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The construction industry has traditionally been slow to adapt to new technologies, but recent developments in artificial intelligence (AI) are changing that. Lower digital enablement costs, staffing difficulties, and increased business complexity are all disrupting the industry, and AI is seen as the leading solution. AI is revolutionizing the industry, the challenges it poses, and how advancements in subsets of AI cater to construction concerns.
The construction industry is being disrupted by emerging technologies. Traditional methods of construction management are no longer adequate, resulting in a need for advanced digital solutions. The cost of digital enablement is now lower than ever before, and labor shortage issues have made it challenging for the industry to operate traditionally. Most significantly, increasing business complexity has made it practically impossible to manage construction projects with traditional methods. These factors have brought in the need for AI and other emerging technologies.
Digital automation in construction has already increased operational efficiency, leading to cost savings and increased revenue. However, there is a significant challenge in converting data produced by automation into concrete action. Specialized subsets of AI can solve this problem and cater to the construction industry's unique demands. Natural Language Processing (NLP) can automate project management tasks such as scheduling and communication, while Intelligent Imaging can automate inspection tasks and reduce the need for human involvement in hazardous environments.
The construction process could be completely transformed with the use of AI technology. Construction companies that adopt AI systems can benefit from increased accuracy and reduced errors. There is also the potential for repurposing or creating new value-add job positions that require human cognition instead of repetitive workflows. By monitoring and responding to information in real-time, owners, designers, and general contractors can guide the construction process efficiently and accurately.
As the construction industry moves toward a future of increased automation and AI application, companies must prepare for the next digital frontier. They must be forward-thinking and open to new technologies, invest in employee education and training, and form partnerships with AI service providers who can help them make the most of this technology. It's important to note that AI is not a substitute for human labor, but rather a complementary tool that can enhance the construction process.
The potential benefits of AI in construction are limitless. This technology can be applied from the planning stage through the construction process and asset operation. Adopting AI in construction can lead to reduced errors, increased accuracy, and efficiency. Such adoption also presents an opportunity to repurpose redundant human tasks and create new value-added positions requiring human cognition. As AI takes over the construction industry, increased preparation, and strategic planning will pave the way towards success.
At CoreTech, we understand that purchasing equipment and technology requires a large cash outlay and limits flexibility in pursuing other business investments. Leasing is a budget-friendly option, as it requires little or no investments up-front. For more information, contact info@coretechleasing.com today to get in touch!