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In a construction industry where the future is inherently unpredictable, a constant influx of new innovations keeps contractors constantly on their toes. This constant flux means that it’s important to keep up with trends and advancements so that you can remain competitive in your field.
In 2023, tech will play a key role in helping contractors work smarter and more efficiently. But it’s crucial to use technology with intention.
1. Artificial Intelligence
Whether it’s recommendations for books, movies and music or chatbots that provide answers to your questions, AI is increasingly being used across a variety of industries. It’s a technology that uses algorithms to learn more about you and your preferences so it can recommend things that are relevant to your needs.
Artificial intelligence is also a popular tool for data analytics. It tirelessly sorts through pages of documents to find trends and patterns that it can use to predict future events and outcomes.
As it continues to evolve, AI offers a number of potential benefits for the general contractor industry in 2023. Leaders need to determine how AI can help their firm, and then prioritize investments based on business needs.
Robotics is the science of programming machines to perform tasks that humans cannot do. From the depths of our oceans to the heights of outer space, robots are performing tasks that humans would have never dreamed of.
This field of technology has many applications in industries ranging from manufacturing and military operations to home security and the healthcare industry. It is also used in research and development, helping to advance products from the lab to the market.
The industry is evolving quickly and companies are pursuing different strategies. Some focus on application play, where they develop robotic systems for a specific customer segment or group of customers, while others double down on their existing industrial product production to become low-cost manufacturers and application providers.
Automation is the process of using technology to improve the efficiency, reliability and speed of many tasks. It can include business process automation (BPA) and robotic process automation (RPA).
Automated processes can reduce the cost and time required for a variety of repetitive, administrative tasks. It can also help businesses expand their capabilities, meet new client demands or increase service offerings.
However, automation can also be a threat to employment, especially in industries that have long relied on labor. In fact, some experts believe that the number of jobs lost to automation could outweigh the benefits.
Cybersecurity is a critical issue for general contractors as they rely on technology to conduct business. A breach or other security incident can cause significant disruption and losses.
In many cases, cyber attacks are started by insiders who have access to sensitive data. Depending on the type of information, this could include personal information, financial records and other important business information.
The Defense Department has recognized the need to tighten cybersecurity across its vast contracting operations. It has created a unified cybersecurity standard for defense contractors. In addition, it has released a new certification model that will force contractors to prove they have met certain baseline cybersecurity requirements before doing business with the government.
5. Data Analytics
Data analytics can be a critical component of enhancing project delivery in any industry. This type of analysis enables companies to predict future issues and mitigate them before they occur.
Data analysis can also be used to track the behavior of customers and their buying habits. This helps businesses identify which products they are most likely to buy or how they can increase their sales.
This type of data analytics can be very beneficial to construction firms because it gives them a clear view into the future, so they can make better plans for their operations. They can also anticipate problems in the supply chain, which may be causing production delays or bottlenecks.