Exponential Growth of Technology

Technology innovation has always occurred at an exponential rate and has been starting to impact the $1 trillion construction industry at increasing rates.

D. Brown Management Profile Picture
Share

In many cases we don’t recognize innovation that is happening at an exponential rate because the starting point is so small that we only start to see the growth when it reaches a tipping point.

Sustainable Growth: Accelerating Technology Innovation. What does Technology look like in another 6 years? How does it impact your business?

Consider the changes that that occurred just in the mobile phone between 1983 when Motorola released the first “Brick” phone until 2005 when Nokia “Candy Bar” phones were ubiquitous.  The changes during that 22 years seem evolutionary because the phone pretty much did the same thing with each successive version being smaller, lighter and cheaper.  

Looking at the next 6 years and by 2011 contractors were starting to work collaboratively on plans with their mobile phones and now tablets thanks to companies like PlanGrid. Moving forward another 6 years to 2017 and you have augmented reality integrated with on-demand training being used in the construction industry.

Things are really starting to change quickly in the construction industry around technology.  What does 2025 look like? What about driverless vehicles? Automation? What is your team doing to put yourselves in a position where you have a competitive advantage or at minimum don’t lose your current position?  




Budgeting the Right Time for New Tools
Have you ever created a tool or process for your company only to find that people aren’t using it effectively and some don’t even know about it?
How Do You Prioritize?
This customer-first; projects-first focus is great in the earlier stages of development but starts to impact sustainable growth over time.
Markets (Benchmarks, Trends, Forecasts, and Predictions)
Benchmarks, trends, forecasts, and predictions about the market(s) that contractors work within including the overall economy, specific industry sectors, specific geographies, project delivery methods, regulations, and financing.