The World Economic Forum<\/strong> and The Boston Consulting Group<\/strong> recently released a report <\/a>to encourage innovators redefine the AEC industry. They give recommendations and feature\u00a0ten lighthouse innovation case studies to demonstrate the potential of innovation.<\/p>\n The report is the second publication of the multi-year Future of Construction<\/strong> project. The first report<\/a> showed how many innovations have emerged but have not yet been broadly adopted. The second report suggests remedies, drawing key lessons and policy recommendations from leading innovators and disruptors.<\/p>\n Construction is the largest global consumer of raw materials, and the built environment accounts for 25-40% of the world\u2019s total carbon emissions. Globally, construction generates annual revenues of almost $10 trillion and\u00a0accounts for 6% of global GDP.<\/p>\n The report mentions several global megatrends that will increase\u00a0the importance\u00a0of\u00a0construction: migration into urban areas, climate change and a new global push for infrastructure.<\/p>\n According to the report, the industry\u2019s transformation is, and must be, driven by the private sector. However, governments play an important role. They can pursue policies that advance the adoption of innovation. A governments can act as<\/p>\n The public sector in general has a very important role as a\u00a0construction client. Finland serves as an example where all the three roles of the government \u00a0in this respect are\u00a0actively pursued.<\/p>\n The report outlines nine key success factors for innovation in the construction ecosystem:<\/p>\n Stimulate innovations<\/strong><\/p>\n Turn ideas into reality<\/strong><\/p>\n Succeed in the market<\/strong><\/p>\n Most of the suggestions are familiar to those who have tried to advance innovation in the construction industry. The customer-centric approach, for example, has been on the agenda for well over 10 years. The interesting question is how willing and able the established players in the industry are to follow these recommendations.<\/p>\n Digital disruption is not limited by industry boundaries. In fact, too much insider knowledge can become a curse. As an example, the report mentions Gijs van Velden<\/strong>, CEO and Co-Founder of the robotics 3D-printing start-up MX3D<\/strong>. \u00a0He said that he and his colleagues \u201cwere lucky not to have too many \u2018builders\u2019 in the group\u201d and so were able to take a fresh view and embark on the venture to revolutionize construction.<\/p>\n The Lighthouse innovation case studies feature state-of-the-art implementations, start-ups, and pilot projects:<\/p>\n As concluding thoughts, the report authors outline six challenges that necessitate innovation:<\/p>\n The World Economic Forum\u2019s Future of Construction initiative established six working groups to develop solutions to the six challenges. These groups comprise more than 60 experts who have now jointly produced more than 45 mini-essays. They each propose a solution and describe its potential impact, the barriers inhibiting its implementation, and the next steps needed for making it a reality. The mini-essays are accessible on the project\u2019s knowledge sharing platform at www.futureofconstruction.org<\/a>.<\/p>\n SOURCE:<\/strong> Shaping the Future of Construction Inspiring innovators redefine the industrythe report<\/a><\/p>\n<\/div>\nConstruction is increasingly important<\/h2>\n
Companies Drive, but Governments Need to be Active<\/h2>\n
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<\/p>\nNine Key Success Factors for Innovation<\/h2>\n
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<\/p>\nThe Lighthouse Case Studies<\/h2>\n
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The Way Forward<\/h2>\n
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