{"id":139018,"date":"2024-04-24T11:23:11","date_gmt":"2024-04-24T10:23:11","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=139018"},"modified":"2024-04-24T11:23:11","modified_gmt":"2024-04-24T10:23:11","slug":"uk-construction-technology-strategy","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/construction-technology-news\/uk-construction-technology-strategy\/139018\/","title":{"rendered":"Construction technology strategy is key to making the UK a global tech powerhouse"},"content":{"rendered":"<h2>If the UK wants to be serious about becoming a global tech powerhouse, it must place a construction technology strategy at the heart of innovation efforts, argues Haman Manak, procurement director at Stanmore<\/h2>\n<p>Rishi Sunak\u2019s plan to grow the UK into a world technology superpower has well and truly petered out. Stakeholder businesses \u2013 approximately 350,000 of them, at least \u2013 have <a href=\"https:\/\/demos.co.uk\/wp-content\/uploads\/2023\/12\/Powering-the-Superpower_Report_SEGRO.pdf\" target=\"_blank\" rel=\"noopener\">recorded dissatisfaction<\/a> with how the government\u2019s International Technology Strategy has progressed.<\/p>\n<p>These businesses do not have the facilities or the infrastructure to realise the strategy\u2019s goal.<\/p>\n<p>Clearly, Sunak is passionate about this strategy \u2013 among his Goldman Sachs credentials, he co-founded an investment firm that worked with the best and brightest Silicon Valley had to offer.<\/p>\n<p>But as it nears closer and closer towards a failed PR stunt, the Prime Minister and his government must now reevaluate their framework.<\/p>\n<p>So, here\u2019s my message: if you\u2019re really serious about placing the UK on the global tech podium, you must look at construction. That\u2019s where tech innovation could make a real, tangible impact.<\/p>\n<p>By no fault of its own, construction has faced a challenging past 12 months. In the less-than-favourable economic environment, we <a href=\"https:\/\/www.gov.uk\/government\/statistics\/company-insolvency-statistics-october-to-december-2023\/commentary-company-insolvency-statistics-october-to-december-2023\" target=\"_blank\" rel=\"noopener\">struggled and continue to struggle with insolvencies<\/a>.<\/p>\n<p>Housebuilding slumped and, as evident from <a href=\"https:\/\/www.spglobal.com\/marketintelligence\/en\/mi\/products\/pmi.html\" target=\"_blank\" rel=\"noopener\">the recent S&amp;P PMI statistics<\/a>, activity has only just started to pick up.<\/p>\n<p>The industry is slowly and tenderly emerging from the rubble of crisis. Firms, having now experienced the realities of poor margins and less business, are rushing to now find safety nets to cover their backs in the future.<\/p>\n<p>The sector should be collectively trying to find ways to make processes more efficient, take on more projects and \u2013 ultimately \u2013 generate more revenue.<\/p>\n<p>But the current state of on- and off-site work doesn\u2019t quite tick those boxes. Processes are outdated; machinery is old and clunky \u2013 the industry hasn\u2019t kept up with the developments and innovation of the modern world.<\/p>\n<p>That\u2019s where tech could really benefit. Whether through enhanced augmented reality in the design process, automation across the mundane estimation stages or even through <a href=\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/construction-technology-news\/how-data-and-ai-is-changing-the-way-we-live-and-work\/136445\/\">artificial intelligence (AI)<\/a> across BIM, tech could have many applications.<\/p>\n<p>Developments could be better informed through data-driven insights and sector-wide efficiency could be at an all-time high.<\/p>\n<h3>Embracing a construction technology strategy<\/h3>\n<p>For technology-oriented entrepreneurs, the construction industry is a blank canvas \u2013 your ideas could drastically modernise the sector and make groundbreaking improvements across all major processes.<\/p>\n<p>Unfortunately, our industry and its dire need for technological advancement do not get addressed. Of course, this is all because key policymakers still tend to gravitate towards \u2018trendier\u2019 sectors.<\/p>\n<p>From one side of the coin, I can partially understand that. AI, fintech, e-commerce, SaaS, blockchain and the like are all highly lucrative \u2013 and seem to form the bulk of the interest from tech fans across the globe.<\/p>\n<p>On the other hand, these sectors are highly congested. The competition is so fierce and the probability of standout success \u2013 perhaps on the levels of OpenAI \u2013 is shockingly slim.<\/p>\n<p>Construction doesn\u2019t have this issue. Startups are ready to take on the prospect of an industry ready for the taking, while \u2013 as shown from <a href=\"https:\/\/www.thenbs.com\/digital-construction-report-2023\/\" target=\"_blank\" rel=\"noopener\">NBS\u2019 Digital Construction Report<\/a> \u2013 there is clearly an increasing demand for high-level, complex innovation across the sector.<\/p>\n<p>It seems like a win-win. If construction embraces tech, firms will be able to reduce the construction cycle, take on more projects at a time, complete more developments and make the healthy margin they have missed so dearly.<\/p>\n<p>If tech entrepreneurs look to tackle construction, they have the opportunity to establish their magnum opus \u2013 and create impact across a sector that desperately needs modernisation.<\/p>\n<p>There is an issue holding this back, however. Awareness.<\/p>\n<h3>Investment in a widespread construction technology strategy<\/h3>\n<p>Construction is a major part of the UK\u2019s economy \u2013 and contributes <a href=\"https:\/\/www.rics.org\/news-insights\/rics-calls-for-industry-and-government-to-futureproof-uk-construction\" target=\"_blank\" rel=\"noopener\">around 7% to its GDP.<\/a><\/p>\n<p>The sector is a determining force behind the economy\u2019s success and forms a major backbone of day-to-day life.<\/p>\n<p>However, while this status cannot be denied, its issues \u2013 namely, its outdated operations \u2013 are not talked about enough.<\/p>\n<p>Sunak and his cabinet should be looking at construction\u2019s troublesome past months, as well as their failing technology strategy, and be doing all they can to direct entrepreneurs to the sector.<\/p>\n<p>They could even roll out tax breaks or other incentives to start-ups looking to tackle the industry \u2013 and, of course, with net zero also in mind, that would benefit the UK\u2019s decarbonisation efforts nicely.<\/p>\n<p>But construction firms cannot revert to the status quo of industry processes. They have to ditch any reluctance and open the sites up to innovators and entrepreneurs across Britain.<\/p>\n<p>Construction could be ground zero for a widespread technology strategy for innovation. It could see a drastic transformation into the technologically sophisticated modern world and a makeover from its current financial struggles.<\/p>\n<p>The industry could make the government\u2019s International Technology Strategy a faultless success. The UK would be at the top of the construction game and finally brush the shoulders of the tech titans in the USA and Asia.<\/p>\n<p>Forget the past. Construction is ready for innovation.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Haman Manak<\/strong><\/p>\n<p>Procurement director<\/p>\n<p>Stanmore<\/p>\n<p>Tel: +44 (0)1322 446 446<\/p>\n<p><a href=\"mailto:mail@stanmore.co.uk\" target=\"_blank\" rel=\"noopener\">mail@stanmore.co.uk<\/a><\/p>\n<p><a href=\"http:\/\/www.stanmore.co.uk\" target=\"_blank\" rel=\"noopener\">www.stanmore.co.uk<\/a><\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/company\/plastering-contractors-stanmore-ltd-\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a><\/p>\n<p><a href=\"https:\/\/www.facebook.com\/stanmoreltd\/\" target=\"_blank\" rel=\"noopener\">Facebook<\/a><\/p>\n<p><a href=\"https:\/\/www.instagram.com\/stanmorecontractors\/\" target=\"_blank\" rel=\"noopener\">Instagram<\/a><\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>If the UK wants to be serious about becoming a global tech powerhouse, it must place a construction technology strategy at the heart of innovation efforts, argues Haman Manak, procurement director at Stanmore.<\/p>\n","protected":false},"author":21,"featured_media":139025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38487],"tags":[856,688,94656,172832],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-139018","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction-technology-news","8":"tag-construction-technology","9":"tag-digital-construction","10":"tag-digital","11":"tag-pbc-today-may-2024"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - 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