AI is the big new thing, and already, folks are coming up with countless ways they can use it. Some of these ideas, though, are downright ludicrous. While AI-powered text generation tools like ChatGPT, Copy.ai, and Jasper are incredibly impressive, their usefulness and practicality are very easy to oversell. I've seen countless "suggestions" in viral blog posts and Twitter threads that don't work--but look like they did because the generated text seems plausible. So, if you're thinking about adding any AI content generators to your workflow, there are a few things you should keep in mind.

Artificial Intelligence has definitely made our lives easier in multiple ways. We can access multiple benefits right through our smartphones with the power of digital assistants like Google Assistant, Siri, Alexa, and more. In today's world, multiple industries such as healthcare, e-commerce, financial services, etc., are leveraging the benefits of AI to the fullest of its potential. The technology has helped businesses grow in leaps and bounds with improved quality, security, and efficiency. However, it is observed that engineering and construction are lagging behind in implementing artificial intelligence and machine learning solutions.

In the 21st century, the concept of a twin need not be confined to fraternal or identical--a twin can be digital too. Digital twins have caught the eyes of some of the biggest companies in the world--Amazon and Nvidia, for instance, both made announcements about new digital-twin initiatives within the last month--as well as those of specialists like infrastructure engineering software company Bentley Systems. The concept started gaining traction at the beginning of the century, and picked up steam in the early 2010s when the rise of IoT made digital twins more feasible. As of 2020, it was estimated to be a $3.1 billion market, per Markets and Markets, and projected to grow into a $48.2 billion industry by 2026. So...what is a digital twin?

Maybe you've heard of the power of the Internet of Things (IoT) to transform industries, automate processes, and improve ROI. No industry is more ripe for change than construction and IoT has the potential to increase productivity, on-site safety, and operational efficiency. Through the deployment of low-power sensors, managers can improve worksite visibility at every stage of a project in real-time, from planning to construction, and even operation post-construction. While the construction industry is changing at a glacial pace, construction companies who are adopting technology to successfully address common workplace concerns and streamline processes are benefitting from increased efficiencies and improved responsiveness to the increasing demands of the industry. Flat productivity, decreased margins, more schedule overruns and increased competition are some of the obvious reasons construction companies should consider the adoption of IoT technology and digitization.

MIT spinoff OpenSpace invented automated 360-degree video jobsite capture and mapping. "It's not exactly an amazing observation," says CEO Jeevan Kalanithi, "but a picture really is worth a thousand words." In the world of real estate development, visual documentation of construction projects is critical. It aids in dispute resolution, prevents mistakes from being compounded, and allows for knowledge capture in case of change orders. Builders are often contractually obligated to document progress.

According to data from PitchBook, the funding for AI deals has continued its furious pace. In the latest quarter, the amount invested came to a record $31.6 billion. Note that there were 11 deals the closed more than $500 million. Granted, plenty of these startups will fade away or even go bust. But of course, some will ultimately disrupt industries and change the landscape of the global economy.

Venture Capital concept image with business icons and copyspace.For more variation of this image ... [ ] please visit my portfolio According to data from PitchBook, the funding for AI deals has continued its furious pace. In the latest quarter, the amount invested came to a record $31.6 billion. Note that there were 11 deals the closed more than $500 million. Granted, plenty of these startups will fade away or even go bust. But of course, some will ultimately disrupt industries and change the landscape of the global economy.

The greater availability of construction data and improved methods for analyzing it are expected to improve outcomes for contractors. We have now had several years to assess how technology will change construction. We've seen a technological onslaught with thousands of solutions being brought to market claiming to make the industry safer, more productive and less risky. Like any explosion of technology, the dust does eventually settle, and you begin to gain clarity around what is and isn't working. Within the construction technology space, it really does seem like the puzzle pieces are starting to fall into place in terms of what solutions will deliver the greatest impacts and which will be left behind.

If it's not broken don't fix it, right? Despite technological progress, it's not uncommon for construction companies to still rely on spreadsheets, manual data entry, and paperwork. Low IT budgets and lack of time for training have contributed to a hesitancy around adopting new methods and technology. There are real, practical applications and benefits to modernizing your current processes. And if your construction company wants to remain competitive and not be left behind, you'll need to find ways to integrate new approaches into your strategy and workflows. These cutting-edge technologies are drastically changing how the industry operates and how future projects will be completed.

People who work behind a computer screen all day take it for granted that everyone's work will be tracked and accessible when they collaborate with others. But if your job takes place out in the real world, managing projects can require a lot more effort. In construction, for example, general contractors and real estate developers often need someone to be physically present on a job site to verify work is done correctly and on time. They might also rely on a photographer or smartphone images to document a project's progress. Those imperfect solutions can lead to accountability issues, unnecessary change orders, and project delays.