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Technology has also helped to mitigate the effects of labor shortages in the construction industry. With an aging workforce and a decreasing number of new entrants to the industry, construction companies have had to find new ways to attract and retain workers.
One way they have done this is by implementing automation technology, such as 3D printing and robotics, which can reduce the need for manual labor on certain tasks.
With the help of such advanced technology, the industry is more attractive to younger workers and reduces the burden on an aging workforce.
So to shed some light on the same, we interviewed the industry expert, Oded Ran, to help our audience understand the impact of technology in the construction industry.
Who Did We Interview?
Oded Ran is the Co-founder and CEO of a tech company that helps to transform Data and AI.
He has over 20 years of experience in building and investing in mobile, SaaS, and eCommerce businesses, including early stage start-ups, scale-ups, and a Fortune 500 company.
Having earned an MBA from Harvard Business School, he has gained a wealth of knowledge and expertise, but he also recognizes the importance of un-learning some of the things he was taught.
As of now, Oded actively takes part in podcasts to share the wisdom he has gained over the years.
In 2023, I envision the construction industry embracing digital transformation more than ever. With the increasing adoption of IoT, AI, and cloud computing technologies, construction professionals will continue to enhance their efficiency and productivity. While I wouldn't label this year as the only "digital year," it marks a significant turning point in the industry's digital journey.
The construction industry has indeed evolved over the years, but the biggest challenge remains the resistance to change. Many professionals still rely on traditional methods, which can hinder the adoption of innovative solutions that improve efficiency, safety, and sustainability.
The latest construction technology trends hold immense potential for the industry. Technologies like Building Information Modeling (BIM), drones, and autonomous equipment have the power to significantly boost productivity, reduce project timelines, and minimize human error. Embracing these advancements will be crucial for construction professionals to stay competitive.
In the next five years, I see the construction industry becoming more efficient, sustainable, and connected. We can expect an increased collaboration between various stakeholders, resulting in better project management and execution. Innovative construction materials and methods will contribute to building safer and more environmentally friendly structures.
Digital transformation, sustainable growth.
My success mantra is the only constant thing is change.
More Details
Oded Ran has a passion for helping underserved industries become more productive, and has found the construction industry to be the perfect space for this endeavor. Apart from his work, he loves to volunteer for noble causes.
Furthermore, he humbly acknowledges that any wisdom he shares on LinkedIn is simply a reflection of the invaluable lessons imparted to him by the kind teachers he was fortunate enough to cross paths with along his journey.
Shawn Sauve
VP - Sales Dynamics Practice Lead
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