A Symphony, Not a Battle: 5 ways construction firms are mastering complexity and reducing risk

The industry is addressing its problems by adopting new technologies. Owners and delivery teams spent an estimated $50 billion on architectural, engineering, and construction technology between 2020 and 2022—85% higher than in the previous three years, according to a 2023 McKinsey & Co. study. Specifically, firms are investing in digital workflows to more efficiently manage portfolios, schedules, risk, projects, and payments.

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