#USA #construction technology #Milwaukee #Wipfli #AI Strategies

Wipfli's 2025 Construction Technology Report

The recent report from Wipfli, a prominent advisory and accounting firm, sheds light on the state of technology within the construction sector as we approach 2025. It highlights a strong desire for innovation amidst significant hurdles in digital transformation.

Key Findings

The report incorporates insights from a survey conducted with 308 construction executives, uncovering several crucial trends:

• - Ambition vs Execution: A staggering 82% of survey participants indicated that they have developed an AI strategy. However, many still find themselves operating at a rudimentary level.
• - Cybersecurity Concerns: As 73% of firms plan to enhance their cybersecurity investments over the next year, it is alarming that 80% of respondents faced data breaches within the last twelve months. This predicament demonstrates a pressing need for sound cybersecurity measures in the sector.
• - AI Strategy Implementation: Notably, 66% of smaller firms now maintain an AI strategy, showcasing that even the smallest entities are beginning to adopt advanced technologies.
• - Integration Levels: While 43% of firms report having successfully integrated advanced technologies, only a third have achieved the ability of real-time, automated decision-making — an essential component for leveraging AI's predictive capabilities.

Insights from Industry Leaders

Brad Werner, a partner at Wipfli and leader in the construction and real estate industry sector, emphasized the current era of technological maturity in construction. He stated,

“Technology maturity in construction is still in its adolescence … C-suite leaders should not micromanage tech. Instead, they must fully understand cyber risks and insist on a centralized control approach to the tech stack.”

This highlights the necessity for companies to take ownership of their digital tools and ensure their seamless integration to outperform competitors.

Challenges Ahead

Despite the advancements, even the largest firms, with revenues exceeding $250 million, still exhibit gaps in their technological adoption. Alarmingly, 12% of these companies continue relying on manual reporting—showcasing that scale does not always equate with effective tech usage.

The crucial takeaway is the pressing need for businesses to move beyond pilot programs and integrate tech into their core operations. The current challenges suggest that reliance on technology should transition from being an auxiliary concern to becoming the engine driving efficient and rapid decision-making processes.

Conclusion

As construction firms head into 2025, the focus will inevitably shift toward not only embracing but fully integrating these technologies. Wipfli’s report serves as a comprehensive resource for construction industry leaders aiming to prioritize their technology investments, pursue innovative solutions, and comprehend the intricacies involved in a digitally driven business environment.

To gain more insights and explore exclusive data on how construction leaders are navigating these technological challenges, interested parties are encouraged to download the full Wipfli 2025 State of Technology in Construction report.

About Wipfli LLP

Wipfli is an advisory firm committed to delivering integrated solutions tailored to assist clients in comprehending the current market landscape and optimizing their operations. With over 3,300 associates, Wipfli provides a wide array of services pertaining to digital solutions, strategy, risk management, and performance optimization for more than 55,900 clients globally.