By Greg Michael, communications specialist, On Center Software
Technology in Construction is Beyond Impactful
The pulse of the construction industry is constantly measured by economists and business analysts. There are monthly and quarterly reports showing steady growth. What about potential game changers on the horizon?
Carolina Borges Cavalcante, business intelligence director at Oldcastle Building Solutions, recently sat down with Alex Carrick, chief economist for ConstructConnect, to discuss possible impacts of technology over the long term. Carolina has an MBA from the Harvard Business School, which prepared her for her role at Oldcastle.
Alex has been providing the construction industry with economic and forecast data for over 30 years, that’s almost as long as On Center has been in existence. In this video segment, Carolina interviews Alex on the impact new high-tech products could do to the construction industry.
Alex has been providing the construction industry with economic and forecast data for over 30 years, that’s almost as long as On Center has been in existence. In this video segment, Carolina interviews Alex on the impact new high-tech products could do to the construction industry. For example, as solar panels become commonplace in residential and commercial construction, energy generating plants using coal and natural gas will become less valuable. Construction of prisons may decrease because more and more prisoners will be tracked with economical electronic ankle bracelets. Construction of new paper mills could come to a standstill because the internet has made printing a small business.
Highlights of technology in construction include:
- Construction investment has been lagging behind the overall economy and technology is influencing those changes
- For example, brand name brick and mortar retail stores are being supplanted by online shopping
- While technology may eliminate or decrease demand for certain types of construction, it will also pave the way for new types, i.e., solar power vs. coal burning power plants
- Building product manufactures need to spend equal time focusing on construction forecasts and emerging technologies to stay ahead
- Technology is also helping to create better construction materials with things like self-healing concrete and self-monitoring building systems
Watch Part 3.
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