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In an era of technological innovation, the construction industry stands at the crossroads of transformation. As we journey further into the digital age, construction professionals continually adapt to new tools and methodologies that promise to revolutionize how we build and shape the world around us.
Today, ProjectPro had the privilege of conversing with a true visionary in construction and technology. With years of experience and a deep understanding of the industry's evolving landscape, Matthew Presta is uniquely positioned to provide valuable insights into the fusion of construction and technology.
Who Did We Interview?
Matthew Presta is a multifaceted professional with a diverse law, entrepreneurship, and technology background. As an entrepreneur, attorney, and lifelong learner, he thrives at the intersection of business, real estate, and development law.
Matthew's expertise assists clients in navigating intricate and varied transactions, including commercial, industrial, retail, and residential leasing, land development, mixed-use projects, condominium development, and property acquisition, disposition, and financing.
Currently serving as a senior associate at a law firm, Matthew brings a wealth of knowledge from his academic journey. He holds degrees from esteemed institutions such as Queen's University, McMaster University, and York University, blending his acumen in business and law to provide clients with high-quality legal services marked by a personalized touch. Furthermore, Matthew's passion for innovation and technology shines through his role as the Chief Operating Officer at a construction tech startup.
2023 marks a pivotal point in the construction industry in North America. In an economic environment of rising interest rates and chronic labor shortages, traditional construction practices are being re-evaluated by adopting specialized technologies to drive productivity, saving time and money.
Part of this seismic shift away from tech resistance is generational. The new guard is increasingly willing to embrace technological innovations out of sheer necessity to stay competitive when faced with these challenges. From digital blueprints to augmented reality site inspections, the digital wave is here and here to stay.
The construction industry has indeed seen a myriad of changes over the decades. In my perspective, the biggest challenge we face today is the integration of these new technologies with legacy systems and practices. It's not just about adopting the latest tech; it's about changing the habits and mindset of an entire industry. This involves training, education, and a willingness to embrace these changes to become more efficient.
Legacy software players must embrace technology integrations with complementary tech solutions to avoid being leapfrogged by new players. Competition is bred out of complacency, and the customer must always be the primary focus to drive sustainable value.
New construction technology and trends have vast potential, such as Building Information Modeling (BIM), drone site surveys, 3D printing, and, most importantly, augmented reality. This type of tech brings game-changing results, drastically reducing errors, increasing efficiency, and streamlining operations. When implemented correctly, these technologies boost the productivity of construction professionals by improving decision-making confidence, which ultimately reduces costs and enhances the overall quality of construction projects.
Looking ahead to the next 5 years, I envision the construction industry becoming more intertwined with synergistic technologies. We'll see a rise in smart construction sites, where real-time data is used to make instantaneous decisions. Augmented reality will become a major new asset procurement method, pushing us towards virtual equipment dealerships and eCommerce-driven experiences (even in the B2B space).
Sustainability will also play a big role, focusing on green construction methods and materials. Additionally, as urbanization continues to expand, there will be a greater emphasis on vertical construction and efficient use of space. The industry will not just be about building structures but creating holistic, sustainable, and tech-integrated living and working spaces.
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With a belief in challenging conventions and fostering positive change, Matthew remains open to new ideas, opportunities, and connections. Beyond his professional pursuits, he is an enthusiastic aficionado of machinery, martial arts, travel, and fitness.
Shawn Sauve
VP - Sales Dynamics Practice Lead
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