AI in Construction - Strategic Intelligence

AI in Construction - Strategic Intelligence

Summary

The construction industry has been slower than other sectors in implementing AI as it is one of the least digitalized industries. However, construction companies are increasingly investing in AI technologies to improve their environmental, social, and governance (ESG) credentials, boost productivity and safety, and address supply chain disruptions and labor shortages.

Key Highlights

• For decades, artificial intelligence (AI) was the domain of university and corporate R&D labs. Recent progress in machine learning (ML) on the back of improved algorithms (e.g., Google’s AlphaGo, OpenAI’s GPT-3) and increasing computing power have enabled AI to solve real-life problems. GlobalData estimates the total AI market will be worth $1 trillion by 2030, up from $103 billion in 2023 at a compound annual growth rate of 39%.
• The construction industry has been slower than other sectors in implementing AI as it is one of the least digitalized industries. However, construction companies are increasingly investing in AI technologies to improve their environmental, social, and governance (ESG) credentials, boost productivity and safety, and address supply chain disruptions and labor shortages.

Scope

• This report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.
• This report covers the AI theme.

Reasons to Buy

• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
• Develop and design your corporate strategies through an in-house expert analysis of artificial intelligence by understanding the primary ways in which this theme is impacting the construction industry.
• Stay up to date on the industry’s major players and where they sit in the value chain.
• Identify emerging industry trends to gain a competitive advantage.