The Fourth Industrial Revolution And The Impact In The Construction Industry05-12-2019
Artificial Intelligence, self-driving cars, virtual reality- is this the way of the future? And how is it going to affect business? And what really does the Fourth Industrial Revolution mean? To put it simply, the Fourth Industrial Revolution is the fusion of technologies that is blurring the lines between the physical, digital, and biological spheres (1). As we have seen through recent years, technology is becoming more ingrained into our everyday life and significantly in business. This dependency on technology is now being coined as ‘Symbiosis’ and is a revolutionary development in pioneering an artificial biology between humans, products and constructions.
However, the technological transformations into the Fourth Industrial Revolution are not without consequences. Businesses must adapt their strategies otherwise they are at risk of being left in the Stone Age! Factors such as altering demand and supply in the market is essential for tracking consumer behaviour and consequently success rates.
For the construction industry, innovation is essential to stay successful as we enter the new wave of business. Because the construction sector relies heavily on manual labour and mechanical technology, productivity can deteriorate. Therefore, digital technology can enter and adapt, building up new skills for workers. Engaging with new technologies such as 3D printing and robotic equipment allows the construction industry to maximise the opportunities in the digital age on a large scale.
In summary, the upcoming changes faced as a result from the Fourth Industrial Revolution offer both advantages and drawbacks. Nonetheless, if innovation is at the forefront of thinking, it may be the change that many industries will welcome to see.