Real estate advisor Colliers is working to improve efficiencies in the construction industry through its artificial intelligence-enabled platform, CoGence.
Designed to detect anomalies at construction sites and generate a precision quality report, the tool is being applied to several of the firm's projects. The latest evaluation of the platform recorded 79% reduced project delays, 91% early defect detection and 91% savings on on-site visits and monitoring, Colliers said.
CoGence is an AI-enabled project management tool that uses real-time point cloud data scans for the detection of construction anomalies and defects such as cracks, honeycombs, and blisters to generate quality reports. It utilises thermal analytics for non-penetrative assessment of concealed building services for their integrity. CoGence automatically notifies concerned personnel of defects detected, thereby enabling early action.
According to Colliers, the platform utilises deep learning, neural networks, and computer vision and improves remote monitoring. The tool provides a measurable 3D virtual model of the construction site with walkthroughs, reflecting the real-time work completed on site. It has 99.9% accuracy and the ability to scan 50,000 square feet base built or 20,000 square feet fitted-out space of floor plate in 30 minutes, Colliers said.
The Indian real estate sector is witnessing a shift as global investors focus on the Indian market, given the rising demand for asset classes such as residential, commercial, industrial, data centres, retail and hospitality. This demand has fuelled the need for higher efficiency and turnarounds in the construction industry.
Colliers said that it has been investing 5% of its Ebitda into the development of new tech platforms to better serve real estate stakeholders, including developers and investors.
"At Colliers, we recognise that technology is the key to the future of the construction industry. By combining strategy, technology and human capabilities, we believe we can deliver significant business impact for our stakeholders,” said Argenio Antao, chief operating officer, Colliers India.
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