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Why Tech Led Solutions Are Becoming Necessary For Construction Industry

Advancement of technology has enabled the industry to further personalize the customer experience at every touchpoint.

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‘Technology Makes the World a New Place’, said renowned American author and scholar, Shoshana Zuboff. Yes, technology has changed the world and it has changed the way the construction industry operates today. Advancement of technology has enabled the industry to further personalize the customer experience at every touchpoint.

Construction companies, across the globe, are utilizing technology to improve their customer experience. The latest advancements have benefited the industry in innumerable ways, it helped in increasing operational efficiency, reduce overhead costs, and projects are handled more efficiently. Additionally, the latest tech devices and software programs allow management teams to better keep track of projects, developers, and workers/laborers remotely. Rapid adaptation of technology in the industry has also led to safer and more efficient job sites, reduced costs, faster job completion, and increased profits.

Today, the role of technology has changed from being a source of marginal efficiency gains to becoming the foundation for transformation. Also, increasingly companies are recognizing the need to innovate both to stay ahead of competitors and to prevent the disruption of established business models by ambitious and responsive natives. With the growing number of positive results from high-profile, large-scale construction and infrastructure projects, even the techno doubters of the industry are seeing dramatic improvements and are adapting to change. In the last couple of years, many new and emerging technologies have made a major impact on the construction industry. Technological innovations are seeping into the industry, alongside new advances that benefit every area of the industry. Tech is making construction safer and more efficient.

Technologies like Augmented and virtual reality, unmanned aerial vehicles, and the use of Artificial intelligence (AI) in construction and app-based platforms are gaining huge momentum today. According to a Mckinsey report released last year, AI and Machine Learning (ML) will have a predominant role to play in the way the construction industry operates. AI can be used in risk mitigation, reaching out to the real estate developers and laborers, project planning, and support in off-site construction. Also, the adaptation of 3D modeling and BIM in construction is a key driver of digitalization, moving it away from paper-based drawings to the virtual domain. The Building Information Modeling (BIM) is already an advanced 3D modeling technique used in construction across India and globally.

In the same way, workers could get exposure to environments such as confined spaces or working at height in a safe, controlled environment with the help of virtual reality (VR) and augmented reality (AR) is another technology that can greatly improve safety

on the construction sites. There are several ways that AR can be deployed on construction sites.

In India, labor shortages in the construction industry remain significant and prevalent. Various construction companies report having a tough time filling hourly craft positions, skilled workforce and this is where technology can help bridge the gap between general contractors/project developers, migrant labor, contractors & specialized vendors via construction tech platforms, and this trend will only accelerate in the coming days.

The time is right to invest in tech-solutions especially in growing major economies like India where internet data and access to smartphones to the country's common population is increasing so rapidly!

Since much of the actual construction process is done in the field, mobile devices and tablets will play a key role here especially when it comes to digitization and standardization! As more of the construction process is standardized, it becomes easier to scale up the goods and services and scale down the costs.

In today’s construction market, there’s little doubt that technology holds transformative power and the industry is counting on technology to help solve its labor shortage, improve worker safety, strengthen risk management, and boost efficiency and productivity. Technology has evolved rapidly in the last few years, bringing massive changes to the construction industry but despite the important sectoral transformation already experienced, the pace of technological development is still accelerating. The greatest changes across the construction industry are still to be unleashed.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

Asutosh Katyal

The author is Founder and CEO, CapTech Technologies

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