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Building the Future of Construction

MD Staff

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Dramatic changes on the horizon indicate an uncertain future for the engineering and construction (E&C) industry and its more than 100 million employees worldwide. Advancing digital technologies, which include building information modelling, prefabrication, wireless sensors, automated and robotic equipment and 3D printing, are affecting the entire industry. The substantial impact of full-scale digitization could help the industry escape its decades-long lack of productivity progress and generate an estimated $1.0 trillion-$1.7 trillion in annual cost savings.

In parallel, global megatrends should motivate E&C companies to rethink industry practices that have not advanced over the years. Rapid urbanization – with more than 200,000 people a day relocating from rural areas into cities – climate change, resource depletion and the widening talent gap are just a few of the most powerful of these trends. Shaping the Future of Construction: Future Scenarios and Implications, a new report from the World Economic Forum and The Boston Consulting Group (BCG), is the first to integrate consideration of the new technologies and trends into consistent scenarios of the future.

“The investigated scenarios and their implications clearly show that incremental change is not an option any more. By redefining the ultimate frontier, leapfrogging innovations in construction will finally help to address major societal challenges, from mass urbanization to climate change,” said Michael Buehler, Head of Infrastructure and Urban Development at the World Economic Forum. “The widespread adoption of game-changing innovations that consider a variety of possible futures is going to make a serious impact, socially, economically and environmentally.”

Over the past year, the World Economic Forum and BCG worked with more than 30 leading companies from the E&C industry, conducting workshops in Berlin and London. The result of those workshops was the development of three future scenarios for the E&C industry. Although all three scenarios, outlined in the report, are extreme, they are plausible. In the “building in a virtual world” scenario, which many experts consider highly likely, design and engineering software systems are powered by artificial intelligence, and autonomous construction equipment replaces most manual work throughout the E&C value chain.

Although the report indicates that it remains unclear which scenario or scenarios will unfold, there is little doubt that the future will include elements of all three. Michael Burke, Chairman and Chief Executive Officer at AECOM and co-chair of the World Economic Forum Future of Construction initiative, said: “Current business models, strategies and capabilities will not be sufficient in any of these future worlds. This underscores that players along the construction value chain need to prepare strategically to thrive in the face of anticipated disruption.” In addition to recommending specific actions in response to each of the scenarios, the report provides a set of actions that will be relevant in any possible future.

The report states that 74% of the E&C company chief executives who participated in the World Economic Forum Annual Meeting 2018 in Davos in January said they considered that attracting new talent and improving the skills of the existing workforce to be among the top three actions for keeping pace with upcoming disruptions. The other two priorities they named were improving integration and collaboration along the value chain (65%) and adopting advanced technologies at scale (61%). For each scenario, the report describes the most important changes that E&C companies must anticipate; explains how customer requirements, segment demand, regulations, processes and technologies would change; and provides details on how the competitive position of existing industry players would be affected, what new entrants could be expected and what new business opportunities will arise.

Luis Castilla, Chief Executive Officer of Acciona Infrastructure and until recently a co-chair of the World Economic Forum Future of Construction initiative, summarized the relevance of the new report: “The construction industry’s decision-makers should understand the disruption outlined in the future scenarios as a wake-up call and use the identified key actions as a foundation for companies in the construction industry to prepare and shape a prosperous future that will allow the industry to fulfil its role in promoting economic growth, social progress and environmental responsibility.”

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Internet milestone reached: More than 50 per cent go online

MD Staff

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For the first time, more than half of the world’s population of nearly 8 billion will be using the internet by the end of 2018, the United Nations telecommunications agency announced on Friday.

International Telecommunication Union (ITU) global and regional estimates for 2018 are “a pointer to the great strides the world is making towards building a more inclusive global information society,” Houlin Zhao, ITU Secretary-General, said.

The record figure of 3.9 billion people, or 51.2 per cent that will be online by the end of December, is an important milestone in the digital revolution, according to the ITU. The agency insists that this increased connectivity will help promote sustainable development everywhere.

The latest figures also spotlight Africa, which shows the strongest rate of growth in internet access, from around two per cent in 2005, to more than 24 per cent of the African population this year.

Europe and the Americas are the regions with the slowest growth rates, though the current figures show that 79.6 per cent and 69.6 per cent are online, respectively.

Overall, said the ITU, “in developed countries, slow and steady growth increased the percentage of population using the Internet, from 51.3 per cent in 2005 to 80.9 per cent in 2018.”

Despite this progress, ITU has warned that a lot of communities worldwide, still do not use the internet, particularly women and girls. The statistics show older people also disproportionately remain offline, as do those with disabilities, indigenous populations and some people living in the world’s poorest places.

In a bid to reduce inequalities, the agency is calling on more infrastructure investment from the public and private sectors, and to focus on ensuring that access remains affordable for all.

“We must encourage more investment from the public and private sectors and create a good environment to attract investments, and support technology and business innovation so that the digital revolution leaves no one offline,” said Mr. Zhao.

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Utilizing Artificial Intelligence for Environmental Sustainability

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The improvement in human development is becoming vividly contingent on the surrounding natural environment, and may be confined by its future deterioration as a response to the negative stimulus. Man-made problems like increasing population, urbanization and industrialisation, of which our mother earth is a victim in this century, have forced society to consider whether human beings are changing the very conditions essential to life on Earth. Antediluvian technologies have played a very meager role in the planning, prediction, supervision and control of environmental processes at different scales and within various time spans. An effective environment protection policy is largely dependent on the quality of information available and the utility of contemporary technologies like Artificial intelligence (AI), deep learning and data analytics that can be used to take an appropriate decision at an appropriate time. This convergence can help AI move from in vitro (in research labs) to in vivo (in everyday lives).

The global environment is in a bad shape. Natural disasters around the world are happening at an alarming rate, we have witnessed earthquakes, wildfires and cyclones that cause mass flooding and property damage. Around twenty per cent of species currently face extinction, and that number could rise to 50 per cent by 2100. And even if all the world economies keep their Paris climate pledges, by 2100, it’s predicted that average global temperatures will be 3˚C higher than in pre-industrial times, making it an invincible environmental catastrophe. There are reports which suggest that the recent fire break in California, United States of America and the floods in Kerala, India could have been mitigated effectively with proper supervision and planning. Here comes the role of AI.AI is considered to be the most dynamic game-changer in the global economy. According to a World Economic Forum report, Harnessing Artificial Intelligence for the Earth, AI refers to computer systems that “can sense their environment, think, learn, and act in response to what they perceive and their programmed purposes.” AI has helped environment researchers clinch almost 90 per cent accuracy in spotting climate change factors like tropical cyclones, weather fronts, tidal changes and atmospheric rivers, which can cause heavy precipitation and are often impossible for humans to identify on their own.  In India, AI has helped farmers get 30 per cent higher yields per hectare by providing information on preparing the land, applying fertilizer and choosing sowing dates, as reported by the Government of India in 2018. In Norway, AI has penetrated into the field of policy-making and helped create a flexible and autonomous electric grid, integrating more renewable energy.

The long list of technology and economy shapers, who believe that artificial intelligence, often encompassing machine learning and deep learning, is a “game changer” for climate change and environmental issues, includes Microsoft, Google, IBM and Tesla among others. Microsoft’s AI for Earth program has committed $50 million over five years to develop and test novel tech-applications for AI. In China, IBM’ Green Horizon project is utilizing an AI system that can forecast air pollution, track pollution sources and develop potential strategies and solutions to tackle it. For instance, data analysis can be used to determine whether it would be more effective to restrict carbon output close certain power plants in order to reduce pollution in a particular zone. The Ocean Data Alliance is developing a machine learning system to provide data from satellites and ocean exploration so that decision-makers can monitor shipping, ocean mining, fishing, coral bleaching or the outbreak of a marine disease. Modern technologies like artificial intelligence, geographic information system tools and movement detectors, are revamping the way wildlife reserves and conservation bodies are working across India.AI can also help prophesy the spread of invasive materials, keep a track of marine litter and measure water pollution levels. The 21st century is the age of data, with accuracy as the key, decision-makers and authorities will be able to respond to problems more quickly with real-time data. Considering the global evolution of AI and its application, it is evidentially predicted that by 2030, AI will add up to USD 15.7 trillion of the global economy which is more than the present output of China and India combined.  The United Nations recognize that AI has the potential to accelerate progress towards a dignified life, in peace and prosperity, for all people. The UN Artificial Intelligence Summit held in Geneva (2017) suggested refocusing the use of this technology, on achieving sustainable development goals and assisting global economies to eliminate poverty and to conserve natural resources and protect the environment.

Countries and civil societies develop incredible AI application systems with diverse features, but sometimes these systems do not take into consideration the good of individuals and society. So, it is important to develop systems which can deliver the change required to build a clean, resource-secure and inclusive economy, enabled by technology and supported by public policy and investment. Many industry giants like Microsoft, Google and Tesla, while pushing the parameters for human innovations, have made productive efforts in developing ‘Earth Friendly’ or ‘Eco-Friendly’ AI mechanisms. For instance, Google’s brainchild DeepMind AI has helped the organization to curb their data centre energy usage by 40 per cent making them more energy efficient and reducing overall greenhouse gas emissions.AI innovation will also be fundamental to the attainment of the United Nations Sustainable Development Goals (SDGs) and will also promote the resolution of humanity’s grand challenges by maximizing on the unequalled quantities of data now being generated on sentiment behaviour, human health, migration and more.

For any country to maximally benefit from the AI revolution, it must adopt a deliberate policy to drive AI innovation and proliferation in sectors affecting climate change. With powerful economies making rapid progress in AI-based research, it is imperative that the World looks at AI as a critical element of environmental sustainability. These recent advances in AI are a wake-up call to policymakers as our climate is under increasing strain. Aiming for sustainability is an opportunity of this generation. AI and other Fourth Industrial revolution ideas are the new innovative solutions that can revolutionize environmental protection measures.

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The Dire Effects of Cyberattacks on Prosperity, Innovation and Global Collaboration

MD Staff

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Cyberattacks are increasing in volume and sophistication, affecting an ever-greater number of people and institutions. Through artificial intelligence (AI), the Internet of Things (IoT) and other new technologies, the threat surface and vulnerability are growing, spinning out in new threat areas facing citizens, consumers, companies and countries. To fight increasing cybercrime, the global community needs to overcome three major challenges: lack of trust, lack of cooperation and a lack of adequate skills.

The first Annual Gathering of the World Economic Forum’s Centre for Cybersecurity ended today with calls to action and the launch of several new initiatives by the more than 140 cybersecurity experts from government, business, academia and law enforcement to address these three challenges.

Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, stressed the need to ensure a cyberspace that serves as a trusted and secure backbone for the Fourth Industrial Revolution if its opportunities are to be realized. “Cybersecurity is an absolute priority for the Forum,” he added.

“Cybercrime has no borders. It affects every company, every industry and every country – therefore, we can’t fight it alone. The World Economic Forum is one of very few international organizations that understands the scale of the growing cyberthreat,” said Herman Gref, Chief Executive Officer and Chairman of the Board of Sberbank. “The Forum’s efforts in connecting leaders from various countries and industries in times of the Fourth Industrial Revolution are absolutely invaluable. As a Founding Partner of the Centre for Cybersecurity, we believe that this initiative represents a huge leap forward in the global fight against cybercrime – by pooling resources with all the stakeholders, we can stop the proliferation of cyberthreats and make the digital world a safer place,” he added.

“What happens to the rule of law when rule of law cannot be enforced,” asked Troels Oerting Jorgensen, Head of the Centre for Cybersecurity. Participants acknowledged the need for information exchange between the private and public sectors and law enforcement. While companies collect extensive data on threats they have neither the power nor the mandate to pursue cyber criminals. The public sector and law enforcement, on the other hand, would benefit from access to that data to more effectively combat cybercrime.

“Fortinet firmly believes in the importance of collaboration and information-sharing to combat cybercrime. Being named a Founding Partner of the new Centre for Cybersecurity is important for global multistakeholder collaboration and yet another step forward for our own mission to secure the largest enterprises, service providers and government organizations in the world,” said Ken Xie, Founder, President and Chief Executive Officer of Fortinet.

Senior law enforcement officers shared information on existing and emerging cyberthreats with the multistakholder meeting. They identified ransomware, social engineering, Darknet markets and – despite the security potential of blockchain – threats related to cryptocurrency as persisting concerns. Physical convergence of IoT, offensive AI, cloud computing, data security and online channel threats will be “growth” areas for cybercrime in 2019.

Business executives that had recently experienced data breaches and cyber incidents shared their experience, highlighting the importance of direct access for CISOs to CEOs of the affected company. Other companies introduced a security metric for all employees indexed to a quantitative score in their performance evaluations.

“To defend against cyber threats, we need to act collectively to make the internet a safer place. The World Economic Forum is bringing together major cybersecurity leaders from all over the world to collaborate on some of the most pressing cyber issues facing our society. As a leading provider of security consulting services globally, Accenture is looking forward to the opportunity to work with other companies to help drive innovations across our connected world,” said Kelly Bissell, Senior Managing Director of Accenture Security.

Experts from the investment community warned that as the cyberattack surface expands, incentivizing and measuring cybersecurity becomes more difficult and important. Investors needed clear parameters and benchmarks to evaluate whether a company and its practices are cybersecure – an increasingly important step of due diligence. Meeting participants agreed to take initial steps towards developing a viable tool for the investment community to incentivize secure and responsible innovation. The results will be presented in New York in spring 2019.

Participants from the public and private sectors discussed the importance of clear and enforceable principles to guide behavior on our shared networks. In light of the many alliances and accords being developed in recent years, most recently the Paris Call for Trust and Security, participants focused on the importance of developing effective operational steps to solve for trust-building and standards challenges.

Chief information security officers (CISO), government and law enforcement officials from 26 countries identified the lack of a sufficiently large and diverse talent pool as a major challenge to improve cybersecurity across sectors. A dedicated working group on diversity and inclusion at the Centre for Cybersecurity highlighted significant discrepancies among the numbers of men and women in the cybersecurity workforce. In North America, for example, women represent a mere 14% of those involved with cybersecurity. In Europe, female inclusion is 7% while in the Middle East, 5%. Attempts to create a more inclusive cyber workforce should not stop at gender but also make the field more welcoming and attractive for professionals of more diverse backgrounds and cultures.

The Centre for Cybersecurity also announced today that Accenture, Fortinet and Sberbank will be the Founding Partners of the Centre. Checkpoint Software, Deloitte and Equifax extend their support to the Centre for Cybersecurity as Partners.

The Centre also signed agreements with Europol, Interpol, the Israel National Cyber Directorate, the Organization of American States, the UK National Cyber Security Centre, the UC Berkeley Center for Long-Term Cybersecurity, as well as with the Global Cyber Alliance.

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