Global Market Scan: Helpful AI in construction on an upward trajectory - constructconnect.com

Dmytro KonovalovThough the construction industry contributes a significant share to the GDP of first-world countries, the industry itself has seen low modernization in the last 20 years.

By 2030, global AI in construction is anticipated to exceed US$4,910 million, representing an approximately 35.2 per cent compound annual growth rate from 2023. AI will also be instrumental in tracking the progress of projects, optimizing processes, offering solutions and identifying potential threats to employee safety., the companies Autodesk, IBM, Microsoft, SAP and Oracle will lead the implementation of AI in the construction space.

Recently, the mining industry started using Automated Guided Vehicles , such as drones and autonomous ground machinery, for mining, mineral quality assurance and project planning. AGVs are also often employed as substitutes for human workers when performing dangerous mining operations. Like other autonomous vehicles, autonomous construction machinery also includes predictive maintenance that allows one to foresee and prevent equipment malfunctions.predictive maintenance reduces breakdowns by 70 per cent, lowering overall repair costs and reducing downtime.

Additionally, AI can be utilized to optimize shipment processes by detecting disturbances in supply chains ahead of time and minimizing the possibility of stock outages, thereby overcoming negative transportation and inventory planning implications for the costs of materials.

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