The opportunities and challenges of these trends are numerous, and they are changing the construction industry drastically. Automation is one such trend. Modular construction is another. Data-driven business models are another. And, of course, there are Gen Z workers who are the next generation of construction workers. All of these trends are affecting construction businesses. So, how do you capitalize on these trends? Below are some suggestions.
While the majority of customers create and design buildings, automation opportunities are largely limited to the physical process. Many architects and construction firms consider their projects like snowflakes, starting from scratch. This is inefficient and does not create the foundation for effective automation. In addition to physical automation, the construction industry can also benefit from digitization and artificial intelligence. For example, building information modelling can help automate the planning process. And in the future, robots could help complete tasks without a human being. One of the biggest challenges is the lack of demand for robots and other automated systems. These systems have limited customization options and insufficient flexibility in the construction industry, where each project is unique. In addition, prefabricated building components have a higher capital cost and little evidence that they will reduce construction costs. Therefore, this technology is far from becoming common in construction. And while robots and automation technologies may save a few dollars in the long run, it is not always the right solution for every project. The growing sophistication and affordability of 3D printers have facilitated the increased use of modular construction. Speed is critical as customers are increasingly impatient with long construction schedules. Modular construction is estimated to be worth $100 billion a year and is predicted to grow at a rate of 6% annually until 2023. In the meantime, modular construction offers many advantages over traditional construction methods. In fact, the modular industry is already worth over $100 billion a year, and the number of projects that use it is projected to grow by more than 6% each year until 2023. Katerra, a promising startup, is a prime example of a company that is working to transform the construction industry by prefabrication. Katerra manufactures building parts in its facilities and then ships them to job sites, where developers assemble them. Currently, the company focuses on the residential real estate market, but it is expected to expand to other sectors over time, including offices, retail stores, and healthcare facilities. Companies are collecting vast amounts of data. Today, the world generates 2.5 quintillion bytes of data per day. By utilizing these data sets, leading companies are creating better products, better serving their customers, and maximizing ROI. But many companies are still using data only part of the way, wasting time and money on ineffective planning and modelling. But there is hope for companies that use data to their advantage. When designing a data-driven service business model, small and medium-sized businesses need to start by thinking about how they can create value. After all, the data they generate could belong to someone else. It is therefore imperative to identify a value proposition that makes sense to the customer and to the company. The next step is to determine the kind of data you plan to collect. This should include identifying what the data is about and who owns it. To recruit the next generation of workers, construction companies need to find new ways to appeal to this group of students. Because most of the Generation Z decides who they want to work for during high school, reaching out to them early and showing them what a construction career entails is essential. The generation wants to be financially stable and have career security, but it is also eager to keep growing and improving. Employers need to adapt to the changing needs of this generation, which will be the largest group in the U.S. by 2019. Gen Z members who are just beginning college are often told they lack social skills. Yet these skills are essential in almost any profession, including architecture and engineering firms. In fact, relationships between colleagues and clients are essential to the future of any construction business. As the world changes faster than ever, employers must develop strong "Plan Z" for this new generation of workers. Fortunately, technology and strategic planning are helping to address these issues. With these new ways to recruit the Generation Z workforce, construction companies can take advantage of emerging technologies and build a stronger presence in this new age of workers. The COVID-19 epidemic has impacted the construction industry in more ways than one. First, it has refocused the industry's focus on worker health and safety. As a result, U.S. construction companies are implementing new policies on their jobsites, including staggered shifts, temperature checks for employees, and top-to-bottom disinfection. Secondly, a larger number of construction companies are implementing cybersecurity measures to protect themselves and their workforces. Finally, proactive construction firms are taking legal measures to protect themselves against a potential pandemic. Although engineering and construction companies have experienced cyclical downturns in the past, the COVID-19 crisis has been especially severe. While it has affected many other industries, construction has the potential to spur the recovery and create jobs. Recovery measures are needed to help the sector transform towards digitalization and sustainability. To support this, tripartite cooperation and social dialogue are essential. And in order to ensure that a human-centred recovery is facilitated, international labour standards are key. The era of public works funding has been unpredictable, and the pandemic has increased the unpredictability of construction costs. Contractors have also been forced to adjust prices of wood and metals. For those just starting out in public work, the best way to succeed is to absorb diverse perspectives, ask thoughtful questions, push your design intent, and find a mentor. In the meantime, take some time to find a good balance between the two.
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