Tech News Summary:
- The EFCG released the results of its technology and innovation leadership benchmarking study in the AEC industry at its Rising Leaders Conference, highlighting companies shaping industry conversations and investing in customer solutions.
- The study revealed that technology strategy has become a priority for AEC companies, with a focus on digital technologies, AI, automation, and new ways of working. Companies leading in this area include GHD Digital, Jacobs, Parsons, Leidos, TRC, Worley, and Tetra Tech.
- GHD Digital was recognized for positioning GHD in the top quartile of the industry for revenue generated from technology, with 70% of its innovation budget devoted to customer-facing software. The company is committed to guiding clients through digital acceleration while supporting their initiatives.
EFCG, the leading investment bank and financial advisory firm for the architecture, engineering, construction, and technology industries, has just released a groundbreaking report on the AEC industry’s technology and innovation leadership.
The report, titled “Tech and Innovation Benchmarking: AEC Industry,” unveils the latest trends and developments in technology and innovation within the AEC sector. It provides an in-depth analysis of how AEC firms are leveraging technology to drive productivity, efficiency, and growth, as well as the emerging opportunities and challenges in the industry.
According to the report, AEC firms are increasingly embracing cutting-edge technologies such as Building Information Modeling (BIM), Augmented Reality (AR), Virtual Reality (VR), and artificial intelligence to streamline design and construction processes, improve project management, and enhance collaboration. These technologies are not only reshaping the way projects are conceived, designed, and built, but also offering new avenues for sustainability and environmental impact reduction.
Furthermore, the report highlights the growing influence of tech startups and digital disruptors in the AEC space, as well as the strategic partnerships and investments being made by established firms to stay ahead of the curve. It also sheds light on the evolving competitive landscape and the shifting dynamics of client expectations, as AEC firms are under pressure to deliver higher value and innovate at a rapid pace.
“We are at the cusp of a transformative period in the AEC industry, where technological advancements and innovation are driving unprecedented levels of change and opportunity,” said the CEO of EFCG. “Our report provides invaluable insights for AEC firms and technology providers to navigate this new era and capitalize on the immense potential for growth and success.”
The report is expected to serve as a valuable resource for AEC executives, investors, and industry stakeholders looking to gain a deeper understanding of the trends, challenges, and opportunities shaping the future of the AEC industry.
For more information on the report, visit the EFCG website.