Bloomberg highlights Togal.AI as an innovator helping to build up the construction industry

It's not all about speed and efficiency - AI can mean (a lot) more dollars in the pockets of construction companies and their investors.

Bloomberg News, the top television network covering business and market news, singled out Togal.AI as an innovator and entrepreneur "moving the needle."

CEO and founder Patrick Murphy spoke with Bloomberg's "The Close" journalists about how innovations in construction technology - and namely, Togal.AI's advancements in bringing Artificial Intelligence to the construction industry - is already having significant impact on construction businesses being able to win more business and build buildings faster.

This conversation comes at a time when America faces a lack of affordable housing and a bottleneck of construction companies and contractors trying to keep up with demand. AI can compress the takeoff and preconstruction process from a matter of days or weeks, into just a few minutes by taking care of all the repetitive manual tasks that eat up time and dollars.

AI will by no means "replace" the estimator, nor will it "take any jobs". Rather, AI should be considered a tool that estimators and contractors can reach for to get the job done faster and with more accuracy.

Video Credit: Bloomberg TV