Author: Laura Black
There was a headline earlier this month that said the 2021 Great Resignation has now become the Great Regret, as 80% of the job hoppers wish they hadn’t quit their old roles, with Gen Z the most regretful. This points to the fact that workplace trends are evolving nearly as quickly as technology does. Are construction companies ready for the progression that is happening the workplace in 2023? Perhaps one of the biggest questions on everyone’s mind is with an economic downturn on the horizon—and many companies turning to large layoffs—will the labor market still remain competitive? We know in…
For decades pundits have been talking about what the “future home” might look like—some looking to the shape and design of the home; others looking at the technologies present in the smart home; and others looking at the unique construction methods used to build the home. Even media throws its predictions of what a futuristic home might be. In fact, look no further than the 1960s show the Jetson’s Skypad Apartments in Orbit City, which envisioned a Space Needle version of a home that looked like a circle pod on a long stick. Others lean into the more high-tech mansion—think…
Is a downturn coming for the construction industry? Some pundits say yes, and some say not. The construction industry continues to see high inflation, disrupted supply chains, and construction companies struggle to find the talent to complete projects on time and on budget. A closer look at the numbers paints a clearer picture of where we currently are at and where we are headed in construction. FMI’s North American Engineering and Construction Industry Overview in the first quarter of 2023 gives some interesting takeaways. For one, total construction spending in 2022 was driven primarily by residential building, multifamily, commercial, and…
Technology innovation can sprout up from many places. It can come from the minds of engineers. It can develop in labs in higher institutions. And it can become something more right from inside the four walls of a construction company. The challenge becomes fostering that innovation and helping it become something bigger, especially when small tech startups struggle to get up off the ground. Still, even with the challenges it faces, the construction industry is experiencing considerable digital disruption. Often considered a laggard, many in construction recognize that innovation needs an infusion of investment to help it take off. As…
The predictions for 2023 are coming fast and furious for anyone who has a stake in the construction industry. Let’s take a look at what is in store for the construction industry in the year ahead. Forecasts can run the gamut—everything from construction industry trends that are skyrocketing to tech movements that are taking hold across many vertical markets. Each helps shape the way the market and business unfold in the year ahead. Industry Trends to Watch Let’s start by narrowing in on construction industry and real estate trends to be aware of in the year ahead. Many reports are…
Roughly a decade ago, we saw many construction technology providers acquiring others with many attempting to achieve the same objective: an end-to-end platform. These days, we are seeing acquisitions happening with that and other intentions in mind—many of which are aimed at solving very specific challenges that exist in the construction industry today. One of the more recent examples is Trimble’s acquisition of Ryvit, which was announced earlier this year. Ryvit builds connections between commonly used applications and data sources, enabling information sharing both within and across organizations so that project teams can use the right information to make the…
With the economy slowing down, will the smart-home falter in 2023? One prediction suggests the answer is probably not entirely. Even with wallets being squeezed, homeowners will still readily rely on technology to make their homes secure. An end-of-the-year prediction from IDC showed that while worsening macroeconomic conditions have led to a reduction in the outlook for global smart-home device shipments—with an expected decline of 2.6% in 2022—there will still be modest growth in 2023. Though the global market is forecast to return to growth in 2023, the smart-home market will remain relatively low at 4.6% with most of the…
Everyone is saying the economy is heading for a downturn—from your colleague at work, to the person on the news, to your cousin at the holidays. But is it true for homebuilders? Are we seeing a decline in house prices? And what is the 2023 outlook for the year ahead? Redfin suggests a sales slump will push home prices down for the first time in a decade. The forecast projects home sales will fall to their lowest levels in the first half of 2023, with a slow recovery in the second half of the year. Housing Trends to Watch The…
We have been talking about robots on the construction jobsite for years, as they offer a way to minimize tedious and time-consuming tasks on a jobsite. With the rise of AI (artificial intelligence) to power machines of all kinds, we may soon see more robots on jobsites, working side-by-side with workers. In fact, one organization is now recognizing a robot as a builder and inducting it into a builder’s institute. This story comes out of East coast and the LIBI (Long Island Builders Institute), which is an association of building industry professionals and a local chapter of the NAHB (National…
With inflation up and budget cuts happening across all divisions of construction companies, CIOs are tasked with implementing new, innovative technology and demonstrating the positive financial benefits of tech investments. Perhaps the best way to proceed in this case is with a clear vision of the financial impacts of digital transformation. One new survey suggests 94% of organizations are struggling with developing this vision for digital change—at least in the EMEA (Europe, Middle East, and Africa) region, although I suspect this is a common occurrence around the world as well. The 2023 Gartner CIO and Technology Executive Survey gathered data…