Construction sector lags behind in tech adoption | Report

Construction sector lags behind in tech adoption | Report

The construction industry globally is slow in adopting technology innovations despite a rise in project complexity and associated risks, according to a KPMG report quoted in the Financial Express. According to the report, just 8 per cent of the total 218 project owners and engineering & construction companies surveyed rank as ´cutting edge technology visionaries´, while 64 per cent of contractors and 73 per cent of project owners rank as ´industry followers´ or ´behind the curve´ when it comes to technology, shows the report named Building a technology advantage - Global Construction Survey 2016.

"The survey responses reflect the industry´s innate conservatism towards technologies, with most firms content to follow rather than lead," says Geno Armstrong, International Sector Leader, Engineering & Construction, KPMG. "Many lack a clear technology strategy, and either adopt it in a piecemeal fashion, or not at all." A higher proportion of Western companies are tech leaders, with Africa lagging behind. "For some, the cost and risk of adopting new technologies outweighs the perceived benefits, while others may be reluctant to move out of their comfort zone," the report said.

The delegation apprehended that this move might lead to closure of several units and also lay off thousands of workers.

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