Digital progress is transforming entire industries, edging us towards a new technological era known as the fourth industrial revolution. Digitisation of the construction industry, while in its infancy relative to other industries, has reached widespread acceleration as companies face increasing pressures to meet client expectations while adapting to supply chain disruptions.
But according to the World Economic Forum, the productivity of the construction industry has remained relatively flat for the last 50 years, hamstrung by a competitive procurement model responsible for creating project silos and industry fragmentation that slows down the pace of innovation.
But construction businesses are now making dramatic shifts operationally and logistically to adapt and respond to changes to the ‘new normal”. Improving working processes throughout the construction project lifecycle – from acquiring the work, to building and tracking of projects – has become a key focus area for preparing for the digital future and shaping industry sustainability.
Join us as our speakers, Lauren Coates from Daracon Group in Australia and Paul Johnstone from 4S Bid Limited in the UK, compare and contrast key challenges and opportunities facing the construction industry across their regions, and the varying degrees of impact that the pandemic has had on industry members and their clients.
Discussion highlights include:
- the main issues that are front of mind for construction companies
- how companies are adopting digital solutions like BIM to address economic and environmental impacts
- how companies are adapting their bidding practices in the face constant change
- the role that industry is playing, or could play, to improve the tendering process.