Artificial Intelligence is an advanced technology or development in computer science that allows machines to act like human beings. AI will soon make a lot of things happen that were previously unthinkable or unimagined. It is one of the fastest-growing technologies in the recent years. Integration of AI in construction to automate boring and ordinary human tasks, allow workers to focus on complex and innovative tasks.
AI is relatively safer to operate as it reduces the chances of harm to the human body, and minimizes the cost of human labour. Furthermore, it is highly used to bring down labour costs, shorten unplanned downtimes, increase production speed, and cut product defects. The emerging technology in the construction sector includes safety sensors, drones, autonomous vehicles and robots.
Introduction of robots in the construction industry has completely changed the way we interact with the machines. The emergence of technologies such as cloud computing, big data, and improved machine learning algorithms have transformed the construction industry. The AI has the potential to enhance and extend the capabilities of human to help the business grow faster and effectively. Therefore, technology will drive the future of the construction sector.
North America holds the largest market share
North America is holding a significant share in the global market owing to increase use of AI in the construction sector to reduce the manual labor costs. The growth is driven by cost-effective solutions to make decisions and the rising penetration of technologies such as cloud computing and cognitive analysis. Additionally, the U.S. is the major contributor in the region owing to the presence of major AI providers such as NVIDIA Corporation (US), IBM Corporation (US), Intel Corporation (US), and Alphabet Inc. (US).
AI in the future of construction industry
Key market players are focusing on launching new products with innovation to expand their product portfolio and global footprint. Product diversification is one key strategy for exploring new opportunities. Key prominent players operating in the industry include Bosch, Cisco Systems, Inc., General Electric Company, IBM Corporation, Intel Corporation, Microsoft Corporation, Mitsubishi Electric Corporation, NVIDIA Corporation, Oracle Corporation, and Siemens AG. Moreover, companies such as GE, Siemens, Intel, Funac, Kuka, Bosch, NVIDIA and Microsoft are all increasing their investments in the research to improve all aspects of construction.