New York, city and state, has been put forth as a bell weather location for construction. What happens in Las Vegas may stay there; what happens in New York gets treated like it represents the whole of the country. As such a critical part of the construction ecosystem, New York gets put under a microscope, analyzed in granular detail.
The cloud covers just about everything these days but in many cases, it lets the light shine through. For example, Washington State’s Peninsula Light Co., (PenLight) will be updating its power distribution system with Verizon’s Grid Wide Utility Services Intelligent Energy platform. Grid Wide is a managed, cloud-based, IoT (Internet of Things) platform-as-a-service developed by Verizon to help utilities modernize their systems. It allows utilities to remotely configure, monitor, and manage endpoints within their service areas, creating operational efficiencies and improving customer service.
Estimating a job is difficult and gets even harder when there are multiple factors and vendors involved. Making the process easier can improve both the time to contract and the accuracy of the estimate. Simplifying the estimating process, therefore, can benefit the contractor and the client.
With the rise of the IoT (Internet of Things) and AI (artificial intelligence), construction companies have big opportunities to leverage emerging technologies, but with it comes the need to keep the data secure. Cybersecurity needs to be continuously measured, reported, and mitigated.
Can machines help construction professionals think better? A recently released study by Bentley Systems implies many in the industry do not believe so—or, at the very least, their actions suggest they don’t. Of the 720 construction business professionals surveyed, just shy of half (44.3%) of the respondents in Bentley’s survey say they have limited or no insight into company or project performance. However, 45.2% say they do recognize the importance of collecting project data, they’re just not doing it or making the most of it.
Smart cities are on the rise across the globe, as a result of increasing urbanization and the need to provide citizens with new technology, while also improving quality of life, addressing aging infrastructure, and a renewed focus on environmental sustainability.
Often construction CIOs and executives are leery of “shiny” toys that offer glitz, glam, and a lot of hype, but little tangible benefits and ROI (return on investment). Do drones fall in this category, or are they beginning to offer true benefits to construction beyond the cool factor?
In the past five years, the amount of investment in construction-technology companies continues to rise, as investors look at this market as one that is ripe for innovation. In an industry that needs solutions to complete complex projects in a quicker timeline, technology could be the solution, and investors recognize this.