Industry experts to convene at the Construction Technology Forum in Dubai to discuss global technological developments
The global construction industry is gearing for massive changes and challenges, compelling Middle East companies to adopt new technologies or fall behind.
“There is no stopping the megatrend toward digitisation,” said Mibu John, Partner & Managing Director Ventures Middle East, a well-known management consulting and research company in the Middle East. “Companies who move early to develop and implement their own digitisation strategy will be the winners as the construction industry goes digital,” he added.
Modern construction companies are under increasing pressure to ensure timely delivery among costly challenges like delays, overspending and shortages of skilled labour. With new technologies like Artificial Intelligence, 3D printing, Building Information Modelling (BIM), IoT (Internet of Things), and cloud-based solutions to manage the surge of Big Data in construction, the challenges now plaguing the construction industry could soon become less relevant.
Producers who do not provide tech compatible products and information will fall behind. Construction companies must be prepared to manage Big Data as invaluable information that can lead to new business models or services.
“Construction firms of the future will use digital tools to have materials supplied just in time, thereby cutting the cost of storage and transportation and increasing efficiency. “They will source materials with electronic portals and, in so doing, optimise not only their prices but also their collaboration with suppliers. In production, building suppliers will deploy smart machinery and applications that forge networks in which all production processes are planned in advance and operated with optimal efficiency,” commented Sassan Hatam, Partner at Roland Berger, a global strategy consulting firm.
The Construction Technology Forum 2018 takes place 24-25 September, 2018 at the Address Hotel Dubai Marina and is designed to provide insights on how adopting technology can reduce operational costs, boost productivity and enhance overall quality across all elements of the industry supply-chain.
In the Middle East, the UAE is aiming for 25% of new buildings to be printed by 2030; and Saudi Arabia seems intent on using 3D printing to reduce its housing deficit. The UAE has also launched the UAE Strategy for the Fourth Industrial Revolution and the UAE Artificial Intelligence Strategy of 2031 both aiming to position the country as a global leader for leveraging cutting-edge technologies to drive innovation and boost the economy.
Just by implementing its AI strategy the UAE estimates a growth rate of 26%, and economic savings of AED 335bn (US$ 91.2bn) experts note.
