How Artificial Intelligence Impacts Job Opportunities in the Construction Industry
For several years, artificial intelligence has been integrated into various industries, including construction, offering conveniences that make it easier and safer for workers to perform their tasks. However, due to its capacity to handle substantial work, it may also impact job opportunities in the sector.
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Artificial Intelligence in Construction Industry
From the design phase to the operations phase and asset management, artificial intelligence and machine learning technologies are transforming every stage of the construction process. Significant advances in time and cost-effectiveness are being brought about due to this technical innovation, notably in the planning and designing subsegment.
Regarding construction management, artificial intelligence can improve operations' safety, speed, accuracy, and efficiency. By utilizing this technological advancement in construction solutions, organizations can proactively monitor construction sites for potential hazards and resolve critical issues to prevent accidents.
AI is causing a revolution in the construction industry, transforming how organizations plan, carry out, and manage projects. In addition, as the application of AI continues to grow, it is becoming increasingly crucial for businesses to adjust to this developing technology.
On the other hand, according to technologist Wyatt Jenkins, the ambition of contech giant Procore to digitize the construction industry
included acquiring the assets of Avata Intelligence, an artificial intelligence predictive analytics firm, in 2020. This was followed by the acquisition of Indus.ai, a company specializing in computer vision progress tracking, in 2021.
As mentioned, because artificial intelligence will fuel dynamic forecasts that respond to all the shifting situations on a project site, the trifecta of computer vision, machine learning, and generative AI will transform the built world. Nevertheless, he predicted that accountants and attorneys in the construction industry who are compensated for analyzing large data sets would be more significantly impacted by AI's job displacement than manual laborers on the job site.
Impact of Technological Equipment on Employment
In comparison to the growth rate of 3.6% in manufacturing and 2.8% for the entire global economy, Forbes reports that productivity in the construction industry has remained nearly unchanged over the previous two decades, expanding at only 1%.
Technology and AI present a tremendous opportunity for construction workers in the United Kingdom, as 46% of those surveyed believe upgrading their skills in AI and other technological competencies will be crucial to their jobs within the next five years. Moreover, there is a gap in knowledge between employers and employees on how AI could be utilized operationally.
This gap may be the cause of the concern that workers are experiencing over their job security, and it presents a significant opportunity for companies to collaborate with their teams to improve their skills and teach them about artificial intelligence.
Most individuals who participated in Randstad's most recent Workmonitor Pulse Survey agreed. Around 52% of construction workers feel that artificial intelligence would help their professional advancement and promotion rather than causing them to lose their jobs. An increase in the number of job listings that require AI abilities is evidence of this.
According to Randstad's tracking of such postings, there has been a 2,000% spike compared to only March. Additionally, regarding adopting AI in the workplace, nearly two-fifths of British workers (37%) are enthusiastic, a more prevalent sentiment than the apprehension voiced by one-third (33%). Thus, the construction industry's research shows that 11% fewer workers are optimistic about AI in the workplace than UK workers.
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