Affordable construction business technology is getting easier to find. If you’re looking, here are some of the innovations shaping the future of construction.
Technology is more than just drones and robots, exoskeletons, and laser scanning. It’s also in the programs contractors use every day to streamline their workflows and speed up progress on their jobsites. –Trendlines
- Fintech – Several industries have used software solutions to leverage pricing and procurement. Procore construction software company noticed subcontractors often wait 3-4 months for payments while still being expected to advance the money for project materials. The company is developing financial technology for a material procurement payment initiative. Procore would purchase materials, incorporate an origination fee and finance charge, and subcontractors would have up to 120 days to pay the loan.
- Robotics – We’re getting there. While robotics are used in production at 84% of automotive and 79% of manufacturing companies, only 55% of construction businesses utilize this technology. Construction is considered one of the most dangerous industries. Equipment like drones deliver real-time accuracy but can also substantially improve construction safety.
- Safety tech – Safety protection protocols and devices are critical components of every jobsite. The construction business technology software, wearables, etc. have not only reduced accidents, but they have also improved productivity. Wearables that keep workers safer also amass a huge amount of information.
Chief Innovation Officer Thai Nguyen of Hensel Phelps said, “We’re getting better at collecting data with 360-degree cameras, LIDAR, drones, wearables, and machine sensors… But the real value is how it surfaces, in a way that’s very transparent, giving everyone access and actual items that will improve on these trends.”
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