The construction industry is ripe for disruption, and these 6 technologies will be leading the charge, Thrive Global reports.
The real estate and construction industries might be considered stodgy by many standards. On average, companies in these industries re-invest less than 1 percent of revenue into research and development. Other industries invest between 3 percent to 8 percent in building new, technology-driven products, services, and business models focused on creating the future.
According to MJ Cootsona, corporate partnerships manager for Plug and Play’s Real Estate and Construction program, “This past year, the biggest companies in the industry have turned towards innovation as a focus. It’s now clear that if they don’t disrupt the space from within, they’ll miss opportunities and run the risk of being disrupted from new players, just like Airbnb transformed the hospitality space.” Six trends will transform the construction and real estate industries:
The site lists offsite construction, construction site robotics, A.I.-driven BIM, smart sensors for smart buildings, data analytics, and “space as a service” as the six major areas for disruption in the construction industry.