The construction industry has been contending with an aging workforce, extended labor shortages, lack of innovation, and narrow profit margins for decades. Since 1947, it has been outpaced in labor productivity by a factor of 16. It’s no surprise then that, on average, large construction projects tend to be 80% over budget and 20 months delayed.
Nothing changes in building construction…until it changes. Incumbents are looking for competitive advantage and startups are looking to disrupt the status quo.