455 views
Photo via Pexels

Singapore leads in construction digital transformation: study

Five in 10 firms plan to increase investments in quantity surveying software. 

Singapore stands at the forefront of construction digitalisation, according to construction management software company PlanRadar.

The study found that 83% of ASEAN firms invest in project management software. Moreover, artificial intelligence (AI) emerged as a significant area of interest, indicating a push towards streamlined processes.

In Singapore, 59% of firms plan to increase investments in quantity surveying software. 

Despite benefits, cost remains a barrier, highlighting the need for affordable solutions and training.

The government’s decision to allocate an extra $1b in this year's budget to catalyse AI activities is a signal to all sectors to integrate technological advancements.

The Building and Construction Authority and the Ministry of Manpower also recently announced increased incentives for contractors adopting safe construction methods or utilising technology for enhanced risk monitoring and safety.

“We are looking forward to discovering how AI will transform the industry, bringing about benefits like improved decision-making, reduced timelines and enhanced collaboration,” said Vitaly Berezka, PlanRadar's Head of Sales.

“This transformation has ripple effects throughout the entire construction sector, leading to smarter, more sustainable projects,” he added.

Join Singapore Business Review community
Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.