AI’s big challenge: how to engineer in social responsibility

SiliconANGLE | March 26, 2019

The current discussion around artificial intelligence is beginning to resemble the process of buying a shiny new car. There is a great deal of time and energy devoted to haggling over the cost and options before anyone actually gets to drive the vehicle and finds out what it can do.
At the center of the debate is whether AI has the proper guardrails to ensure responsible future use, as concerns continue around issues such as gender or racial bias in AI-driven facial recognition and hiring algorithms.
These concerns were further highlighted over the course of two days this week at EmTech Digital 2019, MIT Technology Review’s annual conference held in San Francisco. Interspersed between sessions on AI chipsets and robotics were weighty topics such as Ethics in AI, The Human Impact of AI, and AI for Good.

Spotlight

One hundred years ago, who would have imagined that web developers, coders, SEO consultants, site designers, digital analysts, systems engineers, bloggers, social media experts, growth hackers, content managers, UX designers, marketing technologists, and mobile developers would have been amongst the most highly respected and sought-after careers in the developed world?

Spotlight

One hundred years ago, who would have imagined that web developers, coders, SEO consultants, site designers, digital analysts, systems engineers, bloggers, social media experts, growth hackers, content managers, UX designers, marketing technologists, and mobile developers would have been amongst the most highly respected and sought-after careers in the developed world?

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PRODUCTS,MATERIALS,CONSTRUCTION

Clayton, Dubilier & Rice Completes Acquisition of Cornerstone Building Brands

Cornerstone Building Brands | July 28, 2022

Cornerstone Building Brands, Inc. (“Cornerstone Building Brands” or the “Company”), the largest manufacturer of exterior building products in North America, today announced that Clayton, Dubilier & Rice (“CD&R”) has successfully completed the acquisition of Cornerstone Building Brands. Holders of a majority of the shares of Cornerstone Building Brands common stock not owned by CD&R and its affiliates voted to approve the acquisition at the Special Meeting of Stockholders held on June 24, 2022. The acquisition also received the approval of the holders of a majority of the shares of Cornerstone Building Brands common stock outstanding at the Special Meeting. With the completion of the acquisition, Cornerstone Building Brands’ common stock has ceased trading and will no longer be listed on the New York Stock Exchange. “The closing of this transaction is an important milestone for Cornerstone Building Brands, and we are pleased to be entering our next phase of growth as a private company, With CD&R’s operational and strategic support, Cornerstone Building Brands will be even better positioned to accelerate our future growth plans and advance our journey to be the premier exterior building solutions company and deliver enhanced value to our customers. I want to thank all Cornerstone Building Brands employees for their continued dedication and hard work. This transaction is a testament to our team’s unwavering commitment to our customers and focus on executing our strategy. I am excited about the opportunities ahead for Cornerstone Building Brands, and I look forward to continuing our work together as we drive value for all stakeholders.” -Jeffrey S. Lee, Executive Vice President and Chief Financial Officer of Cornerstone Building Brands. J.L. Zrebiec, Partner at CD&R, said, We have long admired Cornerstone Building Brands’ business and talented team, and we are thrilled to work even more closely with its leadership team and employees in this next chapter. We firmly believe that the Company is uniquely positioned to expand on its position as the largest manufacturer of exterior building products in North America, and we look forward to working together to build on the significant momentum underway. Centerview Partners LLC is serving as financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to a special committee of Cornerstone Building Brands’ independent directors. Sullivan & Cromwell LLP is serving as legal counsel to Cornerstone Building Brands. UBS, Barclays, BNP Paribas Securities Corp., Goldman Sachs, Jefferies, Natixis, New York Branch, RBC Capital Markets, and Societe Generale are providing financial advisory services to CD&R. Kirkland & Ellis LLP is serving as legal counsel to CD&R on the transaction and Debevoise & Plimpton LLP is serving as legal counsel to CD&R on the financing. CD&R has obtained committed financing from Deutsche Bank Securities Inc., UBS Investment Bank, Barclays, BNP Paribas, RBC Capital Markets, Societe Generale, Goldman Sachs, Natixis, New York Branch, Jefferies, Apollo, Blackstone Credit, and U.S. Bank. About Cornerstone Building Brands, Inc: Cornerstone Building Brands is the largest manufacturer of exterior building products by sales for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., we serve residential and commercial customers across the new construction and repair and remodel markets. Our market-leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems and metal accessories. Cornerstone Building Brands’ broad, multichannel distribution platform and expansive national footprint includes more than 20,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and environmental, social and governance (ESG) responsibility are embedded in our culture. We are committed to contributing positively to the communities where we live, work and play. About Clayton, Dubilier & Rice: Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since its inception, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of over $175 billion.

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CONSTRUCTION

Procore Works with AWS to Bring Digital Twins to the Construction Industry

Procore | July 16, 2022

Procore Technologies, Inc.a leading global provider of construction management software, today announced it is working with Amazon Web Services (AWS) to leverage AWS IoT TwinMaker to extend the value of construction data into facility operations. The tools AWS IoT TwinMaker provides accelerate the creation of digital twins for buildings, factories, industrial equipment, and production lines. Procore’s platform serves to connect all construction stakeholders in the lifecycle of a built asset. AWS IoT TwinMaker will allow Procore data to be integrated from design and construction into operations. Procore project owners will be able to incorporate as-built information from Procore with real-time data sources using TwinMaker, extending the value of construction information into operations. This consolidation of information can streamline operations and maintenance and enable lifecycle analysis of portfolio assets. “We’re very excited about our partnership with AWS. Roughly 80% of the lifecycle cost of a project is in the operations phase, With this partnership we can leverage Procore’s course of construction data during that operations phase to help owners reduce costs, optimize performance, and be better prepared for future project needs.” -Tiffany LaBruno, product director, owners at Procore. AWS IoT TwinMaker will make it faster and easier to create digital twins of real-world systems. Using AWS IoT TwinMaker, developers can get started quickly building digital twins of devices, equipment, and processes by connecting AWS IoT TwinMaker to data sources like equipment sensors, video feeds, and business applications. Built-in connectors for integration with sensors, 3D visualization, and downstream data analytics are transforming the built environment. About Procore- Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe

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ENGINEERING TECH,CONSTRUCTION

Colliers acquires leading Australian engineering services firm

Colliers | August 08, 2022

Leading diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today it has acquired a controlling interest in PEAKURBAN Pty Limited (“PEAKURBAN”), one of the fastest growing engineering companies in Australia. The PEAKURBAN senior leadership team will remain significant shareholders of the business under Colliers’ unique partnership model. The business will rebrand as “Colliers Engineering & Design” and integrate into Colliers’ existing Australian operations. Terms of the transaction were not disclosed. Founded in 2016, with more than 100 professionals operating from five offices in Australia, PEAKURBAN specializes in shaping communities with a focus on planning, due diligence, and engineering and design services for residential and mixed-use developments, civil infrastructure, water and wastewater, and industrial sectors. “Building on our continued success in the U.S., PEAKURBAN represents the first international acquisition for our Colliers Engineering & Design business, Our differentiated approach continues to attract best-in-class firms who value our unique partnership model and long-term growth horizon, and who wish to thrive within our decentralised model and enterprising culture.” -Elias Mulamoottil, Co-Chief Investment Officer of Colliers. The expansion of Colliers Engineering & Design into Australia will complement our existing Project Management and Strategic Advisory capability and enhance our service offerings to unlock opportunities and accelerate growth for our clients and people, said John Kenny, CEO Colliers Asia Pacific. PEAKURBAN’s values and culture align strongly with ours and we are delighted to welcome these talented professionals to our organisation. "Joining one of the most respected professional services organizations globally is an important step for us, Our reputation for developing commercially smart and practical engineering and planning solutions, combined with Colliers’ deep infrastructure, enterprising culture and impressive performance over many years, will help create the best outcomes for our clients and people.” -Brent Thomas, Co-Founder and Managing Director of PEAKURBAN. About Colliers: Colliers is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people.

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