Construction tech - Driving change
Updated: Jan 7, 2020
In recent years, there has been some recognition by the sector that traditional approaches to operations by construction companies are no longer working effectively enough to deliver high quality projects on time and within budget. Contrasting the efficiency gains achieved by manufacturing industry after adopting technology compared to the very low productivity gains of construction and the added headwinds of low unemployment and low margins means construction will need to find a way to do things more efficiently.
Construction tech is a group of technologies emerging to solve these challenges. ConstructionTech typically consist of digital solutions offered in the planning, design and building phase. These technologies include cloud-based management software, Internet of Things (IoT) sensors, Building Information Modelling (BIM), Artificial Intelligence (AI) and machine learning, Virtual Reality (VR), Unmanned Aerial Vehicles (UAVs) and digital marketplaces.
Why Construction tech?
Construction already operates with some of the thinnest profit margins of any industry, and firms have large and complex legacy systems. Change management requires significant time and investment, and is hampered by the project-based nature of siloed operations. Construction sectors the world over are grappling with these challenges, and construction remains one of the least ‘innovation active’ sectors globally. However, when set against a backdrop of a global construction output valued at over US$8 trillion in 2015 and forecast to grow to US$15.5 trillion by 2030, it’s clear that the stakes are high.
AI technology used in construction is going to become the norm in terms of collating and analyzing multiple streams of data from an integrated digital workflow. Construction sites generate quantities of valuable data and the companies ahead of the curve are looking for ways to harvest and leverage the data created to improve business outcomes. Properly trained AI can categorize data faster than a human engineer, cutting the time needed to get the clearest picture of issues on a jobsite and freeing up engineers to focus on higher value activities rather than writing status reports.
BuildAI uses advanced computer vision techniques to identify structures, deliveries and milestones amongst other items to accurately forecast completion of works, recording any delays whilst suggesting intervention strategies to keep projects on track. Our customers see a real benefit in terms of ROI and productivity and transparency using our software. BuildAI technology is used to record, analyse and predict outcomes, that allows engineers to focus on delivery rather than meetings and reports. Structure progress, trade productivity & supplier coordination can now be automated using AI which saves time and precious days when delivering high rise towers.