The report also emphasizes the changing workforce, with a focus on upskilling and well-being as critical factors. With a significant portion of the workforce nearing retirement, companies are implementing upskilling programs to attract and retain talent. Additionally, AI-driven insights are reshaping decision-making, and digital tools are empowering builders in the design process. Procore's CEO, Tooey Courtemanche, and Global Technology Evangelist, Kris Lengieza, stress the importance of technology in driving industry transformation while highlighting the essential role of human expertise.
Key takeaways:
- AI and automation are poised to significantly enhance productivity in construction, with 18% of project time currently lost searching for data and 28% wasted due to rework.
- The construction workforce is undergoing a generational transformation, with 53% of workers expected to retire by 2036, prompting companies to implement upskilling programs.
- Over 80% of construction executives agree that connected historical data is crucial to project success, though 76% of civil and infrastructure builders are not yet fully harnessing their data's potential.
- 49% of construction professionals anticipate increased use of BIM for design collaboration and clash detection, with digital twins and AI-powered simulations optimizing designs before construction begins.