Construction Today - Volume 16, Issue 2 - 23
2018 will be a year of digital disruption in construction. BY CHAD HOLLINGSWORTH
here's no denying construction's
impact on the U.S. economy. According to McKinsey Global Institute's
2015 Industry Digitization Index,
construction accounts for three percent of
GDP share and five percent of employment
share, yet it suffers negative productivity
growth. This is due in large part to its status
as the second least digitized U.S. industry.
Unsurprisingly, industries with the highest
rates of digitization experience the greatest
productivity growth, and unlike advanced
Construction has been slow
to adopt digital tools that
can boost efficiency.
manufacturing or utilities, for example, construction has been
slow to adopt the digital tools that have automated processes and
unlocked efficiency in other industries.
In the last 12 months, however, construction has undergone a
transformation, as increased building activity, growing attention on
our nation's infrastructure, and record investment shifted the industry's image, priorities and approach. Amidst the skilled labor shortage,
contractors are turning to new technologies to optimize their current
workforce and meet demand with the same - or fewer - resources.
In this new year, jobsite technology will be the norm, as contractors
embrace digital to stay competitive, and project leaders, crews and risk
managers come to expect real-time data at the worksite.
VOLUME 16, ISSUE 2 CONSTRUCTION-TODAY.COM