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Many construction companies have been hesitant to embrace new technology because they view it as an expense rather than a method to improve efficiency and cut costs overall. Companies that have been early to the new technology game have reaped the benefits of lower employee turnover, increased productivity, and less workplace accidents. Here are a few new technologies that began to take hold in 2019 and are expected to take off in 2020.
Read MoreInvestors Are Pumping Billions Into Construction Technology
According to the Wall Street Journal, “ Venture investment in private construction-technology companies leaped to 6.1 billion in 2018, from $352.1 million in 2016. With $4.3 billion invested as of late June, 2019 is on track to be another record year.
Construction companies have been encountering labor shortages, pushing them to look for ways to build faster and cheaper.