For INNOVATION & CHANGE : Perform a full analysis on how this new technology wil
ID: 377212 • Letter: F
Question
For INNOVATION & CHANGE : Perform a full analysis on how this new technology will disrupt the construction industry domestically.. What areas specifically will be impacted? how much? in 5 years , 10 years ? who will be the new losers and winners in that market sector? How will major construction firms change how they operate? Which kinds of workers will have to be retrained? how will this impact the job market? provide specific metrics. What areas will be affected by global implementation? How is this different from the impact domestically? Who will benefit? how can this change global trends? What current global housing needs exist?For INNOVATION & CHANGE : Perform a full analysis on how this new technology will disrupt the construction industry domestically.. What areas specifically will be impacted? how much? in 5 years , 10 years ? who will be the new losers and winners in that market sector? How will major construction firms change how they operate? Which kinds of workers will have to be retrained? how will this impact the job market? provide specific metrics. What areas will be affected by global implementation? How is this different from the impact domestically? Who will benefit? how can this change global trends? What current global housing needs exist?
For INNOVATION & CHANGE : Perform a full analysis on how this new technology will disrupt the construction industry domestically.. What areas specifically will be impacted? how much? in 5 years , 10 years ? who will be the new losers and winners in that market sector? How will major construction firms change how they operate? Which kinds of workers will have to be retrained? how will this impact the job market? provide specific metrics. What areas will be affected by global implementation? How is this different from the impact domestically? Who will benefit? how can this change global trends? What current global housing needs exist?
Explanation / Answer
Technology is playing a very important role in changing Industries. Construction industries have been changed drastically with the help of the ever growing Technologies. From heavy machines to the raw material management as well as different Electronical equipments which have provided advantage in the construction industry.
Some factors which have influence the construction industry and technological aspects are as follows.
Advanced communication
Communication is an essential task in construction industry. As the communication takes place, wireless devices as well as different technological devices which are used to communicate in construction industry. Advancement in these technical devices have increased efficiency of the construction work and has played a very important role in creating better working environment.
Advanced equipments
As the technology of it also increased the level of advancement in equipments which directly increased level of efficiency as well as productivity of the construction business. This advancement of the construction business directly increase the level of implementation towards the specific industry and has provided a better working platform.
Advanced designing techniques
New softwares and powerful computers are directly influencing the overall design which was previously done by hands. As the machines are getting advanced, level and complexity of the designs is also increasing which is resulting in better designs as well as more efficient Constructions which using different digital survey as well as traditional survey methods and later be applied on these construction Industries to forecast the specific need of the society and to work accordingly.are better from both ways. In terms of the industrial design, bigger factories and plants are getting designed over the softwares and space is most efficiently used.
In next 5 years these construction Industries would go readily as the technological advancement is happening in real time. This is specific advancement of the technology is directly influencing the overall position of the construction industry by a large margin. Bigger companies who invest larger investments into the industry would be benefited at a large scale and the small companies would also gain advantage be able to compete with the larger company as they already have Monopoly in this industry. Construction business is all about capital and the bigger companies already have acquired a bigger market segment which would lead them.
In next 10 years Monopoly of the bigger brands would be stable and the technological advancement would be at its peak. This is specific situation would directly increase the revenue generation for larger companies and small companies would be washed out from the market but the local and regional companies using ecological impact if services would remain effective.
Major Constructions firms would change accordingly as per the requirements of the society. These requirements of the society would be measured by different survey methods and this forecast would be done according to the needs of the society by the construction industries.
Traditional workers who don't know how to operate the technological devices as well as digital devices would have to be read train for the specific scenario. As most of the business is going digital hence training of these skilled workers would be very important as they don't know how to operate the device is would directly decrease the overall efficiency as well as productivity of the organisation.
This would definitely impact the job market as the technological advancement would also bring automation into the construction industry which would directly reduce the overall number of jobs and would be a major reason for the layoff from the construction industry.
Global implementation would directly affect the level of jobs provided by this is specific segment. Bigger constructions would be done in lesser time hence it would directly decrease the overall time of the labour resulting unemployment for the labours.
Domestically the effect of larger forms construction would be very less as they use the local forms this would directly increase the level of efficiency for the local forms by implementing different technological aspects into the construction. by using the better machines the overall ever
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