What does the future of construction technology hold for industry and investors? Through more than a decade of work in construction tech and AEC-focused venture capital, Alice Leung has seen much of the technology being developed for construction in recent years, as well as the challenges forward-thinking tech startups face as they pursue adoption and implementation of their software within this hard-to-crack industry.

Navigating Major Programmes delves into the past, present, and future of construction technology as Riccardo speaks with Alice about the sector’s opportunities and limitations. They discuss the importance of sector expertise in venture capital, the evolution of AEC technology, and the impact of delivery models on technology adoption. Their conversation explores the significance of collaboration and the impact technology can have on this approach, as well as incentive alignment and the potential of robotics in addressing labour shortages. Alice’s take on cultural shifts that could lead to tech adoption and improve the safety and efficiency of building projects is both realistic and optimistic, emphasizing the rewarding nature of building long-lasting infrastructure.

Takeaways:

• The productivity and efficiency challenges inherent in traditional construction projects.
• The history of AEC investment and how venture capitalists and experienced industry professionals can work together.
• The importance of pursuing innovation in construction technology.
• How incentive alignment could help drive collaboration in construction.
• Why robotics might be the answer to some of the industry’s biggest challenges.

Quote:

“I ​think, ​you ​know, ​when ​you, there's ​a ​lot ​of, ​kind ​of ​different ​angles ​and ​different problems ​where ​you ​can ​really ​see ​this, right? ​One ​of ​​my ​favourite ​examples ​is ​obviously ​around ​BIM ​and VEC, ​right? ​Like, ​BIM ​has ​been ​around ​for ​a ​long ​time. ​Why ​hasn't ​it ​truly ​been ​adopted, right? ​And ​in ​theory you ​should ​have ​this ​federated ​model ​that ​everyone ​can ​leverage, right? ​That's ​the ​goal, ​right? ​Is ​like, ​you ​have ​this ​one ​single ​source ​of ​truth ​with ​everything ​that ​you ​need ​obviously ​to ​different ​complexities ​across ​the ​supply ​chain. ​But ​let's ​just ​pretend ​that ​we're ​in ​this ​perfect ​world ​right ​now ​where ​we ​have ​that ​fully ​coordinated ​model, ​everything ​makes ​sense. ​If ​we ​build ​off ​of ​it, ​we ​won't ​have ​any ​rework. ​We ​shouldn't ​have ​that ​many ​issues ​in ​the ​field. ​But ​if ​you ​think ​about ​just ​pure, ​if ​this ​was ​fixed ​price, ​contract, design, ​bid ​build ​with ​BIM, why ​does ​that ​fail? ​Because everyone ​needs ​a ​different ​level ​of ​detail. ​Everyone ​wants ​to ​maybe ​add ​or ​use ​different ​data ​in ​those ​models and ​to ​get ​to ​a ​model ​that ​is accurate ​enough ​for ​construction, ​you're ​really ​asking ​the ​design ​teams ​to ​put ​in ​so ​much ​more ​effort ​than ​really ​what ​they ​normally ​do. I ​think ​this ​is ​all ​about ​incentive ​alignment. ​And ​with ​the ​traditional ​contracting ​methods ​it's ​like, ​oh, ​why ​would ​I ​add ​more ​detail ​in ​my ​goodwill ​to ​help ​this ​other ​company ​who ​may ​​mess ​me ​up ​in ​the ​future, ​right?” - Alice Leung

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Music: "A New Tomorrow" by Chordial Music. Licensed through PremiumBeat.