Slate’s CEO, Trevor Schick, recently contributed an article on Builtworlds.com News covering this emergent topic of the AI solutions for construction labor shortage to improve project outcomes.
For construction and development firms targeting growth in land acquisition, project management, and reducing costs by 2025, this labor shortage highlights the urgent need for AI and technology solutions in construction. Implementing AI in construction can help bridge the workforce gap by automating tasks, enhancing efficiency, providing valuable data insights, and improving ROI, especially as demand increases due to large-scale projects.
1 in 4 U.S. construction workers over the age of 55 and 1.9 million expected to exit the industry this year, the construction labor shortage is reaching critical levels.
On average, the industry faces a monthly shortage of 400,000 workers, particularly in skilled trades. According to the Associated Builders and Contractors (ABC), the U.S. construction sector needs to recruit nearly half a million new workers to meet 2024 demand, even if construction slows heading into 2025.
This doesn’t account for growth from mega-projects and new jobs driven by initiatives like the Bipartisan Infrastructure Law (BIL), which could widen the labor gap by another 345,000 jobs in infrastructure and energy by 2026-2027.
Data-driven Insights and Recommendations
The critical role of artificial intelligence (AI) in addressing the labor shortage faced by the construction industry is further explored in this article. Construction and development firms must leverage AI solutions for construction labor shortage to enhance project management, streamline land acquisition, and significantly reduce operational costs. This provides more accurate future labor planning and pipelines with bigger profits.
Better data means less rework
Rework is a major contributor to missed deadlines, schedule overruns, and budget excesses, directly impacting project management and increasing operational costs. It requires more labor to fix errors than to get it right the first time, compounding the strain on already limited labor pools.
With AI solutions, construction firms can significantly minimize or even eliminate rework, freeing up workers to be redeployed on new projects. This not only reduces labor demands but also boosts efficiency, helping firms meet their 2025 growth goals in land acquisition, cost reduction, and overall project management.
Turning lessons learned into better decision making
AI tools can automate repetitive tasks, provide intelligent recommendations, optimize scheduling, and boost productivity, directly increasing ROI. Firms that adopt AI technology will be better positioned to meet rising demand, control expenses, and maintain a competitive edge.
Read the full article on BuiltWorlds News here: https://builtworlds.com/news/construction-wont-solve-labor-gap-without-technology-ai-holds-key/