I spent two days at IBS (Intl. Builders Show) walking the show floor, meeting with tech experts, and writing about homebuilders that are doing something innovative with new technologies. The buzz phrases were very much the IoT (Internet of Things) and AI (artificial intelligence), although I am not sure the industry as a whole truly understands how this will impact the residential market in 2018 and beyond.
For those of you who read my blog last week, you know that I suggested that technology can help in myriad ways including helping to solve the construction labor crisis. This week I want to explore this a bit further, diving a bit into a study I came across at the end of last year.
Oracle Corp., added yet another tech firm to its construction war chest with the recent announcement that it was planning to acquire Melbourne, Australia-based Aconex, a cloud-platform tool, for $1.19 billion. The news, which came in late December, was really no surprise as Oracle has been on a mission to stake an even stronger claim in the construction marketplace, having made earlier acquisitions of Textura in April 2016, Skire in July 2012, Primavera October 2008, and PeopleSoft in January 2005.
When it comes to digital transformation, the construction industry is unique. As many of our readers know, the AEC (architecture, engineering, and construction) industry is typically delivered by groups of contractors and subcontractors working in a collaborative environment. This creates complex workflows, and can make the digital transformation more challenging than other industries.
In the past few years, the construction industry has seen an infusion of funds from investors aimed specifically at helping innovative startups grow business in the construction industry. It seems this trend continues to gain even greater momentum, as two startups raised funding in the month of November alone.
Are you building your construction projects with millennials in mind? If not, you should, as this generation is now playing a big role in determining how spaces look—and the technology inside them.
The use of VR (virtual reality) in construction is on the rise. However, what is the overall sentiment of the use of the technology in business? One new survey gives some insight.
Smart cities can help connect citizens to the services they need. However, the challenge I have noticed is that constructing these intelligent municipalities is no easy feat. It requires funding, collaboration, and a little bit of creativity.
There has been a lot of talk lately about how prefabrication and modular will transform construction—so much so that patents are beginning to emerge that will change the way work is done in the industry in the future.