COVID-19 has piled on a new set of challenges for businesses, especially affecting the infrastructure sector. These challenges have paved the path for the digitization of construction businesses where every activity and communication are completely contactless while opening a plethora of capabilities relevant to the changing reality.
Digitization empowers enterprises with enhanced customer experience and reduces the scope for human errors. It also helps the infrastructure economy to look beyond the immediate threats by increasing its dependency on technology and sustain long-term continuity.
Changing role of IoT –
The role of technologies like AI and IoT is constantly being shifted from a business enabler to a continuity agent and now a progress catalyst for construction players. The scope of its transformation primarily comprises operations management for infrastructure to help lower the cost per area for Engineering, Construction & Infrastructure enterprises.
IoT, being the most widely accepted technology in the infrastructure sector, is gaining importance in transforming the way the sector operates and the way capital projects are carried out. Other emerging technologies like RPA and AI will also play a significant part in resolving the world’s infrastructure challenges. The widespread adoption has already redefined the way we communicate and collaborate.
IoT the bedrock of transformation in the post-covid world –
Now in the recovering economy, innovation and cloud-based platforms integrated with ERP applications are raising the bar by creating a hyper collaborative environment, bringing all the stakeholders under one umbrella.
IoT being the foundation for other solutions is addressing dynamic workplace concerns like team coordination, streamlining workflows, improving responsiveness, and more. It sources and gathers data from various departments like design, construction, and operations for various business operations.
The way forward –
In the changing reality, construction enterprises can leverage the technology to facilitate adoption of data-rich 3D models, cloud-based on-site and off-site project communications, and constructible BIM for error-free construction. It will support them with a better evaluation of the current reality of the infrastructure industry and leverage new opportunities. With many companies looking to pace up their overdue projects, IoT solutions will become a necessity in the post-covid world.
It will offer project visibility through real-time tracking of construction equipment and other efficiencies of equipment including fuel consumption to get a comprehensive view of its functionality for business. IoT helps lower the cost of organization’s day-to-day operations through real-time tracking of equipment that provide analytical data for the evaluation of ongoing projects. It is estimated that full-scale digitization in non-residential construction alone could lead to annual savings of between $700 billion to $1.2 trillion.
We are on the path to explore industry-wide effective project budgeting, planning, and estimation through digitization. In addition, it will allow sustainable management of assets, inventory, procurement, customer relationship, etc. The role of ERP channeled through IoT in the recovering infrastructure sector is essential to recover from the effects of the pandemic.
Highbar Technocrat is one of the leading end-to-end IT solution providers for the Infrastructure, EC&O, Real Estate, and Power sectors. They are SAP Gold partner and offer a wide bouquet of digitally integrated solutions ranging from implementing SAP-based ERP solutions like Rise with S/4HANA, Cloud-based solutions to 5D BIM for mega infra-projects, RPA & IoT solutions, and many more. With an in-depth understanding and core competence of the construction & infrastructure industry, Highbar is the perfect blend of domain knowledge in the infrastructure business with a team that is well equipped to understand and relate to the requirements of the sector.
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