There has been unprecedented innovation in the construction technology space over the past few years, first driven by the widespread usage of cloud and mobile solutions and now propelled by AI, machine learning, robotic process automation, and advanced analytics.

These technologies are transforming construction workflows from bidding and planning through execution and financial management. 

Forward-thinking construction companies understand the need to lay the groundwork now for short-term gains and long-term success. They have a strong technological foundation in place and are benefiting from the latest advancements in AI.

The AI Revolution in Construction 

AI and machine learning are already delivering benefits across the construction lifecycle, and 44% of construction businesses project an increased investment in AI technology this year.

AI is having a big impact in the areas of construction accounting, preconstruction, operations, and communications. 

Construction Accounting 

Construction accounting has seen and will continue to see reimagined workflows as AI enables continuous accounting, assurance, and insights. This is a huge step forward as financial professionals have historically only had point-in-time or after-the-fact visibility into their financials. 

Some technology vendors have already implemented AI into their product functionality.

For example, AI can comb through vast amounts of data and score transactions for the likelihood of an error or conflict. Once it reviews the entries, it flags anomalies to help catch errors proactively and identifying issues and risks immediately. It also lets teams know if an outlier is a coding anomaly or unusual amount or if there are multiple outlier conditions.

Customization, robust dashboards, and automated alerts ensure teams always have real-time insights into their financial health. 

AI-Powered Preconstruction 

Preconstruction has come a long way since paper plans, slide rulers, and calculators.

Advancements such as spreadsheets and estimating software have helped estimators increase their speed and accuracy, but AI has multiplied these gains exponentially. Takeoff solutions that incorporate AI can automatically detect, label, and measure project spaces in mere seconds with precision.

Bid analysis is another area where AI has great potential. AI not only speeds up the process of creating new estimates, but it can also search through data to compare past performance on projects similar to the one being estimated.

When estimators set the right parameters, AI can deliver an intelligently constructed estimate that serves as a great starting point. 

Real-Time Operations 

AI-driven solutions provide real-time updates and predictive insights to transform how projects are managed. AI can continuously monitor project progress against planned activities, flag potential issues, and suggest corrective actions.

AI can also optimize tasks such as scheduling and resource allocation, enabling project managers to take a more proactive approach and keep projects on schedule and within budget.

Streamlined Communication 

Construction teams are constantly juggling multiple demands and a flood of emails and other communications, making it easy to miss important updates. Generative AI, which creates content, can ease some of this load by providing human-like writing assistance.

AI-powered communication tools can automate routine interactions, generate responses, and ensure clear, consistent communication, reducing the administrative burden. With automated alerts, teams can be sure they are receiving the most important information in a timely manner. 

Conclusion

The construction industry is at a pivotal moment where AI isn't just a nice-to-have—it's becoming essential for staying competitive. Companies that start integrating these technologies now, from smarter accounting systems to AI-powered project management and bidding, will have a significant advantage over those who wait.