To keep you in the know this month, we’re sharing a roundup covering news and trends in the construction, mining, aggregates, and waste management industries.
As July wraps up and North American construction season is in full swing, we’ve been seeing a lot of talk about artificial intelligence. From how machine learning and the internet of things can improve how we construct things to how the industry lacks the infrastructure to implement it, AI is on everyone’s mind.
Here’s what you should know:
How Machine Learning is Improving Construction from Engineering.com
“The construction industry is massive. People all around the world need buildings to live in, work in and relax in. As more people join the population, more buildings will be needed. With 8.6 billion people estimated to inhabit this planet by 2030, we’ll need to build an average of 13,000 buildings every single day to accommodate everybody. That’s an order as tall as a skyscraper—or a few thousand of them. . . .”
Building A Home For AI In Construction from Forbes
“Technology moves rapidly, and over the past 20 years, it’s been developing at a lightning-fast pace. Only recently has it crossed into the construction industry, where new software and tools continuously emerge and evolve. However, many of these breakthroughs face pushback when they’re born out of an aimless development process, where software developers found a hammer and are looking for nails rather than finding a nail and grabbing a hammer. . . .”
Funding for US-based contech firms may be slowing from Construction Dive
“Despite recent reports detailing how investors on a worldwide scale are pouring money into construction technology firms, a new analysis from tech publication Crunchbase Daily shows that the flow of capital to U.S.-based firms may be slowing compared to last year’s record numbers. . . .”
How IoT Applications Improve Construction from Construction Equipment
“Construction companies that adopt Internet of Things (IoT) devices on the job have benefitted from the increased efficiency the technology offers, according to an article in IoT For All. The article reports that the leading drivers of adoption include increasing productivity, better managing maintenance, and security and safety. . . .”
Construction industry lacks in artificial intelligence integration from Construction and Demolition Recycling
“Artificial intelligence (AI) has pervaded almost every industry; however, the construction industry is failing to take advantage of this technology, according to a 2018 report by the New York-based consulting firm McKinsey & Co. When discussing AI in the construction industry, the report’s authors cite lack of resources as the impetus holding contractors back from embracing this technology. “Despite proven high return on investment (ROI) and widespread management interest in AI solutions, few [construction] firms or owners currently have the capabilities—including the personnel, processes and tools—to implement them,” the article states. . . .”