‘For the people who were mentioning the fear from Silicon Valley. I am Silicon Valley. Get over the fear. Silicon Valley has already stepped into construction, and I am part of it.’
AEC technophile Rohit Arora—who joined the design-build startup Katerra in April as a Product Excellence engineer—put his thoughts on AEC tech innovation quite bluntly at BD+C’s Accelerate Live! conference this past May. But it needed to be said.
Talk after talk at the event referenced the AEC market’s ongoing angst about a tech-industry takeover of AEC, with traditional companies getting squeezed out by hotshot VC-backed startups and enterprising design and construction firms. Arora’s advice for the traditionalists: “Embrace technology. Do not fear. You can shape it.”
I don’t need to tell you about the profound impacts that technological advancements are having on architecture, engineering, and construction. However, I suggest that the pace of innovation and the rate of tech adoption by AEC firms have taken on a Moore’s law-like stride.
This past April, while attending an industry event targeted at GCs and subcontractors, I sat in on a two-hour breakout session focused solely on disruptive construction technologies (yes, 120 minutes!). The speaker, a well-known AEC technology expert, flipped through slide after slide—well more than 60 slides in all—each with a specific technology tool or application, and how construction firms are utilizing the innovation. Labor tracking, BIM/VDC optimization, multi-user VR coordination, indoor drones, rules-based clash detection, exoskeletons, smart tools, 360 cameras for creating detailed 3D models, and AI for everything from construction scheduling to language translation on the jobsite. The applications went on and on, and that talk was just for construction companies. The speaker could easily put together a two-hour talk on emerging tech for architects. And one for engineers. And one for building owners and facilities professionals.
And based on the amount of venture capital funding that is flooding into the commercial construction field, two hours may no longer be enough to cover emerging technologies. JLL, in a new report, found that VC firms invested a record $1.05 billion in construction technology startup companies during the first half of 2018. That is nearly 30% more VC funding than during the same period in 2017, and it adds to the more than $3 billion in funding since 2009, across 478 construction technology deals.
In my nearly two decades covering commercial construction, there has never been a more compelling time to report on this $500 billion industry. On one hand, it’s exhilarating to see the incredible opportunities that lie ahead for enterprising firms. On the other hand, I empathize with firms that are struggling to keep up.
Related Stories
| Aug 11, 2010
McCarthy, Skanska among nation's largest healthcare contractors, according to BD+C's Giants 300 report
A ranking of the Top 50 Healthcare Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Turner, Webcor, Hensel Phelps top BD+C's list of the 75 largest green contractors
With more than $3 billion in value of construction put in place for green buildings in 2008, Turner Construction tops BD+C’s ranking of the nation’s 75 largest green contractors, published as part of the Giants 300 report. Webcor Builders ($2.27 billion), Hensel Phelps Construction ($2.10 billion), The Whiting-Turner Contracting Co. ($1.97 billion), and Clark Group ($1.89 billion) round out the top five.
| Aug 11, 2010
Free waterproofing and roofing resource handbook available from American Hydrotech
American Hydrotech is now offering a waterproofing and roofing resource handbook for all architects and design community professionals. Topics include sustainable design, waterproof product specification, and proper installation techniques for use by building professionals in designing and waterproofing roof decks, plazas, vertical foundations, reflecting pools, and green roof applications.
| Aug 11, 2010
Perkins Eastman designing next gen trading floor for NYSE EURONEXT
The New York office of international design and architecture firm Perkins Eastman has been commissioned by NYSE Euronext to design the “next generation trading floor” through extensive renovations to the floor’s Main Room, replacing traditional broker booths with modern trading desks, new screens and workspaces, and a new network while creating a unified trading environment.
| Aug 11, 2010
National Association of Governors adopts AIA policy of reaching carbon neutrality in buildings by 2030
As part of their comprehensive national Energy Conservation and Improved Energy Efficiency policy, the National Association of Governors (NGA) has adopted the promotion of carbon neutral new and renovated buildings by 2030 as outlined by the American Institute of Architects (AIA).
| Aug 11, 2010
World-Class Revival on Utah’s Capitol Hill
Since 1916, the Utah State Capitol building has served as the foundation of Utah’s government, housing the state legislature operations as well as the offices of the governor, attorney general, and treasurer. But after decades of wear and tear and numerous short-sighted modernization attempts, Utah’s rock was on the verge of crumbling.
| Aug 11, 2010
MulvannyG2 Architecture wins “Best Mixed-use Development—Future” award
MulvannyG2 Architecture’s project, Aquapearl in Taipei, Taiwan, was honored by Cityscape Asia 2009 as the “Best Mixed-use Development -Future” on May 20, 2009 at the annual conference in Singapore.
| Aug 11, 2010
IFMA announces new Religious Facilities Community of practice
The International Facility Management Association is pleased to announce the formation of the Religious Facilities Community, a new community of practice devoted to those who work as full-time, part-time or volunteer facility managers in their houses of worship. IFMA’s communities of practice are organized special interest groups that unite members of specific industries not represented by the association’s councils.
