Mid ongoing economic uncertainty and a looming recession, most industries have experienced massive budget cuts, layoffs, downsizing, and other measures intended to safeguard organizational profitability in today’s largely unstable market. Despite these widespread obstacles, the opposite has been true for the construction industry.
Following the introduction of the Infrastructure Investment and Jobs Act (IIJA) in 2021, billions of dollars are pushed into the construction sector as the United States addresses a critical need for updating infrastructure. Jobs were added, new projects were introduced, and the market is booming. This sounds like great news. Unfortunately, this creates its own set of challenges.
Increased spending and an influx of large, new projects require tools and resources that can help manage this growth. For the many contractors and construction companies who have been using the same outdated technologies or manual planning processes for years, this places them at a disadvantage.
As the construction sector continues to experience an influx of capital, there is a critical need for new technologies to support the pre-construction planning process. To allow these companies to keep pace with increased spending, streamline processes, and uphold ESG initiatives while continuing to drive innovation, construction executives must integrate new technology.
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