Doing and Becoming Something New – Why Innovation Matters
As pointed out in an Autodesk University blog in January 2022, innovation has its own lifecycle. Things that are innovative become standard. Things that are standard become expected. Then they become dated, and finally they are obsolete.
This points up the need to stay informed about innovative technologies and be intentional about either ignoring them, watching their development or adopting them.
There are reasons why companies should not wait until an innovation becomes dated to begin adopting it. When you’ve reached that point, you’ve lost the competitive advantage you might have had from implementing it earlier. An Autodesk Digital Builder article reported that companies “rated as ‘digitally savvy’ outperform others by as much as 48% on revenue and 15% on net margin.”
Whether you choose to implement artificial intelligence (AI), computational design, building information modeling (BIM), machine learning, augmented reality (AR), virtual reality (VR), or cloud-based software solutions, there are always things you can do to:
- Be competitive. An article by OnePullWire ranked the use of new technology as one of the top ways contractors can remain competitive. The need for technology is propelled by the need for improved efficiencies and profits. One of the technologies cited was building information modeling (BIM). The technologies you choose, and the expanded capabilities they often provide, give you the ability to set yourself apart from the competition.
- Improve your design process. With AI and machine learning, you can co-create and optimize designs smarter and faster with less labor required. People bring the creativity, and computers bring the speed.
- Engage with customers. Customer engagement is crucial to a business. It’s to your company’s benefit to create customer interactions that are positive, memorable and unique. Use AR and VR to show your customer designs and progress on their project. Not only can these efforts solidify relationships with existing customers, you can also use the technology to showcase your unique abilities at industry events to attract new customers.
If you need a partner to help you investigate or implement technology, contact Applied Software today. The experts of Applied will help you champion the solution that’s right for your company. When you succeed, we succeed.
- Connect your teams. As described by Autodesk, connected construction is when data, workflows and technology are integrated, bringing workers, processes and information together in one common data environment. A cloud-based single source of truth enables teams to be efficient on a project, to make the most informed decisions long-term and on a daily basis. Traditional paper-based workflows can’t bring the same kinds of benefits, and they can’t compete with technology in light of the large volume of data companies are now collecting.
- Deliver value. One way to provide more value to your customer is reducing the total cost of the project over its lifetime. A good example of this is furnishing a digital twin of the project’s finished BIM model. A digital twin contains the data from the actual constructed project, including its systems, assets, design specifications, engineering information, warranty information, and more. It enables your customer to make better decisions throughout the finished project’s lifetime.
New technologies and innovations are introduced every day. If you’re not the “early adopter” type, choose the innovation that makes sense to your business goals and formulate your plan for adoption while it will still give you a competitive advantage. Whether it’s AI, computational design, BIM, machine learning, AR, VR, or cloud solutions, there are always things you can do to stay relevant in this competitive construction market.
Check out the free new Applied Software eBook, “How to Market Your Construction Company.” You’ll find tips from construction marketing professionals that cover everything you need to know about marketing in the construction industry.