What are the similarities between a pickup truck, a nail gun, a portable circular saw, a cement mixer truck, and a modern hydraulic excavator?
The apparent explanation is that they’re all typical tools and equipment on today’s building sites. Another acceptable response is that these are all examples of construction techniques that were not available 100 years ago.
Consider what a construction site would be like today if it didn’t have construction technology. We’d have to cut boards and drill holes by hand if we didn’t have power equipment. Laborers would have to excavate areas and dig trenches with shovels and pickaxes if heavy equipment wasn’t available. Buildings would only be a few stores tall if they didn’t have elevators.
New building technologies are being created at a dizzying speed today. Connected equipment and tools, telematics, mobile apps, autonomous heavy equipment, drones, robots, augmented and virtual reality, and 3D printed buildings, which looked futuristic 10, 20 years ago, are nowhere and being deployed and used on job sites all over the world.
Data is now being used by construction companies to make better decisions, increase productivity, improve job site safety, and lower risks. Firms can use artificial intelligence (AI) and machine learning systems to forecast future project outcomes and gain a competitive advantage when estimating and bidding on construction projects by using the mountains of data they’ve accumulated over the years on projects.
Wrapping up, construction companies are beginning to embrace technology. Companies that develop and use construction technology gain the benefits of enhanced productivity, improved teamwork, and on-time and under-budget project completion, resulting in higher profit margins.
It’s a bitter pill to swallow, but we’ve reached a stage where companies that don’t invest in new technologies and solutions are losing ground to those that deliberately adopt and execute tech solutions. Construction companies that refuse to innovate are doomed to fail.