The construction industry has traditionally been change-averse. Tried and true building processes are valued over new technologies resulting in a build process that has evolved at a glacial pace over the past 70 years. Reasons include a skills gap that necessitates expensive retraining for new technologies, sparse data around productivity within the industry, a regulatory environment that can’t keep up with innovations, and a low-margin financial model that discourages straying from the status quo. A 2016 McKinsey report found that 70% of construction firms devoted 1% of revenue or less to technology. This leads to many firms offering a non-differentiated, commoditized service competing only on price.

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