Why Is Artificial Intelligence So Important For the Construction Market? With an expected value of $12,526.4 billion or a growth of 9% in 2021, things are steadily looking up for the global construction industry. For any construction company to ride this growth wave, it needs to be agile and adopt technology in its planning and operations.
The construction sector continues to face many challenges such as worker productivity, safety, and skills shortages. The older ways of doing things will no longer work as issues become increasingly complex and difficult to address.
Artificial technology, or AI, can help the construction industry cope with these challenges. Here are several reasons why it is a must to leverage artificial intelligence in the construction industry today.
#1. AI keeps workers safe
Safety at the workplace is one of the most important priorities for any construction company. Every year, the total cost of construction injuries is over $11.5 billion, with fatal construction injuries making up more than 40% of that number. Of course, you cannot assign value to the diminished quality of life, especially the loss of life.
With a field of AI called computer vision, construction companies can secure visual construction data on-site, such as site photos and videos that gather relevant information. This data is then used to accurately analyze incidents, make thorough inspections, and manage site diaries. AI can also generate automatic alerts whenever any case of non-compliance is detected, such as not wearing the proper personal protective equipment or PPE. All this is done in real-time. So the persons concerned can make the correct recommendation and take the necessary action as soon as possible.
#2. AI improves productivity
AI also improves worker productivity by saving on time. For instance, AI can expedite the tendering process between clients/employees and bidding contractors. Machine learning can give an in-depth analysis of all the factors to be considered in a tender. These include materials, manpower, physical capacities of the plant, staff, subcontractors, and staff. AI efficiently scours the variables that impact on these factors, such as government regulations and economic conditions, and then comes up with predictive analyses of the risks of each tender. This way, construction companies can secure the best offer that matches their needs and objectives.
Aside from saving time, AI can support workers by assisting them in repetitive tasks. It is typical for a machine operator, for instance, to be assigned to several activities simultaneously. Robots can execute non-value-added tasks, freeing up the time and focus of construction personnel and diminishing error rates.
#3. AI addresses labor shortages
A prevalent concern in the construction industry is the shortage of physically able and skilled manpower. In fact, a whopping 70% of construction firms anticipate labor shortage to be their biggest concern in 2021.
AI can address this problem by enabling construction managers to make better work schedules and distribution plans for labor and machinery. Project schedule optimizers can process on-site data to assess for bottlenecks, undermanned tasks, and underutilized equipment. Equipped with
real-time information, construction managers and team leaders can deploy or reroute resources as needed. AI can also make recommendations on the most efficient work sequences.
Spot the Dog is a recent exciting AI project that can also diminish the impact of manpower shortage. The AI-powered robot can monitor work progress in remote locations, helping companies gain visibility and control in sites where labor is usually in short supply.
#4. AI brings down costs
Finance executives can highly appreciate how AI can improve profitability by primarily bringing down costs. An oversupply in inventory also costs money. With AI, better demand forecasts affect purchasing decisions that can better match requirements.
More and more construction companies are also using off-site prefabrication to bring down manufacturing costs. With AI, companies can also ensure that the production and transport of prefabrication materials are not dependent on weather, and therefore become more reliable and consistent. AI can use Building Information Modelling or BIM to create resource-efficient solutions for prefabrication processes to better match customers’ preferences.
Ai can streamline billing through invoice management software. This product enables the accountants of construction firms to produce billing statements with speed and accuracy. It also allows complete visibility of the billing process for all stakeholders.
#5. AI enhances post-construction work
Post-construction is the last stage in any building project. The final processes that occur, before turning over the entire project to the client. It’s the final check to ensure that everything is in order, from the final drawing to the operation manuals and requisite government certifications. AI facilitates the closeout phase by collecting all the information needed to trigger, complete, and gather the necessary paperwork.
AI tools can also immediately pinpoint any deviation between the built physical structure and the BIM model, so the required adjustments can readily be made.
Artificial intelligence is the future of the construction industry. It keeps the workplace safe, boosts productivity, addresses labor shortages, improves financial management, and facilitates post-construction work. Construction companies who want to remain competitive should seriously consider the role of AI in their work processes. And there’s no better time to do that than today.