By far, the industry of construction was one of the least digitized sectors in the world, although longtime ripe for a serious shift in technology. A handful of construction companies managed to note the importance of tech adoption, however, the rate of adoption of technology in construction is still very when compared to other sectors. One of the biggest problems in terms of the slow adoption of technology might be the fact that contractors are facing unclear directions.
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Unclear Directions in Digitization of Construction Companies
According to a KPMG survey conducted in 2018, over 54% of companies in construction and engineering are lacking appropriate strategies for tech adoption and digitization. However, the most recent statistics provided by the US Chamber of Commerce and USG shows that up to 75% of construction companies are already using a form of emerging tech and tech innovations. Most companies included in the report lied on technology by investing in augmented and virtual reality for training, project planning, safety enhancement, and several improvements in terms of productivity in construction. The contractors also use drones, wearable technology and VR, and equipment tagging.
Project Planning and Predicting Costs
Many contractors and construction companies are struggling with effectively predicting the costs of projects, which affects the outcome of the sum of all projects for contractors. As a result, construction companies are losing profit and are faced with poor project planning and reduced visibility of project outcomes. This case scenario places project managers in unflattering situations while more unpredicted problems jeopardize the workflow. Interconnected and combined tech solutions are said to be working the best in favor of the workflow in construction. The first step is coming up with a customized strategy for tech adoption and digitization tailored to suit the type of projects the company is working on.
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