Newforma Acquires Lumi AI and Sets Its Standard for AI Answers on Project Data

Read article: Newforma Acquires Lumi AI and Sets Its Standard for AI Answers on Project Data

Newforma, the project and information management company for architecture, engineering, construction and owner (AECO) firms, has announced it has acquired Lumi AI, a company whose analytics engine turns plain-language questions into explainable answers.

According to Newforma, AI used to inform project decisions should meet three tests. Answers must be explainable, so the reasoning is visible. They must be verifiable against the source data, so they can be checked. And they must be accurate enough to act on, because on a live project a decision carries liability. Lumi built its engine around those tests. It asks clarifying questions when a prompt is vague, shows the logic behind every answer, and proactively flags data quality problems when it finds them.

Peter Cannone, CEO of Newforma, said, “A lot of companies are telling this industry their AI is better. We’d rather say out loud what better means and be measured against it. Explainable, verifiable, accurate enough to act on when liability is on the line. Our customers don’t need another AI that sounds confident, they need answers they can verify. Pairing Lumi’s engine with the deepest project data structure in AECO is how we set the standard rather than join the chorus. Everyone in this industry wants to be your single source of truth. We would rather be the single view into all of them.”

Ibrahim Ashqar, co-founder and CEO of Lumi AI, said, “We started Lumi to redefine how people interact with their own data: to make it as simple as asking a question. Newforma brings rich project data and a large base of firms who depend on it. Combining that with Lumi’s engine unlocks far greater value for a much wider audience.”

Source

SIGN UP TO RECEIVE INDUSTRY UPDATES

Join our community of 200,000+ real estate leaders and get weekly insights and updates with our newsletter.

Join the Real Estate Community

RSVP for the Developer Tour

Wednesday, September 9th

11:15 AM – RSVP here

Thursday, September 10th

11:15 AM – RSVP here

RSVP for the Residential Tour

Wednesday, September 9th

10:30 AM – RSVP here

3:00 PM – RSVP here

Thursday, September 10th

10:30 AM – RSVP here

3:00 PM – RSVP here

RSVP for the Sustainability Tour

Wednesday, September 9th

10:30 AM – RSVP here

3:00 PM – RSVP here

Thursday, September 10th

10:30 AM – RSVP here

3:00 PM – RSVP here

RSVP for the Operator Tour

Wednesday, September 9th

10:30 AM – RSVP here

3:00 PM – RSVP here

Thursday, September 10th

10:30 AM – RSVP here

3:00 PM – RSVP here

RSVP for the Asset Manager Tour

Wednesday, September 9th

10:30 AM – RSVP here

3:00 PM – RSVP here

Thursday, September 10th

10:30 AM – RSVP here

3:00 PM – RSVP here

Last chance:

Tickets to Europe's Largest Real Estate Tech Event available from £132.

*Offer ends on Friday, 7th February.

Closer to the event, tickets will go up to £1,095.

*Offer ends on Friday, 7th February.

PropTech Connect

Gain Access to the Newsletter