How has the increasing pace of technology changing the architectural, engineering and construction (AEC) industry?
The Industrial Revolution marked a shift to powered, special-purpose machinery, factories and mass production. The pace of development and the roll out of new ideas and inventions happened at a snail’s pace by today’s standards while the “death” of various companies as a result of the end of Industrial Revolution also occurred very slowly over a fifty to 100-year period.
Today, we are living in the fast-paced world of the “smart revolution.” Change is occurring almost daily with new technologies developing in today’s “smart” world. Unlike the rise and fall of the Industrial Revolution, companies, government and institutions that don’t embrace the smart movement will be left behind very quickly. Without technological solutions and being innovative, they will not attract the best and the brightest.
This has already occurred for some companies in the last few years. Companies such as Blockbuster, Radio Shack, and Encyclopedia Britannica were gone almost overnight. What happened that they didn’t foresee? On the flip side, think about Uber and Lyft, both came about overnight and have changed the way people move around the world as a new mode of transportation. How will they now evolve as we continue to innovate? What new companies will be born as we roll out 5G technology?
To keep up with the pace, we can take several steps to succeed. At Pennoni we have both developed internal solutions such as our OPTICS, Energy Management Software and we have aligned and partnered with other companies that can help enhance our “smart” solution offerings. For example, Pennoni recently became an enterprise partner with RoadBotics, which is a pavement management system that identifies potential problems on the road using Artificial Intelligence (AI). We partnered with RoadBotics to provide an affordable and objective solution to our municipal, higher education, industrial and commercial clients, enabling them to analyze roads and parking lots to prioritize pavement maintenance needs, with the ability to provide an objective explanation on those decisions to the public and other stakeholders.
For businesses, governments, and institutions to thrive moving forward they must be hot spots for residents, employees, customers, tourists, and more. To do so, we must embrace the smart movement, innovate, and lead into the future.
Pennoni is a member company of the Chamber’s Middle Market Action Team (MMAT), a consortium of leaders driving rapid growth in companies with annual revenues between $10M & $1B through targeted programs and strategies.
The Mighty Middle Market: How a Digital Transformation Can Boost Business
Wednesday, January 29, 2020 | Sheraton Valley Forge Hotel
Joining us from the National Center for the Middle Market (NCMM), Tom Stewart will share excerpts from NCMM’s new report, “The Case for Digital Transformation” and highlight the framework for thinking about a digital transformation, the three stages of the process, and what opportunities lie ahead for middle market companies willing to take the plunge.
Following Stewart will be a series of flash talks from leaders at companies who have embraced technology who will share their digital transformation journey and provide tips for your company to do the same.