According to Greg Bentley, CEO of Bentley Systems, when investing in new technology, too much emphasis is placed on the initial cost and the industry must be concerned with the profits generated over the life of the assets.
Bentley’s comments came after 35% of delegates noted the difficulty of quantifying financial benefits at a session dedicated to accelerating technology adoption during McKinsey’s Global Infrastructure Initiative this week the greatest challenge in the introduction of new technologies in the construction sector.
Bentley said, “Financial incentives are vital to all of us.” But he added that there are systems in place to quantify the financial benefits, and that engineers need to look past the end of construction to see it.
“Infrastructure owners will benefit most from creating digital twins,” he added. “However, it is not very likely that they will be able to maximize the creation, curation, and analysis that can be applied to digital twins to maintain usability and adaptability for the extension of life – that should be the work of engineers and engineers The value chain should have this value incentive to create new business with new offerings for infrastructure owners that improve their business model. Engineering firms should invest in intellectual property and it should be proprietary analysis, data benchmarking, etc. I think everyone will benefit from this type of opportunity and new business sharing. “
Bentley urged the construction supply chain to stop thinking about its results and how the data generated during construction could be used to make better decisions during the operational phase of the infrastructure. He said that digital twins created a system for this, but engineers no longer need to think that cost is only construction related to realize the benefits.
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