According to a report in Construction Executive, McKinsey expects annual worldwide construction spend to grow to approximately $14 trillion by 2025 due to a variety of factors including population growth, urbanization and public investment in infrastructure.

Innovation is contributing to the growth projection. Platform technologies enabling the application of artificial intelligence, data science and predictive analytics to the construction process are creating new opportunities not just for risk mitigation, but for growth. When firms unify these tech tools, they can see the maximum potential of a digital platform, providing a single source of truth for stakeholders to build smarter and more efficiently.

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