Over two centuries ago, German writer Johann Wolfgang von Goethe quipped that “Few people have the imagination for reality.”
Maybe that’s why virtual and augmented reality technologies, which allow people to see structures and spaces before they’re built, are making significant inroads into the construction industry today.
Director of Design Technology David Flynn authored an article in Construction Executive about how proper information management in construction can bring tangible financial benefits.
"Construction players can interact directly with a project’s cost, schedule, design, construction and ops process and connect intangibles such as activities and risks. The result: a truly cohesive integrated asset lifecycle that recovers value and reduces costs".
McKinsey says that while sectors such as manufacturing, retail, and agriculture in the United States have increased productivity 1,500% since 1945, construction is still where it was 80 years ago. The trend led the global consulting firm to conclude that construction has an “intractable productivity problem” while identifying the sector as the second-least digitized industry in the United States.
