Here at Constructech we have been talking about how companies need to be open to new opportunities. Part of looking at this new juncture requires companies to be ready to pivot their businesses, amid the COVID-19 pandemic and make the right moves in order to protect their employees alongside of keeping their businesses humming. Naturally, we have been reporting how technology continues to be a critical tool to enable strong profitability alongside of key partnerships. With that being said, I was excited when I heard that factors are playing out in three big infrastructure organizations. Bentley Systems shared details at a recent press briefing and then Microsoft added to the news during its Build 2020 developer conference.
Is your company resilient? I think it is an important question to be asking right now. Resilience is the ability to adapt to changing conditions and to maintain or regain functionality and vitality in the face of stress or disturbance—something most companies are going through right now.
If you have been reading any of our blogs this year, then you know we have been reporting on sustainability trends long before coronavirus COVID-19 pandemic began to unfold in the United States. What’s most important though is that if anything positive has come out of the pandemic?
Here at Constructech we have been saying the current market is an opportunity—if you choose to look at it this way. Let’s look at one example: the smart home market. Homebuilders have been working fast and furious for the past decade, as the market has been pick-up speed after the crash of 2009. But what if builders could instead work “smarter?” We all know connected devices have proliferated our personal life. We wear smart watches to track our movement and have voice assistants to help us find information.
I recently came across a study that says the number of voice assistant devices in use will overtake the world population by 2024, reaching 8.4 billion. The number surprised me, even though I have been following the space, as we have been covering the topic of voice assistants here on Constructech and over on Connected World.
Let’s journey back to 2018 for a second—Dec. 13, 2018, to be exact. At that point, the economic outlook for construction was the strongest it has been in years. But economists I interviewed on Constructech TV agreed there was going to be a downturn in 2020. Given the length of what was the current economic expansion at the time, an economic downturn seemed almost predictable.
There is no question we have all been concerned about the impact of the coronavirus COVID-19 pandemic on the construction industry. So what exactly is the construction industry feeling about the impact the COVID-19 pandemic will have on its operations? That very question was recently part of an in-depth by Dodge Data & Analytics.
It’s time to get back to work—although work is going to look very different today, tomorrow, and even three months from now than it did last year. Let me remind you, safety hasn’t always been a core component on construction projects. If you look up photos from when the empire state building was being built, construction workers were hanging off the side of the building. Much has changed—and much will continue to change.