At the start of 2020, construction technology was a hot market. Venture capital was pouring in as tech investors saw potential for growth. Industry firms that had already made investments in technology were seeing real gains from their efforts. When the COVID-19 pandemic rattled the construction industry this spring, technology providers dropped what they were doing to refocus on practical solutions to keep projects going in a frenetic triage. Now that the initial pandemic shock has passed and a new, unusual rhythm for construction has settled in, what happened to the momentum for broader technology adoption?
Construction tech’s focus on solving practical problems has lent itself well as a tool during the pandemic, according to Jit Kee Chin, chief data and innovation officer at Boston-based general contractor Suffolk.“We view the current situation as a challenge, a period to get over,” she says. “Typically after these periods of recession or slowdown, innovation tends to speed up.”