Speakers:
Project InnoTwin – Creating a Digital Twin of Our Society
Date:
Tuesday, November 19, 2024
Time:
2:35 pm
Track:
Summary:
Migration, inflation, climate change, and more present us with numerous uncertainties when making socio-political or strategic business decisions. How can we still make robust decisions? In our BMBF-funded project, InnoTwin, we are developing a digital twin of German society. This allows us to conduct simulations under various conditions to identify actions that yield robust outcomes across a wide range of scenarios.
Guarding Public Works Projects with an Early Warning System for the Hong Kong Development Bureau
Date:
Tuesday, November 19, 2024
Time:
3:05 pm
Track:
Summary:
This talk discusses the Government of Hong Kong’s challenges in overseeing and assuring its 500+ active capital projects, aiming to avert costly delays and budget overruns with a suite of ML models. We introduce the development of an early warning system, drawing insights from 2,700 years of cumulative construction activity and a total value of USD 60bn. We will present and discuss our problem-solving approach, experimental evaluation, and conclude with useful guidelines for forecasters.