Source: Triax Technologies Inc., Norwalk, Conn.
Thanks to a flourish of Internet of Things (IoT) and companion developments on deck this year, connected jobsite software and hardware provider Triax Technologies contends that construction is poised to shatter its reputation as one of least digitized among major business sectors.
“Few industries have as great an impact on our economy as construction, yet it has been slow to embrace the digital tools and real-time data that have transformed other industries,” says Triax CEO Chad Hollingsworth. “This past year, the reduction in skilled labor drove contractors to seek out new technologies, such as IoT-enabled wearables and cloud-based solutions, to unlock efficiencies, improve safety and achieve more with the same number of resources. In 2018, jobsite technology will no longer be an option, but a necessity executives, insurers, project leaders and crews everywhere [expect].”
Topping trends he and Triax colleagues are tracking this year:
- IoT remains key to the connected jobsite. The growth of construction-focused, Internet-connected systems will continue to shape the way industry stakeholders approach projects, manage operations, and leverage historical data on future contracts. The proliferation of useful, previously unavailable data from a variety of sources, including workers, machines, tools, materials, and the environment, will be aggregated, monitored, and analyzed for real-time, actionable insights.
- Power to the end user. As construction technology solutions surge, organizations need to fully assess user needs and realities. By selecting practical, low maintenance and scalable solutions, organizations will facilitate adoption, which is critical for leveraging data and unlocking productivity gains. In addition, as technology increases at the jobsite, manual processes will be phased out and more data will become available to the average worker, enabling improved planning, coordination and communication.
- Integration momentum to take hold. Integrated systems will become mandatory in 2018. While contractors have traditionally been limited by separate estimating, bidding, collaboration and reporting methods and tools, more will demand a single stream of real-time, data-driven insights that can be used to improve project management and execution. Hardware and software providers will offer more options and flexibility than ever before, and a system’s ability to collect data at scale will be the key differentiator.
- Leveraging real-time data. Increased technology usage leads to more sources of insightful data, and IoT early adopters will place an increasingly high priority on reporting, cloud-based dashboards, and data visualization. A plethora of new data, emerging tools such as artificial intelligence, machine learning and predictive analytics will be used to unlock insights to enhance decision-making, increase efficiency, and improve profitability.
- Rise of insurtech. The insurance industry will increasingly leverage technology to help determine jobsite risks, and in turn, reduce risks and costs. With IoT-enabled technology, insurers can increase visibility, assess risk, combat potential fraud, and reduce premiums.