How will the increased usage of Artificial Intelligence (AI) impact the construction industry?
To understand the permeation of technology in any industry, analyze what it means to the different market players. For example, using AI could mean good, clean commercial construction leads. But, on the other hand, it could also mean categorizing and analyzing piles of data or even automation that eliminates the need for construction workers.
The applications are numerous, and depending on whom you ask, the impact could be good or bad.
The changes in the last decade and the steady but sure shift to automation have improved efficiency across the construction industry. Human error has been reduced, and the job market has shrunk, but AI is still too new despite these changes. At this time, the long-term impact of AI technologies cannot be gauged precisely.
The most significant impact has been in dangerous industries where worker safety has always been a prime concern. Industrial construction standards are easier to comply with a machine at risk instead of a human. As a result, the overall efficiency in different manufacturing units has improved. More companies meet labor needs intelligently without putting their human workers at risk.
A Game Changer
A study published by “MckinSey and Company” has regarded the use of AI in the construction industry as a “new frontier” for the industry. The study admits a long way to go before the widespread use of AI is made possible, but the potential future is not to be ignored. Construction companies that don’t implement AI-oriented solutions will be left behind. The efficiency of these systems has become a game-changer.
Suppose competitive advantage is to be had and companies want to compete with new market entrants. In that case, they must improve efficiency and deliverables. AI is being used to manage data. The most significant contribution of AI has been mitigating risks, scheduling and preventing worker injuries.
Safety systems run by AI are better than their human counterparts at predicting, detecting and mitigating construction hazards. In addition, AI capabilities allow that monitoring is done so that supervisors are alerted before an issue becomes a significant problem.
Everything from potential financial loss, damage to systems and human injury is prevented by an AI system. AI is also being used to run worker safety drills for hypothetical scenarios; this helps ensure that their workers know how to react to emergencies. The overall safety of workers has improved due to the introduction of AI-implemented training programs.
Labor Crisis and AI
The last few decades have seen the labour force for construction shrinking substantially. The latest data released by Associated General Contractors of America (AGC) shows an alarming shrinkage rate in the construction Industry. On average, industry employment declines at a rate of 7% annually. Lousy weather and lower demand for residential projects in winters compound problems, and the unemployment in the sector hit a whopping 9.6%!
AI has the potential to address these issues.
To control the workforce shortage and talent crisis, AI can use existing datasets and make valuable inferences about the pool of workers. The right indicators can allow construction and engineering firms to make data-driven decisions about the quality of hires.
A Data Network for Future Planning
AI networks utilize data from every project you have done and learn patterns, efficiency issues, identify repetitive problems to improve overall efficiency and ultimately profits from a project. As a result, your portfolio can become more than just a showcase for your future clients. AI networks, analytics and systems can make future projects better and give you the best possible solution after running thousands of potential scenarios for your project.
Due to the potential implications of AI on those active in the construction industry’s employee market, fear and a general mistrust for the technology have been prevalent. However, more and more construction companies realize the value AI offers.