Acquiring a robot often means making a significant investment in both up-front costs and time learning how to use it and incorporate it into existing processes. When profit margins are low, spending hard-earned revenue on innovation seems risky. And when deadlines loom, no one wants to interrupt inefficient but functioning workflows even if the long-term benefits far outweigh a short-term need to just get it done. These fears could explain why only 25% of construction firms admit to having a digital strategy, and only 9% say theyre prepared for the digital revolution. 3 However, not embracing REFERENCES 1. Growth Opportunities in the Global Construction Industry. https://www.researchandmarkets.com/ reports/4439921/growth-opportunities-in-the-global-construction 2. Reinventing Construction: A route to Higher Productivity. https://www.mckinsey.com/~/media/ McKinsey/Business%20Functions/Operations/Our%20Insights/Reinventing%20construction%20 through%20a%20productivity%20revolution/MGI-Reinventing-Construction-Executive-summary.pdf 3. Technological Advancements Disrupting the Global Construction Industry. https://www.docu - mentcloud.org/documents/6838866-Ottinger-Minglani-and-Gibson-Technological.html 4. Construction Industry Needs Additional 430,000 Craft Professionals in 2021. https://www. contractormag.com/construction-data/article/21159144/construction-industry-needs-addition - al-430000-craft-professionals-in-2021 5. 80 Percent of Contractors Report Difficulty Finding Qualified Workers. https://www.agc.org/news/2019/08/27/eighty-percent-contractors-report-difficulty-finding-quali - fied-craft-workers-hire-0 6. Harnessing Automation for a Future That Works. https://www.mckinsey.com/featured-insights/ digital-disruption/harnessing-automation-for-a-future-that-works 7. Having Shed Young Workers, the Construction Industry Needs Change. https://www.buildzoom. com/blog/having-shed-young-workers-the-construction-industry-needs-change 8. Connected Construction: A Better Way to Build Together. https://construction.autodesk.eu/resourc - es/construction-connected/ 9. USG + U.S. Chamber of Commerce Commercial Construction Index - 2019 Q4. https://www. uschamber.com/report/usg-us-chamber-of-commerce-commercial-construction-index-2019-q4 10. Shaping the Future of Construction: A Breakthrough in Mindset and Technology. http://www3. weforum.org/docs/WEF_Shaping_the_Future_of_Construction_full_report__.pdf Its time to be bold technologies that can boost productivity is, well, not productive. Companies need to anticipate digital disruption and get ahead of it before their competitors do. Developing a digital strategy can begin with a simple ROI assessment any contractor able to analyze project data and predict costs can determine if a new tech solution has value. But companies also need to be bold, which means developing budgets and establishing KPIs that enable their project managers to try new technologies, like robotics, without fear of failure. Those that find ways to identify long- term productivity gains through automation will be far better positioned in the future. 29 % of construction companies report already investing in technology to supplement worker duties 5 $1.2 trn Within 10 years, full-scale digitization could save the non-residential global construction industry up to $1.2 trillion in the design, engineering and construction phases and $0.5 trillion in the operations phase 10 70 % of contractors say that advanced technologies could increase productivity (78%), improve schedule (75%), and enhance safety (79%) 9 JOBSITE AUTOMATION 5 FIND OUT MORE Hilti US | Hilti Canada US Customer Service 1-800-879-8000 | CA Customer Service 1-800-363-4458