F230: Generative AI’s Long-Term Impact on Cost Engineering for Manufacturing 4.0

As manufacturing embraces Industry 4.0, artificial intelligence (AI) transforms cost engineering, optimizing operations and driving competitiveness. Generative AI, a next-generation advancement, reshapes cost estimation by synthesizing data from diverse sources, enabling swift adaptation to changing conditions. This presentation explores generative AI’s role in enhancing speed to market, accuracy, and profitability. We’ll cover practical applications like design optimization, real-time inventory management, and sustainability initiatives, showing how AI-driven systems streamline processes and support environmental goals. Real-world examples will illustrate how generative AI moves beyond traditional data limitations, enabling informed decisions with unprecedented precision. Ethical considerations, including data security, transparency, and human oversight, will also be discussed. Generative AI represents a transformative shift for cost engineering, positioning manufacturers to innovate and thrive in today’s complex market.