As the light shines brighter on construction technology companies, it has become evident we are in a period of change in the industry. Equipment is getting smarter and rental companies are now able to do more with less.
Technology is rapidly changing how we design and construct the built environment. It's allowed us to build stronger, taller, and more energy efficient structures. Technology has made construction sites safer and workers more efficient. It has allowed us to increase productivity, improve collaboration, and tackle more complex projects.
Learn how we can help you.
Artificial intelligence (AI) is all the rage these days. We use it daily in everything from voice assistants like Siri and Alexa, Facebook’s image recognition software, Google’s search engines, and getting recommendations on what to buy from Amazon and what to watch on Netflix.
Construction has been one of the slowest industries to adopt technology. That’s partly cultural—folks in the industry like to solve problems with their own ingenuity. Many firms are still family owned, and there’s still a lot of reverence for tradition. Finally, this is an industry with thin margins, where the first funding priorities are equipment and personnel.
Contractors are increasingly adopting new technologies to give themselves an edge over the competition. According to a recent study from USG Corp. and the U.S. Chamber of Commerce, 74% of contractors expect to adopt advanced technology within the next three years. The majority of them are doing so to increase labor productivity.
The Internet of Things (IoT) has incredible implications for the field of construction. It's already proven its value in health care, manufacturing, transportation, and other industries where automation and systems management are critical. With its many applications, it has the potential to improve productivity and safety on jobsites.