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News June 14, 2018

Embracing technology in construction

Construction is the second-least digitized economic sector but embracing technology could save industry businesses 12 to 20 percent annually, according to www.constructiondive.com.

According to the World Economic Forum's "Shaping the Future of Construction: Future Scenarios and Implications for the Industry" report, the use of 3-D digital models through BIM applications is common in the U.S.; 72 percent of construction firms are thought to use such technology. The models offer increased visibility into projects to help designers, engineers and contractors catch mistakes sooner, eliminating the need for costly reworks once construction has started.

The report revealed 61 percent of CEOs consider adopting technology at scale to be imperative. To effectively integrate technology such as virtual reality, robotics, prefabrications and sustainable methods, companies need to create data-centric business models, study market developments and implement change management programs.

Using technology in recruitment and training also can help attract and retain young workers, decreasing the skilled labor shortage and helping lay the groundwork for the construction industry to become digitized.

By promoting technologies being used and increasing investment in additional research and development, the construction industry can begin ascending from the bottom of the technology ladder.

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