created in the field, streamlining future workflows. Procore will also leverage AI to surface key information on responses to RFIs and submittals, providing context on project requirements and industry benchmarks.
• Enhanced Visual Collaboration with Procore Maps: This new feature allows users to visualize photos on a map, offering a clear understanding of project progress across all areas. Photos can be filtered by date to pinpoint specific milestones or events throughout the project timeline. This streamlines visual data and allows for informed decision-making on the go. Users can also navigate directly to the location where photos were captured, providing instant context for team members regardless of their physical location.

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