80% of Decision-Makers Plan to Initiate a Digital Transformation Project in the Next Year

A new survey from CMiC highlights the opportunity to enhance efficiencies amid a dynamic landscape of various financial, workforce, and risk mitigation challenges. Over 550 decision-makers including general contractors, specialty contractors, owners, and developers contributed to the findings.

Key results reveal that 91% of respondents say their business's financial health is average or above despite cash flow and risk management concerns. Workforce optimization is crucial, with 78% confident in their team’s skills but recognizing the need to close generational skill gaps.

Notably, 80% plan to undergo digital transformation within the next year, embracing AI to meet increased customer expectations and improve project efficiency. Additionally, 86% acknowledge the positive impact of sustainability on revenue, reputation, and relationships.

Diverse workforces are a priority, with 79% investing in inclusivity for fostering innovation. The study underscores the role of technology in advancing the construction industry.