Topics In Demand
Notification
New

No notification found.

AI revolution in construction with remote monitoring tool, CoGence
AI revolution in construction with remote monitoring tool, CoGence

December 20, 2023

33

0

The latest evaluation of the platform recorded 79% reduced project delays, 91% early defect detection, and 91% savings on on-site visits and monitoring.

Trusted real estate advisor, Colliers, has been carving a niche in the tech space with its AI-enabled platform, CoGence. Designed to detect anomalies at construction sites and generate a high precision quality report, the tool is widely being applied at 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.

With 99.9% accuracy, the AI tool is a gamechanger for the construction industry. Users can download as-builts in 2D and 3D and manage them on Autodesk products like AutoCAD and Revit. Optimizing time better than its counterparts, CoGence has the ability to scan 50,000 sq.ft. base built or 20,000 sq.ft. fitted out space of floor plate in 30 minutes.

The firm has been investing 5% of EBITDA into the development of new tech platforms to better serve real estate stakeholders including developers and investors. The precise automated quantification and tracking of quantities against BoQs and schedules is one of the platform’s key features that is significantly enhancing the efficiency of construction projects.

Indian real estate is headed towards a paradigm shift; global investors are pivoting towards the Indian market, given the high demand for several asset classes including residential, commercial, industrial, data centers, retail, and hospitality, among others. This scaling demand has given birth to the need for higher efficiency and turnarounds in the construction realm.

Keeping up with the pace of advancement in the global real estate landscape, the well-known project management firm is committed to investing in talent and technology that will scale its India business and contribute to the sector’s growth. Recently, the firm was awarded the ‘Most Innovative Best Practice in Digital Transformation’ title at the CII DX Awards 2023.

-by Argenio Antao, Chief Operating Officer, Colliers India.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Colliers India
Sukanya Dasgupta, Head Marketing and Communications - sukanya.dasgupta@colliers.com

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

© Copyright nasscom. All Rights Reserved.