Adopting new technology for economic uncertainty in construction can help to eliminate redundant work and streamline critical tasks
According to the latest Autumn Construction Forecasts 2022-2024, construction output is expected to fall by 3.9% in 2023. As real wages plummet and interest rates rise, the demand for new builds, repairs and improvement in the private housing sector is likely to fall as well.
What’s more, those working in commercial and infrastructure are seeing inflation drive up construction costs. But, while adopting new technology can be daunting for any business, it can help to eliminate redundant work and streamline critical tasks, easing the burden as the economy becomes more challenging.
How to mitigate the impact of economic uncertainty in construction
The pandemic accelerated digital transformation in construction, forcing companies to review their processes, operations and procedures – many of which were outdated and no longer fit for purpose.
Organisations took the opportunity to identify gaps that digitalisation could fill, enabling them to adopt solutions that might otherwise have taken years to integrate.
How can new technology help economic uncertainty in construction?
1. It aids sustainability efforts
- Businesses can go paperless
- Doing everything digitally reduces carbon footprint
- Remote working cuts unnecessary transport
2. It improves collaboration
- Cloud technology makes it easy to share information from anywhere – This helps avoid unnecessary delays and costs
3. It streamlines processes
- Manual processes can be automated
- There’s construction software for everything from payroll to scheduling to project management
4. It supports training
- Teams can access flexible, up to date training
- Less need for recruitment, upskilling staff instead
5. It minimises re-work
- Progress is easy to track
- Different teams can easily collaborate
- mistakes and problems become less likely.
Firms that take advantage of technology have an opportunity to stand above competitors that are slow to adapt.
Read the full article on Built, The Bluebeam Blog.
