Browsing: Artificial Intelligence (AI)

The value of the AI construction market was estimated to be USD 466.9 million in 2019. Projections estimate that by 2025, the market value will skyrocket to US$2312.8 million with a compound annual growth rate (CAGR) of 33.87 per cent between 2020 to 2025.

Despite not gaining early adoption within the construction sector as in other areas, AI is now ideally positioned to lead transformative reforms within the sector.

According to an article by majesteye.com dated February 16, 2022, several studies and reports have shown that the adoption of AI applications within the infrastructure sector is growing at a rapid pace. Some of the major drivers of this growth include the following: