The ai in construction theme analysis industry has been slower than other sectors to implement AI as it is a difficult industry to digitalize. The vast and complex data sets needed for building information management (BIM) have been historically difficult to process. However, AI adoption in the construction industry is gaining traction and will continue to grow over the coming years.
AI in Construction - Value Chain Analysis
The AI value chain is split into five segments which are hardware, data management, foundational AI, advanced AI capabilities, and delivery.
Hardware: The hardware value chain can be further divided into semiconductors, cameras, sensors and lasers, and servers, among others. The AI hardware stack is not too dissimilar from any IT system, although parts such as semiconductors, cameras, sensors, and edge equipment are very AI-specific. On the other hand, servers, storage, and networking equipment are standard and not designed specifically for AI use cases.
The AI market was valued at $81.3 billion in 2022. The market is expected to achieve a CAGR of more than 35% between 2022 and 2030. The AI consulting and support services category is currently the largest market segment as companies try to find the best way to integrate AI into their business processes and understand how AI applications can add value. AI conversational platforms are the fastest-growing segment. This growth will partly be driven by the significant improvement in language models since the release of GPT-3 by OpenAI in 2020.
