Digital tech construction materials were 46 percent higher at the end of 2022 than in January 2020 . In addition to this escalation , the industry is struggling with a lack of real-time and accurate data , hindering effective decisionmaking . Further , transparency for investors is inadequate ; and risk management practices are immature and reactive in nature .
These harsh realities point to a need for substantial changes in the industry . New ways of thinking are necessary , along with better ways of working that can be deployed across the entire capital project life cycle . The creation of a digital office within a capital project presents a catalyst for significant change in the industry . The digital office of the future will use data and digital technologies to provide insights , transparency , better coordination and predictive risk modelling to transform capital project outcomes . The digital office is not simply an expansion of the traditional technology function within a project . Leveraging lowcode / no-code platforms can drastically reduce
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