Construction News, UK: Cognizant’s Senior Director of Engineering Construction and Operations Says That With the Construction Industry Ripe for Significant Digital Disruption, Firms Must Adopt Smart Technologies to Increase Market Share

“By 2025, an astronomical $78 trillion is expected to be spent on global infrastructure investments,” writes Joe Campbell. “While this sounds like good news for the construction, engineering and operations industry, many companies are plagued by issues such as increasing competition, labor shortages, high operating costs and supply chain fragmentation, which is stunting growth and the ability to cope with increased demand.” Excerpts:

“Leading firms are planning ahead, even though the industry as a whole has sometimes been regarded as slow to adopt and use new processes and technologies.

As long-term asset construction projects and facility management contracts come to an end, there will be those companies prepared for the new digitized era and those that may struggle to keep up.

To remain competitive in the digital construction era, the adoption of technologies that break down the traditional silos of design, engineering, construction and operations is crucial, making way for more collaborative and efficient ways of working.

The key technology enablers for this transformation are Building Information Modelling (BIM), Internet of things (IoT) and Big Data.

By collecting and analyzing structural data on one platform, companies can manage the complete end-to-end lifecycle of a building, opening up new opportunities for organizations to streamline efficiencies, improve operations, offer additional services and, importantly, remain competitive.

Firms need to ensure they have the ability to not only integrate them, but also encourage employee adoption to make them truly effective.

With the construction industry ripe for significant digital disruption, failure to adopt new technologies will put many companies at a disadvantage.

Firms should look to adopt smarter technologies and better process models now to enhance productivity and increase their market share.”

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