AI strategies grow, but most construction firms lag on tech maturity

A new report has shown that while many firms are investing in AI, cybersecurity and cloud platforms, they’re still early in their digital transformation journey. Image: Adobe Stock

The report by US-based Wipfli reveals that 82% of respondents say they have an AI strategy, but most are still at the entry level, using AI in limited ways rather than integrating it into strategic decision-making.

Similarly, 73% plan to invest in cybersecurity in the coming year, yet 80% of firms experienced a data breach in the past 12 months.

Larger firms are leading the way in data analytics and cybersecurity, but even among companies with over US$250 million in annual revenue, 12% still rely on mostly manual reporting. Among these large firms, 47% said real-time insights drive automated decisions, compared to just 17% of firms under $50 million.

The report also revealed that 43% of firms report full integration with advanced technologies and one-third of firms have achieved real-time, automated decision-making.

“Technology maturity in construction is still in its adolescence,” said Brad Werner, partner and construction and real estate industry leader at Wipfli.

“Integration isn’t optional, it’s the unlock for speed and value.”

The full report can be downloaded.