While contractors and their legal advisers try to work out how the COVID-19 pandemic and the possibility that their projects might stop and start because of government shutdown orders, jobsite worker illnesses, their finances or those of contractors and workforce and supply chain interruptions.
Some of these associated mandatory shutdowns will affect future job operations and profitability. This has been a major disruptions in the insurance and bonding markets which has limited coverage for many business owners and any future pandemics. Granted new jobs and industries will be created – and some will disappear. Today as you are reading this article there are jobs which were not even imagined 20 years ago are now a reality and there is already a shortage of skilled operatives to perform them.
With the construction industry entering its digital revolution, it is now competing with technology companies for the highest skill worker. So I would say that, It’s worth looking ahead to what kind of contract terms construction companies could face in the future. As the impacts of the pandemic are being felt, parties are racing to read the fine print of their contracts.
65% of School Children Will Work In Jobs Which Do Not Yet Exist.
Digital Construction is already beginning to shape business strategies and data is increasingly being used to drive business decisions. Robots will work in teams to build complex structures using state of the art building materials.
Drones will fly overhead surveying the site, inspecting the work, and solving problems before they arise. No human involvement need, just a little. The only role of a human will be to handle multiple projects remotely from any location in the world.
The construction sector is increasingly being challenged to improve its environmental footprint and reduce waste and CO2 emissions. We believe that the construction industry must modernize in order to secure its own future. Those companies at the foreground of the digital revolution, will reap the biggest rewards. #SAFETYONPURPOSE