Artificial Intelligence (AI) is driving innovation in the construction industry, with recent patents showcasing advancements in safety, efficiency, and accuracy. These technologies offer solutions for detecting and preventing accidents, ensuring proper hygiene, and optimizing transportation systems. While strategic deals in AI remain steady, job postings reflect a significant growth, particularly in computer and mathematical occupations, indicating a rising demand for AI expertise in construction. The impact of AI extends beyond the construction sector, influencing various industries. GlobalData’s artificial intelligence market report provides comprehensive analysis of the market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the construction industry regarding AI. It provides an overview of recent developments in AI-related deals, talent acquisition, and patent filings within the construction industry.
Diverse applications of artificial intelligence in construction industry
Construction companies are leveraging artificial intelligence (AI) technologies to innovate and improve their businesses. Recent patents in the field include systems for detecting a person in a hoistway, hand washing verification using contamination sensors, cableways for transporting goods, identifying telemetry data using AI, and trajectory and intent prediction. These technologies offer benefits such as improved safety, efficiency, and accuracy in construction processes. For example, AI can help in detecting and preventing accidents, ensuring proper hand hygiene, optimizing transportation systems, and predicting user intent for access control devices. By acquiring these patents, construction companies can enhance their operations, reduce risks, and streamline processes using advanced AI applications tailored to their specific needs.
The industry experienced a 7% decline in the number of AI-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of AI-related patent applications in the construction industry witnessed a rise of 3% compared with Q1 2023.
Strategic deal trends in artificial intelligence in construction industry
Construction companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in AI. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of AI in the construction industry.
In Q1 2024, the number of AI-related deals in the construction industry remined flat by 0.00% compared with Q1 2023. On a quarterly basis, the number of deals in Q1 2024 compared to the previous quarter, remained flat.
Impact on hiring
In terms of new job posting, in Q1 2024, the construction industry experienced a 25% growth compared with the previous quarter. On an annual basis, job postings also grew by 5%. Notably, computer and mathematical occupations, with a share of 21%, emerged as the top AI-related job roles within the construction industry in Q1 2024, with new job postings rising by 15% quarter-on-quarter. Management occupations came in second with a share of 11% in Q1 2024, with new job postings rising by 4% over the previous quarter. The other prominent AI roles include architecture and engineering occupations with a 10% share in Q1 2024, and business and financial operations occupations with a 4% share of new job postings.
Honeywell International, ABB, Jones Lang LaSalle, AECOM, and Caterpillar are among the top companies leading in AI hiring within the construction industry.
Countries driving adoption of artificial intelligence in construction industry
The US is the leading country in AI adoption within the construction industry, boasting the highest number of AI-related patents, jobs, and deals. Meanwhile, China, Japan, Switzerland and the Netherlands also maintain significant positions in AI adoption within the construction industry.
Innovations in artificial intelligence (AI) are reshaping the construction industry, offering solutions for enhanced safety, efficiency, and operational accuracy. With a steady stream of patents and growing job opportunities, AI continues to pave the way for transformative advancements in construction practices.
To further understand GlobalData's analysis on artificial intelligence in the construction industry, buy the report here.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
