Shaping the Future of Construction: Inspiring innovators redefine the industry
This report showcases and analyses 10 Lighthouse innovation cases that demonstrate the potential of innovation in construction and show what the future of the industry might look like. Their stories not only serve as an inspiration but also describe vividly the typical challenges that innovators face, and show how to engage and overcome those challenges.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | World Economic Forum |
| Page count: | 96 |
Methods
The research method used in the report involves analyzing 10 Lighthouse innovation cases to extract key lessons and policy recommendations for fostering wider adoption of innovation in the construction industry. The analysis includes site visits, in-depth interviews with project managers, technical experts, and company executives, and examination of projects along different dimensions such as challenges, innovative ideas, impact, barriers, and solutions.
(Generated with the help of GPT-4)
Key Insights
The Engineering and Construction industry has been slow to move away from its traditional approach, though new (digital) technologies are generating major changes and offering great potential. Adoption remains slow, however, and is not broad-based; and the gap is widening between the innovation leaders and laggards. What distinguishes the innovation leaders and what can other companies learn from them? To answer those questions, we analysed 10 prominent Lighthouse innovation cases and identified a set of key success factors for innovation in the construction ecosystem. These factors can be grouped into three main steps – Stimulating innovations; Turning ideas into reality; and Succeeding in the market, as shown below (figure 4). The figure lists the success factors, and the following discussion describes in detail the lessons from the Lighthouse innovation cases.
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Additional Viewpoints
Categories: English publication language | affordability | collaboration | construction | disaster resilience | flexibility | innovation | productivity | sustainability | technology | well-being