EDITORS LETTER Time for construction to unlock digital potential
There are plenty of competing dynamics in the construction sector – whether it ’ s warnings that up to 40,000 UK firms could fold or homebuilders responding with record order books . As always , there are innumerable factors that can impact a company ’ s viability .
“ What is less debatable is the potential of fullscale digitalisation . The World Economic
Forum estimates it could unlock savings between $ 700 billion and
$ 1.2 trillion in design , engineering and construction ”
What is less debatable is the potential of full-scale digitalisation . The World Economic Forum estimates it could unlock savings between $ 700 billion and $ 1.2 trillion in design , engineering and construction . It ’ s a mind-boggling figure but just goes to show digital ’ s potential – not only in improving how the industry works today but creating new ways of working tomorrow .
With governments committed to post-pandemic infrastructure programmes , and exciting opportunities in sectors such as energy – with everything from solar plants to ‘ hydrogen transport hubs ’ in the offing – there are reasons to be cautiously optimistic . Modular construction is gaining traction . Blending the physical and the virtual presents the industry with a fresh start .
From the work site to the back office , the world is changing rapidly . Construction may not be in a great spot but it ’ s not in a bad place either ; opportunities and challenges will continue to present themselves in equal measure .
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