from market entrants that have not traditionally been capital project players ,” McKinsey explained .
The case for AI in the industry , as with any looking to maximise efficiency , safety , accuracy , and productivity whilst cutting costs , is clear . In terms of limiting factors , Research Dive ’ s ‘ Artificial Intelligence ( AI ) in Construction Market Insights , - 2019- 2026 ’ report found that the greatest is the skills gap that must be bridged for successful implementation . The complexity of the construction journey stands to be streamlined by AI as it ’ s trained to answer tricky questions and solve problems at a greater pace than a team of people , but that pre-existing complexity is , in itself , a wall against such far-reaching technological change . With the very real pressure of being left behind , this is a challenge that enterprises in the industry are increasingly willing to face . Research Dive predicts that the AI in Construction , as an industry in itself , will generate cumulative revenues of over US $ 2.6bn by 2026 , with a compound annual growth rate ( CAGR ) of 26.3 % between 2019 and 2026 .
81 constructionglobal . com