KPMG's 2023 Global Construction Survey highlights a significant shift in technology adoption within the engineering and construction industry, with AI and digital twins emerging as major players. The survey, which gathered insights from 267 professionals, reveals that 40% of engineering and construction firms are now adopting or starting to adopt AI, a notable increase from previous years.
What Happened
The 2023 survey underscores a growing trend towards integrating advanced technologies in construction and engineering projects. VR usage has seen a dramatic rise, doubling from 28% to 56% since the last survey. Meanwhile, AI adoption has surged, with 40% of firms now either using or beginning to use AI technologies. Despite this, only 4% of firms apply AI across every project, indicating room for growth. Technologies such as digital twins and modular/offsite manufacturing are also gaining momentum. However, certain technologies like RPA, 3D printing, and machine learning are still underutilized due to a lack of industry standards.
Why It Matters for the AECM Industry
The adoption of technologies like PMIS, BIM, and advanced data analytics is identified as having the highest return on investment potential in capital projects. These technologies are credited with improving cost and schedule performance, which are critical factors in the competitive construction landscape. The survey also points out that the successful implementation of these technologies often depends on having experienced team members and effective project management offices. As firms look to leverage these technologies to gain a competitive edge, the industry must address challenges related to standardization and workforce skills.
What's Next
Looking ahead, the industry should watch for further developments in AI integration and the standardization of emerging technologies like digital twins and modular manufacturing. Firms that can effectively incorporate these technologies into their operations may gain significant competitive advantages. Additionally, the need for skilled professionals who can navigate and implement these technologies will likely increase, underscoring the importance of training and development in the workforce.
Source: https://aec-business.com/technologies-with-the-highest-roi-potential-in-engineering-and-construction/. Read the original story ->
