Technology solutions in the infrastructure and construction space are being explored and deployed at a more progressive pace now.
This is partly because there are more viable technology tools that can widely influence, change, and even revolutionize the way laborious tasks are performed.
However, there are still many projects that don’t leverage technology to reduce production costs, boost safety, address risks, and decrease production time.
Indonesia Infrastructure Finance (IIF) CIO Harold Tjiptadjaja recently said that technology is a key pillar to most infrastructure financing applications that are successful simply because it improves profitability.
“Even when you adopt simple solutions, they can change the way a project is maintained, thus reducing certain costs and ultimately increasing the profitability,” Tjiptadjaja told Tech Wire Asia.
It’s important that key players in the infrastructure industry consistently ask themselves how they can make progress and add value to their projects – with technology solutions in mind, of course.
Tjiptadjaja pointed out that at the end of the day, developers will be the ones to benefit the most from technology deployment, especially if they explore, collect, and analyze data extensively.
One way that developers can use technology in this space is by exploring artificial intelligence (AI)-based solutions. At various stages, AI can help make better decisions and support the demands of an increasingly digital world.
With AI, developers can access quality information like price comparison and price change which then allows them to choose the most cost-efficient development plan to present to investors.
Additionally, predictive analysis can also be leveraged to predict (and plan for) growing market needs, increasing demands, and possible threats in the near future.
Developers that leverage AI-powered solutions can create a sound and secure project plan, earning the trust of investors and policymakers.
Tjiptadjaja realizes that funding bodies, in a way, can influence and drive technology adoption in the infrastructure space by providing incentives to developers that choose to invest in technology solutions.
Adding on, he said that IIF welcomes developers that would like to explore technology solutions available by introducing them to experts in the infrastructure technology (infratech) space.
“It is important that the potential of technology in growing the revenue and driving the market value is realized by developers.”
Tjiptadjaja also reaffirmed that he hopes that more key players in the infrastructure space will adopt a mindset that fits the demands of an increasingly digital and data-driven world.
Agreeably, developers must start to invest in technology tools to stay ahead of the competition and drive transformation in Southeast Asia’s infrastructure sector.