Can smart technology alleviate the labour skill shortage?
Can smart technology alleviate the labour skill shortage?
The construction industry is known to lag behind in terms of innovation, however it is experiencing a transformation with the introduction of digital and smart technology.
The construction industry, comprising over 13% of global GDP, faces challenges due to slow technological adoption and a shortage of skilled labour. Smart Construction's Richard Clement addresses the industry's digitalisation lag, exacerbated by an aging workforce and declining interest from younger generations. This shortage, highlighted by 80% of firms struggling to recruit qualified workers, threatens industry development.
Government initiatives, including green transition policies, aim to address this shortfall, potentially creating 1-2.5 million jobs by 2030. Smart technology offers solutions, with 95% of UK construction companies planning tech investments.