Transforming the construction industry with AI and IoT

On the one hand, urban areas’ population is increasing by 200,000 people per day globally, while on the other, the construction industry is still facing problems such as missed deadlines, costly rework, waste of resources, poor ROI, and overspending. In fact, 98% of billion-dollar-plus megaprojects face cost overruns or delays, according to McKinsey research. That’s why every construction firm out there is desperately looking for ways to help them to complete the project in budget and in time.

An AI-powered IoT-enabled smart building solution transforms every facet of the construction – from equipment, administration, construction methodology, to post-construction. This solution is not only limited to remote monitoring of equipment or informing about the location and a movement in real-time, but it goes beyond that. With machine learning algorithms, the solution identifies patterns within data sets – collected from sensors embedded in construction equipment – and makes maintenance predictions. Now, to explain why predictive maintenance could be a valuable feature for construction companies, let us show you a real situation: “When the wear starts in a pin and bushing, and if that gets repaired at the beginning, it costs around $1,000 and takes 4 hours for the repair. But, in case, if that wear has not been repaired and equipment keeps running, then the repair cost would be around $5,000 and in some cases, would take 16 hours.”

Imagine what if you could sort out such issues, with every equipment running on your construction site before it happens.

Moreover, with AI capabilities, the solution utilizes existing knowledge, context, and experience to make effective decisions based on the ever-changing data and determine if manual intervention is essential in the specific circumstance. And if so, AI models can even match the skills required to correct anomalies with those of technicians currently available on duty, and automatically generate work orders.

The other major use of this AI-powered smart solution in the construction industry is creating a safer work environment. Safety is of the utmost concern for the construction industry, as research from the Center for Construction Research and Training has concluded that nearly all construction workers will have at least one work-related injury in their lifetime. Isn’t it shocking? Beyond GPS tracking and real-time alerts, the solution’s AI element is increasing the power of safety on construction sites. AI’s object and facial recognition capabilities scan different faces as people pick up the item. It then matches with the data sets of employees who are certified to use particular equipment, and accordingly generate and distribute violation notification to the appropriate personnel. The solution also confirms that the items on sites are being stored safely, and display the data about who handled the equipment most recently. Altogether, it ensures the safety and health of all workers at worksites.

In all, sensors and machine learning algorithms together enable many forms of construction site optimization. The bottom line is: be it streamlining workflows on job site, improving communication and collaboration, enhancing labor-productivity, achieving sustainability goals, or reducing billing costs – an AI-powered smart construction solution is the answer for all limitations.

Learn how IoT and AI can transform your construction business. Connect with our experts for a consultation.