Bilal M. Ayyub, PhD, PE, Dist.M.ASCE, Hon.M.ASME is a University of Maryland, College Park Professor and Director of Center for Technology and Systems Management; a Visiting Professor, Imperial College London; Senior Economist, and other positions.
In my previous post, I explored how AI is reshaping infrastructure risk modeling. (Link in comments.) Today, I want to extend that discussion to engineering economics. Infrastructure risk modeling is moving beyond static checklists and expert judgment. Today, artificial intelligence (AI) is enabling new quantitative methods that integrate technical risk
For decades, infrastructure risk modeling has relied heavily on expert judgment, historical records, and structured qualitative matrices. That approach built the foundations of modern risk analysis. But it is no longer sufficient. Today’s infrastructure systems are deeply interdependent, data-rich, and increasingly exposed to compound hazards, climate extremes, cyber-physical threats,
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