GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate

 
  Share
  • The leading global construction company highlights the megatrends to become reality by 2050 for sustainable urban living through the “Future of Construction Initiative”
  • AR, 3D printing and even autonomous construction are emerging technologies to be adopted by the Infrastructure and Urban Development (IU) industry
  • Savings up to $1.7 trillion globally within 10 years
Dubai, United Arab Emirates - July 5th, 2018 -   Full-scale digitization of the construction industry – including 3D printing, AR and even autonomous construction – could save up to $1.7 trillion globally within 10 years, a new World Economic Forum report shows. The report, Shaping the Future of Construction: Future Scenarios and Implications, is the first ever to integrate consideration of new technologies and trends into three consistent scenarios for the future of the global engineering and construction industry. 
 
Consolidated Contractors Company, a leading global construction company, worked closely with the World Economic Forum and Boston Consulting Group to serve on the initiative and contribute to the report, which comes as a result of a year-long collaboration with more than 30 leading companies in the engineering and construction industry. The report highlights that new digital technologies, such as building information modelling (BIM), 3D printing, wireless sensors and autonomous equipment are disrupting a range of industries, including the Infrastructure and Urban Development (IU) industry, and that stakeholders can no longer afford to ignore these fundamental changes. 
 
The Member of the Steering Committee for the Future of Construction Initiative, Consolidated Contractors Company Manager M.I.S. & Business Processes Re-engineering, Aref Boualwan, said that these digital technology megatrends were crucial for the industry to meet global needs in the future. “The three futuristic scenarios we identified in the report are extreme, but conceivable – they analyze how multiple current megatrends could establish different versions of a future world. The scenarios – ‘Building in a virtual world', ‘Factories run the world' and ‘A green reboot' are not designed to predict the future – but to help us prepare for emerging trends”, Mr. Boualwan commented. 
 
According to the CCC executive, there is little doubt that a realistic version of our future will include elements of all three scenarios identified in the report. “When it comes to technology specifically - the ‘building in a virtual world' scenario sees an era where people are immersed in virtual reality in all aspects of life”. 
 
In a global context, this scenario sees major advancements in robotics and artificial intelligence - automation, connected systems and cloud technology permeate daily life and industries of all kinds. “Elements of this scenario are considered very likely – we predict new businesses will emerge, software players will gain more power and more residential, recreational and passenger mobility assets will be required”, Mr. Boualwan stated. 
 
“As a result - transformation imperatives are crucial for all parties in the construction industry, to help them adapt to new realities. We must capture new opportunities and adopt advanced technologies at scale – including initiatives like wireless equipment, cloud & real-time collaboration, 3D scanning/printing and augmented reality and visualization. We have seen digital technologies completely transform global industries in recent years – from social media to e-commerce and digital based mobility companies. But only very recently have digital technologies begun to emerge in the engineering and construction industry.
 
This is the way of the future – and this report will help companies across the industry adequately prepare for it,” he continued.
 
The scope of the initiative is to prepare for a challenging but promising future, while securing and enhancing the wellbeing and happiness of society. The IU industry should, therefore, react quickly and with appropriate action to changing conditions and opportunities for new business to provide societies globally with sustainable, affordable assets that fulfil human needs.



Posted by : GoDubai Editorial Team
Viewed 4386 times
Posted on : Thursday, July 5, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : AEA 111 billion total of Dubai real estate transactions in H1 2018
Next Story : Union Coop's ‘Final Reduction' Success leads to ‘Flash Sale' Promotion to delight the customers. Plu...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Cerruti 1881 Infinite Love
Oh, Sweetie Lipcolour!
Travel Light with Beauty Essentials from Glambeaute.com
Innovative Chronofighter Superlight Carbon is replete with Graham's formidable m...
Jaeger-Lecoultre Main Sponsor of the 75th International Film Festival of La Bie...
Marchon Eyewear and G-III Apparel Group Sign Exclusive Global Licensing Agreemen...
Tissot T-Race Cycling An adrenaline-fuelled ride
DKNY Fall 2018
Tommy Hilfiger Dressed Up Collections
Etihad Airways Celebrates President Xi Jinping's Visit With a Series of Cultural...
Summer Love by Mouawad
Huawei's New Range of Artificial Intelligent Smartphones Set to Change Your Self...
An Insight Into Easyshopping.ae
Canvas on Wrist – Swatch Partners Up With Riksmuseum
A New Watchmaking Encounter in Pink Gold at the Venice International Film Festival
DS Podium Chronograph - Sporty as ever, now with PrecidriveTM
The Maison Chaumet opens an exclusive pop-up at The Dubai Mall
Introducing Salvatore Ferragamo's Men's Sun and Optical Capsule
From skin to comprehensive aesthetic care: a 15-year journey called Kaya Skin Clinic
Go Down Memory Lane with Fashion Trends from the '90s
Inspired by legends, worn by new heroes, PUMA FOOTBALL brings you the AC MILAN 2...
Before we say Goodbye to Flamingoes and Pineapples, Celebrate Summer 2018 with k...
Dubai Camel Racing Club Honours Al Tayer Motors
The wide-awake, doe-eyed look
GUESS Launches Fall 18 Handbags
Enjoy DSS 2018 Offers at Parah
Accessing The Internet In Dubai: All You Need To Know
Your Baby and Child Travel Essentials Covered with Five Little Ducks
Ferrari's turbo-charged V8 is voted the best engine of the last 20 years
Hyperloop Transportation Technologies to Build China's First Hyperloop System
Michelin introduces the new MICHELIN PRIMACY 4 in GCC region
Pottery Barn Kids launches new ‘Back-to-School' collection
UAE Team Emirates' Alexander Kristoff Narrowly Misses Out on a Stage Win in a Ti...
Beat the Heat with these Summer Essentials
6-Day SCTDA Tour Guide Training Program Conducted by SUC
Danfoss celebrates the young engineers who participated in the EmiratesSkills Na...
PCFC and GDRFA helped 511 employees tie the knot over last 7 years
One Day Course in Dealing with and Managing Difficult Stakeholders
Rashid Hospital doctors save sea captain's life using a highly sophisticated pro...
Dubai Health Authority discusses collaboration with British healthcare firms.
Brunch with the Girls this Summer
MG Motor introduces new MG GS 2019 to the Middle East
IKEA Announces Upcoming Global Collections and Collaborations for 2019
Ensure clean and pure air in your home this summer
Roger Dubuis and Lamborghini Squadra Corse thrill visitors with enthralling Harr...
Finnair recognized as the ‘Best Airline in Northern Europe' for the 9th year in ...
Dragon Mart celebrates UAE-China Week with exciting line-up of traditional Chine...
Shop & Win this Weekend with Unbeatable ‘Unbox the Amazing' Deals and Promotions...
The Dubai Business Women Council looks to enhance economic relations with Serbia
Sharjah continues to become more affordable, with rents and sales prices falling...