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 pages |
Methods
1. Develop a vision and instil an innovation culture that challenges the construction industry’s status quo.
2. Create talented, multidisciplinary teams and devise an agile organization to accelerate innovation.
3. Take a customer-centric approach to devising innovations, starting from the pain points of construction clients and asset end-users.
4. Establish product platforms rather than taking an individual-project perspective to create the business case for innovation.
5. Develop pilot projects and prototypes to demonstrate the potential and provide proof of value.
6. Nurture the broader ecosystem necessary for implementing the innovation, by developing the (local) supply chain and partnerships.
7. Embrace business-model innovation alongside technological innovation in Engineering & Construction.
8. Advocate new ways of contracting to enable and incentivize effective collaboration with project owners from day one.
9. Shape the regulatory environment proactively to enable and promote adoption of the innovation.
(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.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 3d printing | English publication language | affordability | construction | disaster resilience | economy | energy | engineering industry | environment | flexibility | fourth industrial revolution | industry | innovation | lifecycle performance | liveability | project delivery | resources | sustainability | technology | well-being