When you think about Artificial Intelligence (AI), it’s more than just your Amazon Alexa, Siri or smart speaker. Experts say that it’ll become more and more prominent in your everyday life. In this article, you’ll learn how AI is impacting home builders and developers, revolutionizing the construction industry and how it will evolve to benefit all industries.
The construction industry has withstood the challenge of digitalization for a long time. However, it’s time for companies to exploit the full potential of AI and machine learning (ML). Implementation of AI can represent a significant investment for developers and builders, but the benefits can far exceed the initial investment outlay.
AI still needs time to grow, learn and adapt. AI is poised to make significant progress in the coming years to become far more commonplace. The technology allows machines to learn independently and helps computers analyze large amounts of data during the decision-making process.
Some of the world’s largest construction companies, such as General Electric (GE) and Siemens, have already invested in integrating artificial intelligence. These companies have also taken the lead in the mass acceptance and conversion of its capabilities.
I predict that these efforts will lead to the development of the necessary skills so that AI can play a more significant role in the builder and developer industry for many years to come. AI-based applications and use cases are already proving themselves successful in other industries.
The engineering and construction sector will have to catch up if AI is to work in this industry. The lowering of market barriers is reinforced by the increasing ability of AI methods to be developed in any industry. We will see progress in the medium and long term.
Although the home builder and developer industry haven’t seen a great deal of an AI impact yet, consider the changes happening in the automotive sector. While artificial intelligence is being implemented at breakneck speed in a variety of sectors, the way it is used in the automotive industry is extraordinary.
Automakers around the world use it to build cars already. AI can oversee a robot work its magic assembling the first bolts and nuts of a vehicle, all the way to using ML and vision to take that very car to safely navigate through traffic. Imagine using it to assist in home construction… we’ll get to that later.
Self-driving cars are a great example of harnessing the power of artificial intelligence. While the first fully autonomous vehicles have yet to hit the market, several companies, including Google and Tesla, are working tirelessly to perfect the technology.
In industries that are not traditionally automated, construction robots will have a huge impact on revolutionizing the home builder and developer industry. Think about how robots and artificial intelligence could improve the outcome of your business.
Automation is coming, and some of the biggest and best are already planning for its arrival. Embrace new technologies that could affect the scalability of your businesses and look forward to a more productive and lucrative future. Getting out of your comfort zone and into AI might feel uneasy at first, but the advancements can mean significant monetary gains for you.
There are millions of growing businesses in the US, and the last thing you want is for your home building or developer business to fall behind because of a lack of acceptance of artificial intelligence knowledge or hesitation.
It’s vital to know what AI can really do for your business to take full advantage of its features. Knowing the basics of artificial intelligence is especially useful in the consumer-driven market. Failure to understand how AI works can hamper a home builder’s or developer’s marketing strategy before it can be integrated.
Moreover, the future introduction of artificial intelligence is guaranteed to improve the quality of life of millions of people around the world. According to a survey by Gartner, 27% of financial companies will use artificial intelligence in 2020.
It’s not just the car industry nor the financial that are seeing significant advancements to AI. It’s an impact on the entire world, which includes how your homebuyers operate. Consider its growth already within your own personal devices and technologies.
Research suggests AI will soon permeate every aspect of our daily lives. From transportation, health care, education, finance, transportation, to even entertainment, expect AI to grow right with the human population.
An AI database system can inform engineers at the planning stage about the best construction methods for a site based on its size, location and other factors. Once construction has started, AI can be used to allow workers to enter sick days and leave days into the data system, making it easier to manage your construction team.
In addition, it can help to improve your ability to evaluate previous projects and bids, replicate what was successful in the application process, and avoid elements of failure.
The White House’s proposed AI guidelines address some of the biggest concerns that AI has as a technology. Today, companies also need to consider AI-based hiring algorithms more effective in deciding whether or not a candidate deserves an interview. AI can look at a specific candidate and their work history to see if they are a good fit for you.
The next time you have an opening in your team, consider using AI for an easier interviewing process. For example, let it weed out unqualified candidates for you so you can better focus your time on hiring the right person. Here are some examples of AI-based hiring platforms:
Let’s look at some of the likely future applications of AI that will make our lives easier. The applications of this technology can go far beyond the current uses in the transportation and financial sectors.
With companies like Google, Uber, and General Motors working hard to establish themselves at the forefront of their markets, the idea of artificial intelligence and guided transportation systems. This will probably become a reality in the coming years.
Algorithms that enable machines to learn without human input, such as autonomous vehicles, drones, robots, and artificial intelligence, will be crucial to ensuring that these systems function smoothly and efficiently.
As you can see, these AI impacts on home builders and developers go far beyond just our industry. In conclusion, AI is here. It’s constantly improving and will only enhance the way we all run our businesses in the future.
How do you see the future with AI implementation? Let me know in the comments.
About Terry Zelen
Creative Director | Consultant | Author | President of Zelen Communications
Terry Zelen is a seasoned Creative Director with more than 35 years of experience in Home Builder advertising and marketing.
He is the founder of The Punch List, which is an online blog to help inform home builders and developers on strategic marketing insights to fuel their firm.
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