Why You Need to Get Proactive about AI
Why You Need to Get Proactive About AI
AI can be transformative for design and construction companies, but it needs to be adopted in the right way.
Much has been written about AI, and while design and construction (AEC) companies are upping their investments, many are still waiting to see what happens before making the move. Unfortunately, at a time of rapid digital transformation, that might not be enough. To truly make the most of AI, you need to get proactive.
Attitudes to AI
When businesses think about AI, they probably fall into three main groups.
- Proactive: They are interested in AI and actively seeking ways to integrate it into their operations.
- Reactive: Businesses have heard about AI but aren’t sure what value they have. They are waiting to see what way the wind blows before deciding how to move forward.
- Inactive: Proud skeptics who still think it’s a long way off, AI has little relevance to their business or even represents a threat.
In the design and construction sectors, most people probably fall into ‘category two.’ They have heard about AI and believe it may have some value. However, they want to make sure they adopt it in the right way and are looking to see what others do before making their move. It feels like a sensible approach. AI is advanced and can be expensive. ROI can be uncertain and may take months or even years to materialize.
The problem is that technology is moving so quickly, and businesses are adopting so quickly that those who wait risk being left behind. For example, McKinsey says $50bn was invested in architecture, engineering, and construction technology between 2020 and 2022, an 85% rise compared to the previous three years. Data from Statista shows that all businesses, regardless of their sector, can dramatically increase revenue from AI.
AI‒Changing the game for design and construction
To run any successful project, you need insights into what has already been done in the past, what is happening now, and what needs to be done in the future. AI technology lets you see all that information in one place. You’ll see where you’ve been, what you’re doing and where you’re going, and how to optimize any design and construction projects.
AI-assisted design and construction technology can help create more effective designs and predict issues earlier in the process.
With this at their disposal, design and construction teams can reduce overall costs, improve their designs, make better use of their workforce, transform efficiencies, and open up new opportunities to better serve their clients. Lower operating costs mean businesses can pass those savings on to their clients. Not only can the time to market be accelerated, but products can potentially be delivered for a lower price.
Getting it right
The cautious wait-and-see approach, then, is riskier than it first seems, but that doesn’t mean you should charge forward without thinking. You need to move fast, but you also need to move smart, which brings us neatly to our final point.
At the beginning of this post, we talked about three groups—proactive, reactive, and inactive. To these, we need to add a fourth—hyperactive—those who know they need AI and are keen to adopt but don’t know how to do it. They sometimes end up chasing every innovation without much thought about how they intend to use it. Without a proper strategy, technology can be applied in a haphazard manner that delivers little real value to the company.
AI can be exciting, it can be wonderful, but like anything else, it is just a tool, and unless it has a clear purpose it won’t be much good. So, while it’s important to get on with your AI adoption strategy, you should still take time to think clearly and determine what you want to achieve and how you want your business to look before you move forward.
To do that, tie in your AI strategy to your wider business strategy and ensure everyone in your organization understands the technology and their role in implementing it. A good strategy is about much more than just investing in AI. It’s about understanding your objectives, identifying opportunities, and developing a data strategy that aligns with your business goals.
Finally, be realistic about what is going to happen. A real return on investment may not be immediate. It could take much more than six months to see it filter through. With patience, perseverance, and a robust strategy, though, you can harness the power of AI to transform every part of your business.
To achieve an effective AI integration, you need a clear strategy. At YegaTech, we can provide expert, personalized strategic advice to help you unlock the potential of AI and expand the horizons of your business.
