Management ace: Digitization sweeps global construction business

Sources: World Economic Forum, Geneva; Boston Consulting Group; CP staff

Digital technologies such as building information modeling, prefabrication, wireless sensors, automated and robotic equipment, and 3D printing will transform the entire engineering and construction (E&C) industry and its 100 million-plus employees worldwide, according to “Shaping the Future of Construction: Future Scenarios and Implications.” The new World Economic Forum and Boston Consulting Group report cites a potential $1.0 trillion to $1.7 trillion in an annual cost savings tied to a full-scale digitization of the global E&C business. 

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