A study led by EY and summarized in the Profit shows that Artificial Intelligence, talent diversification and new regulations are the engines of growth of mid-size companies globally over the next 12 months.
Attitudes towards new technologies evolved faster than last year. If in 2017, 74% of global mid-level executives say they will never adopt Process Automation (RPA), only 12 months later, 73% of respondents say they are already adopting or planning to adopt artificial intelligence AI) over the next two years. According to the study, companies recognize the need to become more agile. However, with their desire to adopt new technologies and incorporate AI into their businesses, company leaders are in danger of underestimating the magnitude of cyber threats. In fact, only 7% of them plan to invest in technologies that reduce the risk of cyber attacks the following year, and 6% think cyber threats are a challenge for growth.
Artificial Intelligence has numerous applications in all areas, and in constructions an Artificial Intelligence system can be used in a more or less close future, from planning equipment to a site, planning service interventions, planning replacement existing machines with new ones, etc.
Artificial intelligence, in addition to being a very fashionable subject, would also bring a number of benefits to the construction industry. Reducing design time through the ability of the AI system to design automatically (and perhaps with a higher degree of safety ?!), reduce costs and waste by calculating the exact material requirements for construction work, reducing time execution through better planning of machines and equipment. Is there also a response to lack of staff? We will see!
These would be only the first steps in the use of artificial intelligence in the construction industry, but evolution will not stop here. Most predictions for the next 30 years indicate that the construction market is one of the first to be completely changed by the growth of artificial intelligence applications.
But until we get there, builders can begin by managing their work much better with SocrateERP, a specialized solution that gives them visibility and control. SocrateERP provides an integrated application to construction companies and helps manage all of the company's processes efficiently: procurement, contract management, costs, consumption, employees, equipment and machinery. SocrateBI, the state-of-the-art business intelligence solution, helps constructors to maximize profits by efficiently executing each project, and managing multiple projects with fewer resources by integrating and automating key processes.
Learn more about SocrateERP in the e-book "7 successful recipes for construction companies".