AI Revolutionizing the Construction Industry: Boosting Productivity, Safety and ESG Credentials [Yahoo! Finance]
AECOM (ACM)
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Source: Yahoo! Finance
Dublin, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The "AI in Construction - Strategic Intelligence" report has been added to ResearchAndMarkets.com's offering. The construction industry has been slower than other sectors in implementing AI as it is one of the least digitalized industries. However, construction companies are increasingly investing in AI technologies to improve their environmental, social, and governance (ESG) credentials, boost productivity and safety, and address supply chain disruptions and labor shortages. Key Highlights For decades, artificial intelligence (AI) was the domain of university and corporate R&D labs. Recent progress in machine learning (ML) on the back of improved algorithms (e.g., Google's AlphaGo, OpenAI's GPT-3) and increasing computing power have enabled AI to solve real-life problems. The analyst estimates the total AI market will be worth $1 trillion by 2030, up from $103 billion in 2023 at a compound annual growth rate of 39%. The construction
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