The global construction industry is gearing for massive changes and challenges, compelling Middle East companies to adopt new technologies or fall behind. “There is no stopping the megatrend towards digitisation,” according to Mibu John, Partner & Managing Director Ventures Middle East, a leading management consulting and research company in the Middle East. “Companies who move early to develop and implement their own digitisation strategy will be the winners as the construction industry goes digital. Otherwise, lack of expertise in new technologies could become a serious competitive drawback.”
Modern construction companies are under increasing pressure to ensure timely delivery amongst costly challenges like delays, overspending and shortages of skilled labour. With new technologies like Artificial Intelligence, 3D printing, Building Information Modeling (BIM), IOT (Internet of things), and cloud-based solutions to manage the surge of Big Data in construction, the challenges now plaguing the construction industry could soon become less relevant.
“Undoubtedly, adopting these new technologies in construction will improve predictability, speed of delivery, environmental sustainability, design freedom and reduce manpower cost. However, these new technologies need to be supported by compatible tools that connect systems at every link in the value chain, and conditions need to be established that enable the technological revolution in construction at scale.”
Producers who don’t provide tech compatible products and information will fall behind. Construction companies must be prepared to manage Big Data as buried under piles of data can be invaluable information that can lead to new business models or services.
Commenting on the future trends, Sassan Hatam, Partner at Roland Berger, a global strategy consulting firm, said: “Construction firms of the future will use digital tools to have materials supplied just in time, thereby cutting the cost of storage and transportation and increasing efficiency. “They will source materials with electronic portals and, in so doing, optimise not only their prices but also their collaboration with suppliers. In production, building suppliers will deploy smart machinery and applications that forge networks in which all production processes are planned in advance and operated with optimal efficiency.”
The Construction Technology Forum 2018, taking place during September 24-25, 2018 in Dubai, is designed to provide insights on how adopting technology can reduce operational costs, boost productivity and enhance overall quality across all elements of the industry supply-chain.
Oman Observer is now on the WhatsApp channel. Click here
