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Can Digitisation Set Construction Firms Apart?

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Recent industry reports indicate that the UK construction sector may be on the cusp of a revival following a period of uncertainty caused by the COVID-19 pandemic. According to the latest IHS Markit/CIPS UK Construction Purchasing Managers’ Index, construction activity in the UK rose to 55.3 in June 2020, signaling that companies are getting back to work.

These findings align with analysis from the Office for National Statistics, which recently reviewed the business impact of COVID-19 on the UK construction sector and identified an increase in the number of construction companies operating during June. But despite these gains, economic recovery will not be instant, and construction output in the final quarter of 2020 is widely estimated to fall below pre- COVID-19 levels.

Could cutting edge technologies play a role in helping the construction sector get back on its feet? Paul Cuatrecasas, founder and CEO at advisory firm Aquaa Partners, thinks so. Cuatrecasas is calling on the UK government to form a specialist taskforce to encourage the nation’s construction industry to adopt leading technologies. He argues that UK construction firms can increase efficiency and recover revenue by digitising their operations and partnering with, investing in, or utilising new technologies such as drones, robotics, the Internet of Things (IoT), and artificial intelligence...

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