How technology impacts the construction industry

Technology impacts the construction industry

How technology impacts the construction industry

Not only in the field of electronics or communication. But technology is also a tool that can be used in practically any field. We tell you how technology impacts the construction industry.

Had you imagined that construction could have an intimate relationship with technology? You see, the use of platforms is essential for the planning and execution of projects.

Going a little further to the foundations or origin of work – for specialists in the field – technology is essential because it directly affects the retention of project collaborators. It is also related to the rate of acceptance of job offers, as well as the speed of the incorporation of new employees.

Technology is one of the great democratizers of the workforce, as it allows access to tools without distinction and new solutions.

The Impact Of The Use Of Technology In Construction

Construction industry and technology impacts

In the words of Luis Miguel Herrera, business director of Procore Latin America, “having the right technology in the sector not only allows the development of projects to be up to what the industry demands but also supports the work of the workforce and will allow them to develop and enhance their skills to face the challenges and take advantage of the opportunities to come.

Using digital platforms properly has an impact on the time spent, as well as on the sustainability of the projects and the development of its collaborators.

Unfortunately, it has not been used as it should or could be, perhaps due to a lack of knowledge or use of these tools. But, if companies had the notion that with these platforms they could save time, and costs and keep teams agile, the interest in these would undoubtedly increase, according to the perception of the business specialist.

Exceeded Times And Budgets

According to data from the global strategic consulting firm McKinsey, ‘Imagining construction’s digital future’, typical construction projects, that is, without the use of technological programs, exceed 80% of the budget and involve some 20 months of delay.

According to a report by the International Monetary Fund (IMF), employees usually spend 35% of their time on tasks that are not optimal, due to the fact that they do not have the appropriate technological solutions or tools to carry out their work.

Time Is Money

On the other hand, the annual growth of productivity in the last 20 years was only one-third of the average of the economy. Thus, all these factors are reflected in dissatisfied customers.

Procore ‘s ‘Achieving a Good Return on Investment in Construction Technology 2021’ report reports that with a cloud data management platform, 11 days were saved per project.

Time To Recover

Despite the fact that the last few months have been critical for many sectors due to the pandemic and many construction projects have been paused or canceled, it is time to resurface.

According to data from the National Survey of Construction Companies (ENEC) of the National Institute of Statistics and Geography (Inegi), the construction industry had its best month in March 2021 since the start of the health crisis; so if entrepreneurs have a mentality focused on accelerated growth, technological tools will surely be considered in their plans.

It would be obvious to emphasize that the use of connected platforms would reduce expenses. Speed up times and optimize results. However, this is not the case because the construction industry has not incorporated these useful tools.

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