Innovation and digitalization in construction: new opportunities and challenges for investors and businesses

Abstract

The article discusses the features of innovation and the possibilities of digitalization, which are extremely important for investors and enterprises. As the authors point out, the construction industry resists technological changes and produces a large amount of useless energy; “green” innovations should compensate for these shortcomings. The emergence of new and powerful digital transformations has provided the construction industry with a lot of opportunities. Along with the industrial revolution and the modernization of technology, all industries are changing their traditional ways of working and managing. However, the developing construction industry is lagging far behind this technological transformation. Traditional methods of design and operation have become obstacles in the process of its transformation. The construction industry has played an indispensable role in the economic growth of countries over the past decades, but now it must keep up with the times. Recently, industrial enterprises have begun to introduce new concepts, such as digital construction and parametric design. However, there is still no assessment of the effectiveness of digital reform at construction enterprises.