Artificial Intelligence
Artificial intelligence (AI) can help boost productivity. Machine learning helps scrutinize massive amounts of data and elevates critical issues to project managers. Artificial neural networks can keep large projects on budget by predicting potential cost overruns. AI also can give safety an upgrade, using tools like SmartVid.io to automatically detect safety hazards and speedily capture field observations. And, when fully automated equipment becomes a reality, 5G bandwidth will be a necessity.
Speedy VR Visualization
It’s easier than ever to develop 360-degree visualizations that help clients envision a project before it begins and track it during construction. Digital files are easily shared among members of the full project team, reducing the need for travel and enabling faster decision-making. InstaVR offers a web-based tool that makes developing interactive virtual reality (VR) applications a speedier, easier process — even for users with no coding experience.
Building Tech Funding
Venture capitalists are betting big on technology in construction. According to Crunchbase, construction tech startups raised upward of $1.3 billion in 2018, an increase of roughly 130% over the previous year. Companies such as Autodesk and Trimble also spent billions to acquire construction tech startups. While funding in 2019 might not match those soaring numbers, the emerging reliance on tech in construction should keep the investment money flowing.
Data-Driven Delivery
Data analytics is driving the future of business intelligence in the construction industry. New tech tools and processes are helping interpret large amounts of data for meaningful implementation. Wide-ranging software options analyze data to help improve safety, efficiency and quality. With these tools, contractors can forecast markets, reduce risk, increase safety, improve workflows, identify opportunities for automation, reduce waste and more.
3D Printing
Though 3D-printed buildings were once hailed as a revolution for the built industry, the uptake for this type of use has been slow. Why? Along with regulatory challenges, such construction requires large-scale printers, which are scarce and expensive; cost and speed factors also need enhancement. But the tipping point might be arriving, courtesy of the military sector. As reported in Fast Company, the U.S. Marine Corps is exploring the technology to rethink how emergency housing and infrastructure is built, printing a 500-square-foot concrete barracks hut.
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