Global Artificial Intelligence in Construction Market to Witness Significant Rise in Revenue During the Forecast Period

 The construction industry is on the verge of a digital revolution with the adoption and instigation of automated systems such as AI and machine learning. This new business model is going to disrupt the traditional work processes and bring numerous opportunities for the industry. Artificial Intelligence is going to increase the work efficiency like never before. It is going to impact the entire value chain of the construction industry from planning, researching, designing, to cost-reduction. Thus, giving a new edge to the smart construction processes.

Applications of AI in Smart Construction

1. Automated Planning Process

Traditionally, the builders used to spend weeks to design the perfect manual models. For proper planning couldn’t be compromised, the process took a whole lot of time which resulted in loss of customers.

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Artificial Intelligence is capable of faster and accurate planning for any kind of projects. These smart machines can help in creating similar projects in a shorter time by digitizing the existing projects.

The machine can computerize the statistics from the existing work. Then the dimensions, materials, cost, and location are analyzed in real time. Post analysis, flawless plans can be generated in a much faster way. Customization options are also available for the builders providing them the convenience of make the plan customer-friendly.

One such process is Building Information Modeling. This 3D model-based process offers insights to the engineering, architecture, and construction professionals so that they can plan, design, construct and manage buildings and infrastructure efficiently.

2. Automated Machine Functionality

The traditional construction gears such as cranes, bulldozers, and excavators are obviously perilous to the performance in any building site. Meagre planning and improper handling of such construction tools may result in serious injuries and even deaths to workers.

On the other hand, the Artificial Intelligence tools make such construction machines more secure and safer. Regular machines are elevated to automatic tools by combining autonomous technology and sensors, which results in faster, safer, more efficient workflows.

3. Risk Mitigation

Companies have started using AI and machine learning in order to reduce risk. Every construction project go through major or minor risks related to quality, safety, time, and cost. General contractors take help of AI and machine learning solutions to monitor and prioritize risk on the construction site. This helps the project team to focus their limited resources and time on the biggest risk factors and thus mitigating risks.

4. Cost Control during the Project

Most big construction companies often have to invest higher amount of money. Bigger the project, bigger the investment. AI tools work as fortune tools in this regard.

Machine learning helps in analyzing multifaceted projects and regulate variables that may lead to project issues. Artificial Neural Network is such a tool that helps in analyzing employee performance, start dates, cost of materials, and other variables of interest. Then it becomes easier to handle complicated project designs.

5. A Solution to Labor Shortage

A major threat to the construction industry is the shortage of skilled labor. To get rid of this hindrance, construction firms have started investing in AI and machine learning.

According to a McKinsey report, by using real-time data analysis, construction firms could enhance productivity by almost 50 percent.  The distribution of labor and machinery equipment is getting planned more proficiently with the help of AI and Machine learning in different construction fields.

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6. Construction Site Assessment

With new drones taking pictures of recommended construction sites, AI tools are helping sites to achieve another height. Aerial Mapping Software are tools that use self-directed technology to capture 2D and 3D images of the construction site. Then, the images are scrutinized and converted to regular file types such as PDF, CAD, and BIM.

Future of Construction

There are lots of buzz regarding the massive job losses on the arrival of Artificial Intelligence. Yet, AI is not so likely to take and replace human workplace any time sooner. On the brighter side, AI on the contrary, will change and redefine business models in the construction industry by reducing human errors, decreasing work injuries, and making building operations more efficient and accurate. These factors are adding positive influence in the global industry of AI in construction market.