The challenges facing the construction sector seem to be evolving. Right from segmented data to dispersed stakeholders, a constrained workforce to the growing demands for performance from project owners, some challenges are old and others new. Making it more complex is the fact that profit margins are under pressure, plus the presence of bid award inconsistencies, and scheduling inefficiencies.
The only way construction companies can overcome these challenges while optimizing assets, improving quality and delivering large-scale projects on time, every time is by embracing modern technological innovations that have the potential to transform the industry.
Modern technologies can unify and optimize crucial processes across the construction business, including planning and design, accounting, project management, HR, and payroll. They can also provide decision-makers fast access to real-time data, calculate problems before they occur, and minimize errors and improve efficiencies via automated workflows and integrations. These technologies can also help construction companies evaluate the effectiveness of solutions, monitor risks, and make every project a sustainable hit.
Here are 5 technologies that are poised to bring about a much-needed transformation across the construction sector:
- Analytics: Construction companies struggling to derive the most optimal outcomes from their daily operations can embrace analytics to save time and improve productivity. They can use construction-specific tech tools to analyze data shared between project managers, superintendents, subcontractors, and developers while also gaining real-time insights on bid tracking, proposals, cost tracking, estimates, and more. Analytics can also help in establishing a strong foundation of preventative maintenance, allowing companies to proactively address issues with assets and infrastructure early – thus safeguarding the safety of their workforce, empowering better decisions, and delivering projects on time.
- Digital Twins: Incorporating digital representations of the physical and functional aspects of building management via digital twins is a great way to fuel better collaboration in the design of construction projects. Modern BIM tools can streamline the estimation, planning, and scheduling processes and create a visual representation before the actual construction lifecycle kicks off so each phase can be planned with precision.
- Automation: As unpredictable weather, communication gaps, and tough delivery deadlines plague the construction industry, automation paves the way for seamless integration between the office and the field. By automating basic construction tasks and eliminating manual processing errors, you can optimize your assets and free up workers for more strategic projects. You can also automate subcontract management processes and enable easy scheduling and dispatching, instant communication, document management, time tracking, project assigning, and invoicing – and streamline all dealings with your subcontractors for quicker and more efficient results.
- IoT: IoT makes it easy for construction companies to keep an eye on every detail from the field in real-time – from tracking logged hours to getting visibility into assigned tasks and alerting stakeholders within seconds. With IoT, you capture real-time information on what’s happening and increase the quality of construction and the safety of your workers. IoT wearables with fitted biometrics and environmental sensors, GPS and location trackers can monitor workers’ movements in real-time and alert them about possible slips and falls. They can also track workers’ heart rates, body temperatures and other vital signs and immediately notify them or their managers for quick action. Using sensors and other IoT technology, companies can also stay ahead of all their data, constantly process it, and learn from it to boost construction efficiency.
- AI: Another technology that will completely transform the construction and EPC industries is AI. A variety of use-cases is emerging. Using AI, you can efficiently monitor equipment usage and get real-time insight into vendor invoices, workforce data as well as project scheduling, and make strategic, evidence-based decisions on choice of field equipment. AI also allows you to gain greater control of equipment allocation and usage while allowing you to improve utilization by receiving timely alerts on upcoming maintenance, repairs, and upkeep. You can also use AI to track your compliance requirements, store documents, and submit reports with greater efficiency.
Construction company stakeholders need to don several hats at the same time: they need to efficiently assign and monitor tasks, track time and material in real-time across multiple locations, and automate mundane, repetitive tasks to improve productivity – all while meeting the required quality, cost, and time expectations. They also need to monitor worksite safety, enable cross-departmental communication and access, and create smoother and more efficient processes. The only way they can achieve all this and more is by partnering with a skilled expert who can help deliver large, complex products with ease and efficiency by implementing modern technologies like analytics, digital twins, automation, IoT and AI. deliver large, complex products.