Financial Impact of Umanned Systems, and Artificial Intelligence (AI) on Construction Industry and Project Management Practices
– Lack of innovation and delayed adaptation
– Fiscally conservative company culture resistant to new technologies
– Inadequate knowledge transfer and dissemination from project to project
– Weak project monitoring
Unmanned and Artificial Intelligence (AI) based systems are disruptive technologies that can improve the above mentioned shortcomings; however, this technologies are underutilized by the construction industry. The main focus of this paper is on:
- Analysis of the cultural readiness and resistance of construction industry/companies towards technology.
- Inefficient change management and change agent proficiency in construction industry
- Analysis of the financial impact of the unmanned systems and AI technology on construction industry.
The paper consists of both qualitative and qualitative analysis. The research measured the North American based construction companies, Technology Readiness Index (TRI) in terms of unmanned systems and AI implementation. Qualitative method was used to determine the root cause for the construction industry’s cultural and organizational resistance towards integration of Unmanned and AI based systems into their practice. Quantitative method was used to determine the potential financial impact of disruptive technologies (unmanned and AI systems) on construction industry and particularly construction project management practices.
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