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 EBIDA 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.
