29 Jun 2024
Construction technology plays a vital role in transforming the growth of the construction market. Procore, a leading global provider of construction management software, underscored the increasing importance of technological advancement in the construction industry to help bridge crucial productivity gaps and the sector’s evolving needs. According to the JLL report, the Kingdom of Saudi Arabia and the United Arab Emirates are leading the Middle East construction markets with USD1.5 trillion pipeline and $590 billion, respectively. With this trend, realizing the use of technologies such as digitalization and predictive analytics empowers stakeholders to streamline operations, make informed decisions, and optimize resource allocation.
In a recent industry discussion, leaders, project owners, developers, contractors, consultants, and technology companies convened to exchange and share insights gained from years of experience and innovative work methodologies. Incorporating cutting-edge technologies showed notable results in boosting productivity, competitiveness, profitability, and sustainability.
Tony Harbour, Head of Technology Partnerships, EMEA, Procore, shared his thoughts on the tangible benefits of digitalisation across all the construction stakeholders. Harbour outlined examples of the results expected from using technologies in the construction industry, including quicker decision-making, prompt data interpretation, and having better visibility and control over productivity and profitability.
He also discussed the use of predictive analytics, which enables businesses to precisely forecast and assign tasks to contractors based on previously recorded data, and the growing applications of AI to complete tasks and queries more quickly, obtain information, boost productivity, and enhance operational performance.
Several industry leaders recognized the value technologies add to their businesses and Procore was mentioned as one of the most advanced solutions for the construction sector. Roger Wahl, Chief Technology Officer at Innovo Group, highlighted the transformative impact of Procore software, emphasizing its connected data environment and its role in enhancing project management, communication, transparency, data-driven decision-making, and adaptation to industry disruption. Additionally, Faik Haddadin, Senior Projects Director at Emaar, highlighted the key benefits of incorporating AI technology, focusing on how it fosters transparency among client, contractor, and consultant, thereby ensuring project success.
Procore demonstrates its dedication to remaining at the forefront of technological advancements and digitalisation, especially at a time when the construction industry is going through a significant transition, through its innovative solutions. Procore will continue to promote the rapid integration of technology in construction, while also sharing key insights that have the potential to fundamentally change the way that cities are built in the future.