The public launch of OpenAI’s ChatGPT in November 2022 set off renewed conversations about the impacts and applications of artificial intelligence (AI) and related technologies across a range of industries and economic sectors. In the U.S. utility construction sector—which is facing chronic labor shortages amid historic levels of federal infrastructure investment—AI can serve as a powerful tool for increasing productivity, efficiency, and safety on worksites and in back offices alike.
However, in the highly fragmented utility construction market, the technical features, sector-specific applications, business benefits, and downside risks of AI are not yet well understood, curtailing adoption by construction firms and general contractors. According to the Associated General Contractors of America (AGCA), 70% of U.S. construction firms report that they have not invested in even pilot-scale deployments of AI, despite a growing ecosystem of construction technology providers developing AI-enabled solutions for the industry.
In this Analyst Presentation, delivered at the National Utility Contractors Association (NUCA)’s Annual Convention & Exhibit in March 2024, Bluefield analysts provided an overview of the current state and future trajectory of AI in the utility construction sector.
Key topics covered:
- Definitions of AI and related technologies
- Review of market drivers and trends impacting the adoption of AI in the utility construction industry
- Overview of current AI applications and select technology providers
- Assessment of AI opportunities and risks for business leaders in the sector
