Vietnam Construction Industry Overview

Vietnam Construction Industry Overview

The Vietnam construction industry is one of the top performing industries among Asian countries. Covid-19 has shaken the entire world badly, nevertheless Vietnam Construction Instructing is standing strong. According to Statistics, it has been found that even amidst this pandemic, Vietnam's construction industry has grown very well in the last year (2020). An overall growth of 5.5% has been seen within these four quarters.

Unfortunately, there are some of the factors due to which the overall growth is less as compared to the expected growth.

Covid-19 has affected construction project management in a very bad manner that leads to slower growth. Main reason behind this poor performance is availability of resources and manpower. These issues can be resolved by AI; we’ll read that later. Restrictions in the market is one of the biggest reasons behind this slower pace that leads to find raw materials and availability of manpower more difficult. Not only unavailability of resources but also the safety concern has become a big issue.

Construction industry is something that depends on manpower and raw material, the less the manpower and raw material, the less would be the output. This is one of the factors that is pushing Vietnam’s Construction Industry behind in the race of performing well.

Well-quoted by someone- “We don't even know how strong we are until we are forced to bring that hidden strength forward.” Until and unless industries will face some challenges, they won’t be able to explore new opportunities that they take for granted.

Here the question arises, is there any possibility to get rid of these obstacles?

If yes, what is that and how will it affect the industry’s budget?

Changes are something that can bring an industry from its worst phase to the best. Everyone should learn to adapt to the change as soon as possible because it is not wise to sit idle and wait for things to get normal. When humans fail to achieve something then only, we understand the worth of technology. The solution against these challenges is nothing but technology. There is a lot of such technology that makes human’s life so much easier. Artificial Intelligence is one of those technologies that is widely used for the betterment of Industry’s growth.

Using Artificial Intelligence related solutions will help in enhancing the overall growth in various manners:

● Safety Measures

● Improvement while executing the strategy/Plan

● Proper Communication

Artificial Intelligence related tools would be able to analyze laggings, clashes, mishaps and communication barriers. AI- Cameras can perform some of the extraordinary tasks like tracking the construction site progress and scanning the safety measures during the construction work with accuracy for the whole day.

Not only this but also AI related tools would be able to track the progress against the plans stored in the software. Once the management team receives the data, they will start taking relevant actions and can avoid a lot of possible problems that could happen in future. Besides, important delays and changes will trigger the AI tools and would be able to suggest the correction based on the scheduled plans. This would lead to all the stakeholders to remain active during an ongoing task.

Using AI related tools, we can also keep an eye on labourers whether they are safe or not and if there is any mishap about to happen the AI related tool will generate an alarm and thus, we can avoid such accidents. Furthermore, if a worker is not wearing the safety kit, the AI tool will again send an alert that will help the management to take relevant action.

Do you want to get hands-on to the viAct’s artificial intelligence & computer vision enabled automated construction monitoring tools?

Enroll yourself for Demo now!

---

Whitepaper for Construction Industry Safety and Productivity Solution