Over the last decade, the world has seen a surge in new technologies that has transformed many industries. Company owners and employers of all labour sectors were encouraged to adapt their knowledge to these fast-moving changes that are deeply impacting our lives.
Even though innovation has been slower in the construction industry if we compare it with other fields it’s undeniable that there have been some significant changes that are affecting the whole process from the design and planning stage, with the presence of improved software, to the use of different building materials and more efficient construction methods.
We can then expect that the construction industry will overcome significant changes that will affect the sector as we currently know it. The Innovation: 2050 Report from Balfour Beatty looked at five predictions for innovation that are interesting to keep in mind: –
- The industry will become more agile and increasingly focused on innovation.
Well-known technology companies will partnership with construction businesses. This will lead to a future in which both contractors and customers will become less risk-averse.
- The sector will need a more spirited workforce with new skills. New jobs will be created and others will disappear.
The sector will need a more skilled workforce and some jobs – especially those relaying on repetition of tasks – will likely disappear. As artificial intelligence continues to gain ground, many fear that human labour could be negatively impacted. On the contrary, more technology could simply mean more job opportunities, as the industry will need people trained with new skills to maintain technically advanced infrastructures.
- Regulatory systems must be ready for the change.
New technologies are usually a synonym of new regulatory frameworks that are required. Countries around the world will need to embrace and adapt to innovations as they appear. Policy makers will also have to skill up and ensure that they are providing policies adapted to this technology revolution.
- Huge amounts of data will make it possible to be more efficient.
Now it is possible, through a network of drones, to collect more and better data which should help with earlier detention of construction defects and to find better solutions and improve monitoring.
- New building construction materials.
Construction materials constitute a large part of project costs. Therefore, it becomes necessary that materials are used more efficiently. Some constructors and developers are already promoting the usage of eco-friendlier and energy efficient materials and it’s expected that others will follow their steps.
The research findings show that as the industry continues to embrace robotics, innovation, automation and new materials, it will emerge a safer and efficient construction industry increasingly focused on innovation.
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Anyone engaged in a building project or managing a portfolio of new-build properties that require mortgages, will require a 10-year structural insurance policy on the property. CRL recognises that every opportunity is different, there are no tick boxes and no set criteria – just an appetite for adventure!