Construction Business AI Myths

Construction Business

Many construction business firms are family-owned and operated. There are plenty of variables and challenges to construction company management these days, but one thing’s for sure: Today’s building and supply chain environment works nothing like your grandparents’ or parents’.

A construction business legacy is an advantage. But IndustryDive and studioID say legacy software for supply chain solutions can be holding you back.

If you’re a contractor managing a company, developing a business, and working onsite on one or more projects, you’re looking for time- and money-saving solutions to the supply chain and construction business volatility that has become the new normal.

You know about AI. Artificial intelligence is empowering our industry and delivering greater efficiency, forecasting, safety, and more.

Here are 4 AI myth-busters:

  1. AI causes jobs to be lost – Talent shortage causes include working in an environment where there are few challenges and/or even fewer opportunities for growth. Jobs are not being reduced with AI implementation. In fact, your construction business personnel can have more capabilities and greater opportunities to develop.
  2. AI investments cost too much – The right decision-making application delivers faster ROI. What’s important is implementing a system that works with existing, real-time processes in place.
  3. AI predictions can’t be trusted – It’s important to be able to see what information leads to the desired outcome. Successful decision intelligence involves input from commercial and technical teams in addition to transparency.
  4. It’s a bad time to invest in AI – The opposite is true. Your need for greater efficiency is only going to increase and delays cost money: McKinsey says successful AI implementation has already improved construction business supply change logistics costs by 15%, inventory levels by 35%, and service levels by 65%. “It’s a journey, and it has to start somewhere,” says Lauren Wright, EMEA sales manager, CPG, for Peak.

Software that delivers decision-driving data for better business operations makes sense. A lot depends on partnering with the right provider.

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Our blog is for informational purposes. We don’t endorse nor recommend any software brand.

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