Key findings
In the future, GenAI is poised to enhance the role of Cost Estimators by streamlining data analysis and decision-making processes.
While AI will assist in tasks like number crunching and market analysis, it will not completely replace the critical thinking and judgment required in this profession.
GenAI will improve efficiency in tasks such as estimating costs and negotiating with clients, allowing Cost Estimators to focus more on complex problem-solving and strategic decision-making.
The skills of reading comprehension, critical thinking, and mathematics will remain essential, with AI serving as a valuable tool to augment these abilities.
How could AI or automation replace or complement job activities?
AI and LLMs, like Chatgpt, could automate activities such as digital data processing, information ordering, and memorization for Cost Estimators.
For example, AI could efficiently collect historical cost data and assess cost effectiveness of products, enhancing accuracy and efficiency in cost estimation processes.
Job description
Prepares cost estimates for product manufacturing, construction projects, or services to help management decide on pricing. Specializes in specific services or types of products.
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