Post Catastrophe Imagery and AI-derived property damage and condition data unite to help insurers process customer claims more efficiently.
New research found that almost all (95 per cent) of Construction, Engineering and Property (CEP) business leaders in Australia say that decarbonisation and emissions reduction is central to their organisation’s overall sustainability agenda, compared to just 86 per cent of those from all other sectors.
Research commissioned by Nearmap found that more than four in five (83 per cent) of CEP leaders are optimistic about the potential of technologies like location or geospatial technology and AI to drive substantial carbon emission reductions. Across all other sectors, that figure falls to just 64 per cent.
The construction industry alone is one of Australia’s largest industries, responsible for approximately 9 per cent of the country’s GDP. However, the built environment sector has a disproportionate amount of greenhouse emissions – it is responsible for one-quarter of Australia’s emissions. This presents a mammoth opportunity for the industry to lead in achieving net zero carbon for Australian buildings, and it could be a reality by 2040.
Location intelligence technology tools that enable virtual site visits have the potential to help reduce carbon emissions. Having one worker conduct just two site visits virtually each day1 — that would normally require 1 hour travel time — can have a significant impact. Nearmap estimates that companies can potentially reduce up to 5,280 kg of carbon emissions and save up to AUD 34,100 a year per worker. Between July 2022 and June 2023, Nearmap customers in Australia saved approximately 863,728 tonnes of greenhouse gas2, or the equivalent of more than 120,000 round trips between Sydney and Los Angeles3.
The research deemed the technologies most useful in helping reduce carbon emissions or achieving sustainability goals by leaders from the CEP sector include:
While 93 per cent of CEP leaders believe technologies such as aerial imagery and geospatial analytics can help reduce carbon emissions and achieve sustainability goals, the reported usage of technology across the sector is low in comparison (75 per cent) with the research identifying the top reasons for this as:
For the CEP sector to make even further strides in reducing emissions and decarbonising, it will be crucial for business leaders to have a deeper understanding of how they can redesign business processes. Integrating technology into the business process will not only drive efficiencies, cost savings but more importantly, well-position organisations on a path towards sustainable operations. Location intelligence, for instance, can help CEP organisations plan projects, monitor progress, and more without requiring in-person site visits. A deep dive into the workflows that can be conducted virtually to save emissions can be found in the white paper.