Before Covid-19 relegated most of society to the confines of their homes, the fourth industrial revolution sought to bring digital transformation to the masses beyond online classes and work-from-home. Across businesses, digital transformation became the new buzz phrase, describing the potential of technology to rebuild entire industries.
While most other industries have undergone tremendous changes over the past few decades, reaping the benefits of process and product innovations, the sector’s hesitation to embrace the latest technological opportunities and its resultant labour productivity has left it stagnant. Internationally, tech start-ups in this arena have contributed to improved processes of collaboration between suppliers and contractors, simplicity in recruitment, and sufficient knowledge transfer.
On the technical side, one third of construction costs are attributed to building materials. Therefore, the industry could increase the development and implementation of standardised, modularised and prefabricated components, which will in turn increase productivity, lower costs and maintenance fees for end users, as well as provide improved systems for interface and technical issues, and more scope for recycling.
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