What's Happening?
A survey by RS indicates that 40% of construction firms in the UK adopt an 'opportunistic and ad hoc' approach to innovation. Legacy systems and processes are holding back 85% of firms, impacting efforts to modernize technology and address sector challenges like building safety and labor shortages. Despite these challenges, 39% of construction leaders prioritize AI to drive digitalization. Balfour Beatty's investment in Microsoft's AI tool, Copilot, exemplifies the industry's move towards automation and improved productivity.
Why It's Important?
The survey highlights the need for construction firms to adopt a more strategic approach to innovation to remain competitive. The reliance on outdated systems and processes can hinder progress and efficiency. Embracing AI and digital tools can address these issues, enhancing operational performance and safety standards. The findings underscore the importance of proactive innovation strategies in overcoming industry challenges and achieving sustainable growth.
