The money flowing in to new construction technology is unprecedented. In the in the five years from 2009 to 2014, $8 billion was spent on digital investments to boost productivity, improve design and optimise project management. But in the following five years – 2014 to 2019 – this more than tripled, with investors pouring more than $25 billion into construction tech.
We often hear that construction is a laggard when it comes to adopting technology, but in this episode we will learn about the incredible challenges facing construction companies as they pivot from famine to feast.
We will learn why exactly construction has become the new darling of Venture Capitalists, what this means for the future, and what still stands in the way of a truly digitalised industry.
Guests
Frank Malangone, Executive Director – Industry Strategy and Innovation, Oracle Construction and Engineering
Geoff Roberts, Director of Energy Industry Strategy, Oracle Construction and Engineering
Jeff Herriman, Managing Director, Ascentage Group
Sherief Elabd, Director of Industry Strategy & Innovation, Oracle Construction and Engineering
Resources
For the McKinsey report on construction efficiency, click here
For an article on the capital flowing in to construction technology, click here
For the importance of platforms in adapting technology to the worksite, click here,
Partner
Oracle is a multinational data and computing company headquartered in Texas, USA. In engineering and construction, it develops technology to connect teams, processes, and data across the construction project and asset lifecycle. Boost productivity, increase control, mitigate risk, and unlock insights to improve performance across your projects and programs.