The construction industry can be late adopters when it comes to disruptive technology, but with the aid of GPS and telematics, the sector is undergoing its own revolution that can help accomplish more tasks efficiently.
A recent For Construction Pros article featured Trimble senior director Aviad Almagor, who gave his birds-eye view on where the industry is and where it’s heading in terms of disruptive tech usage. Almagor emphasized the importance of safety in the construction sector where workplace hazards are abundant.
“First and foremost, robotics are about improving safety,” Almagor stressed. “Considering the fact that about 20% of work-related injuries in the U.S. occur on construction sites, there’s a huge potential here.”
This can be alleviated with the help of autonomous robots that can take the place of humans, especially in dangerous tasks.
“Field robotics is quite a wide field, but I think that there are three groups of technologies involved. It’s about perception, guidance and bio-inspired technologies,” said Almagor. “A critical capability for a robotic system is the ability to move around and find its way from point A to point B.”
Investors who want broad exposure to the nascent, but quickly developing space of disruptive technology can take advantage of funds like the SPDR S&P Kensho New Economies Composite ETF (NYSEArca: KOMP).
- The SPDR S&P Kensho New Economies Composite ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Kensho New Economies Composite Index (the “Index”)
- Seeks to track an index utilizing artificial intelligence and a quantitative weighting methodology to pursue the potential of a new economy fueled by innovative companies disrupting traditional industries by leveraging advancements in exponential processing power, artificial intelligence, robotics, and automation
- May provide an effective way to pursue long-term growth potential by targeting companies within the sectors driving innovation within the new economy
More about KOMP’s index:
- Comprised of U.S.-listed equity securities (including depositary receipts) of companies domiciled across developed and emerging markets worldwide.
- Designed to capture companies whose products and services are driving innovation and transforming the global economy through the use of existing and emerging technologies, and rapid developments in robotics, automation, artificial intelligence, connectedness and processing power (“New Economies companies”).
- Incorporates components included in the New Economy Subsector Indexes (each, an “Underlying Index”) developed by S&P Dow Jones Indices LLC (the “Index Provider”). Each Underlying Index is comprised of securities of New Economies companies in a specific sector.
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