How construction technology is driving the UK economy. 

The UK economy is nose-diving down a rocky road due to several reasons ranging from rising energy costs to the lingering aftermath of the Covid-19 pandemic. According to the Office for National Statistics, business investment fell by 2.5% in the third quarter of 2022 alone, whilst more consumer-related factors like mortgage rates saw a 0.5% increase from 3 to 3.5%, adding to nationwide economic instability.

The construction industry makes up a significant chunk of the UK economy, valued at $448.8bn in 2021. However, it has not been immune to the economic hardship facing the country. Recent hardship has challenged industry leaders to think outside the box to increase building efficiency and boost low profit margins across the sector. The rapid digital transformation and evolution of technology available to construction workers may provide some relief for the UK’s economy by offering new and improved ways of working. 

TECHNOLOGY WILL HELP EASE PRESSURE ON THE INDUSTRY 

UK construction has historically played a vital role in safeguarding and improving the health of the economy, and accounted for around 6% of the total economic output in 2019. More recently, however, it has come under some strain with hundreds of companies closing down each month due to rising material costs, labour shortages, and disruption to supply chains. Increasingly available digital technologies, like cutting-edge tools, specifically Augmented Reality (AR) for example, are offering construction teams ways to fine-tune building methods and lower project costs. The adoption of the latest technology in construction will ultimately keep control of cost inflation and streamline manual processes. It will also ensure projects are delivered in a timely manner and within budget. 

DIGITAL TWINS PROVIDE CONSTRUCTION PROFESSIONALS WITH A PROJECT OVERVIEW 

Let’s explore how exactly emerging technologies are being used today. 

Digital twins are a perfect case in point, allowing construction professionals to create a digital version of their project and interact with it as the real structure is built. The ability to monitor a structure in real time is invaluable in construction as it allows field engineers on the ground and teams working offsite to communicate and share valuable insights into projects as they unfold. This proactive surveying helps to eliminate instances of reactive, energy intensive and costly rework (redoing work due to errors), by uncovering important data about structures and improving the analytic abilities of Building Information Modelling (BIM), a pillar of modern-day construction. In turn, eliminating rework alleviates financial pressure and cuts lengthy project timelines. This not only improves efficiency and productivity, but also reduces unnecessary costs, which can be put back into the economy. 

STREAMLINE PLANNING AND VISUALISE MODELS WITH AR TOOLS 

Another growing technology that is reducing construction costs is AR. Capable of being used throughout the entire lifecycle of a project, AR-enabled tools can streamline planning and operational processes by giving construction teams the ability to visualise holograms of 3D models in real time and compare structures against them, enhancing both efficiency and accuracy down to as much as 5 millimetres using the latest Engineering-Grade AR tools. 

Working in tandem with innovations like digital twins and AR, LiDAR is another evolving technology that allows construction professionals to make accurate measurements. An acronym for Light Detecting and Ranging technology, LiDAR works by emitting a laser from a source or transmitter that is directed by the user onto an object. It then reflects off back to a receiver and the time of flight or TOF determines the distance. 

CURRENT INNOVATIVE TECHNOLOGIES ARE JUST THE TIP OF THE ICEBERG 

These are just a few examples of the innovations we are seeing but the list goes on and there will be more to come as currently available tools are improved while the adoption of technologies still in their infancy within the sector grows. The underlying trend we are seeing across the industry is the increased digitalisation of processes and improved capacity to share information across different teams in real-time. 

With more accurate data, available at the touch of a button, construction teams are better equipped to predict issues like inaccuracies when building that can lead to mistakes and unnecessary costs. More and more hardware incorporating the latest budding technologies like AR is becoming available and the collaborative software to gel it all together is following suit. 

If the sector is to save money and aid the UK’s finances, implementing the latest technology into construction is a must. The sector has traditionally been slow to adopt new technologies, slowed by a lack of investment due to industry-wide low profit margins however as already-proven technologies like AR are being picked up and further R&D provides greater insights into the potential ROI we are seeing an uptick in new game changing technology. 

Contemporary construction is already harnessing the powers of digital innovations like Building information Modelling and it’s a case now of building on this progress and taking things to the next level by amalgamating different software and tools. While investments in new technology will cost the construction industry in the short-term, it’s a crucial step in creating a more resilient future for the industry and UK economy under the umbrella of an evolving digital ecosystem.

David Mitchell

Founder & CEO, XYZ Reality

Choose an AI solution to transform beyond technology

Kit Cox • 09th December 2024

The first step is knowing exactly what your business wants to achieve with AI; think faster, smarter and more efficient. Once you know what you are working towards, you can start looking for a solution that can help you make it a reality. AI integration can feel like a daunting task at the beginning, so...

A Roadmap to Security and Privacy Compliance

John Lynch Director of Kiteworks • 04th December 2024

Only by understanding the current regulatory environment and implementing robust data protection measures, can organisations enhance their security posture, ensure compliance, and build resilience against the latest cyber threats. This article provides a comprehensive roadmap of how to do it.

Data-Sharing Done Right: Finding the Best Business Approach

Bart Koek • 20th November 2024

To ensure data is not only available, but also accessible to those that need it, businesses recognise that it is vital to focus on collecting, sorting and governing all the data in their organisation. But what happens when data also needs to be accessed and shared across the business? That is where organisations discover a...

Nova: The Ultimate AI-Powered Martech Solution for Boosting Sales, Marketing...

Erin Lanahan • 19th November 2024

Discover how Nova, the AI-powered engine behind Launched, revolutionises Martech by automating sales and marketing tasks, enhancing personalisation, and delivering unmatched ROI. With advanced intent data integration, revenue attribution, and real-time insights, Nova empowers businesses to scale, streamline operations, and outperform competitors like 6Sense and 11x.ai. Experience the future of Martech with Nova’s transformative AI...

How E-commerce Marketers Can Win Black Friday

Sue Azari • 11th November 2024

As new global eCommerce players expand their influence across both European and US markets, traditional brands are navigating a rapidly shifting landscape. These fast-growing Asian platforms have gained traction by offering ultra-low prices, rapid product turnarounds, heavy investment in paid user acquisition, and leveraging viral social media trends to create demand almost in real-time. This...

Why microgrids are big news

Craig Tropea • 31st October 2024

As the world continues its march towards a greener future, businesses, communities, and individuals alike are all increasingly turning towards renewable energy sources to power their operations. What is most interesting, though, is how many of them are taking the pro-active position of researching, selecting, and implementing their preferred solutions without the assistance of traditional...

Is automation the silver bullet for customer retention?

Carter Busse • 22nd October 2024

CX innovation has accelerated rapidly since 2020, as business and consumer expectations evolved dramatically during the Covid-19 pandemic. Now, finding the best way to engage and respond to customers has become a top business priority and a key business challenge. Not only do customers expect the highest standard, but companies are prioritising superb CX to...