Global Construction Software Market Expected to Surge
News Summary The global construction software market is set to grow significantly, projected to reach USD 7.5 billion, driven by the need for cohesive digital solutions and automation. Factors such as integrated planning tools, cloud-hosted platforms, and AI technology are enhancing efficiency and transparency in construction processes. North America leads the market, while Asia Pacific […]
Illinois Ranks Low in New Home Construction Amid National Housing Crisis
News Summary A recent study has ranked Illinois 47th out of 50 states in new home construction, showcasing significant challenges for homebuyers and renters amidst a national housing crisis. With only 3.7 new housing units built for every 1,000 existing homes, the state’s performance is concerning as many face issues with affordability in a competitive […]
Decline in Trust and Pragmatic Approach Marks AI Adoption in Construction
News Summary The construction industry is experiencing a decline in trust regarding AI adoption, with only 68% of leaders believing AI will positively impact their sector. This skepticism reflects a hype cycle phenomenon and highlights challenges related to data quality and the tech skills gap. Companies must focus on effective training and data governance practices […]
Knock The Builder Transforms Construction Management in India with Digital Solutions
News Summary Knock The Builder is revolutionizing the construction sector in India by leveraging digital solutions that eliminate the need for physical site visits. Founded in 2023, this innovative company integrates Virtual Reality (VR) with project management, architecture, and interior design. Their platform streamlines project updates and approvals, fostering trust and transparency in construction management. […]
Generation Mining Expands Board to Enhance Project Development
News Summary Generation Mining Limited has appointed Kyle Kuntz to its Board of Directors to strengthen development and construction expertise as the company advances its Marathon Copper-Palladium Project. Kuntz brings over a decade of experience in large-scale mining projects and is expected to play a vital role in transitioning the project towards its construction phase. […]
Groundbreaking for New Green Meadow Elementary School in Maynard
News Summary CTA Construction Managers has broken ground on the new Green Meadow Elementary School in Maynard, MA. The 90,525 square-foot facility will accommodate around 395 students, featuring a Pre-K program and various educational resources. The project, led by Mount Vernon Group Architects, emphasizes sustainable building practices while enhancing local educational infrastructure. With a planned […]
AI Adoption Accelerates Across Small Businesses
News Summary Small businesses are rapidly adopting artificial intelligence (AI) to enhance operations and address various challenges. AI is proving valuable in areas like staffing, customer engagement, and data analysis. By combining human efforts with AI, businesses can improve service delivery while maintaining a personal touch. Gradual implementation strategies, known as ‘microtransformations,’ are being advised […]
Surge in AI Adoption Among Construction and Design Pros
News Summary A new report from Houzz Inc. reveals a significant rise in the adoption of Artificial Intelligence (AI) within the construction and design sectors. Approximately 34% of over 700 surveyed professionals are already incorporating AI into their workflows, leading to substantial productivity gains and time savings. Many expect AI to transform the industry in […]
Federal Reserve’s Q2 Report Highlights Growth in Construction and Engineering Sector
News Summary The Federal Reserve’s latest report indicates that the Construction & Engineering sector has shown significant growth, outperforming slower industrial sectors. Fueled by government spending, particularly in infrastructure, the sector has benefitted from a 0.3% rise in the Construction Supplies index and a notable 3% annual growth in civil engineering. However, defensive sectors like […]
Exyte Reports Sales Decline, Yet Plans Expansion
News Summary Exyte GmbH has reported a significant sales decline of 4.7%, totaling €7.1 billion, primarily due to completed mega-projects in Asia. Despite this, the company is optimistic about future growth, focusing on expanding into North America and Europe, where it experienced a surge in order intake, especially in the semiconductor sector. The company’s investments […]