smart asset management

The terminology such as digital built environment and smart asset management, often referred to as Digital Construction, encompasses multiple technologies and processes related to information or project management and the management of related actionable events that trigger various outcomes.

Smart, connected technologies transform how we design, manufacture, use and maintain parts, products, and the entire build environment. The rapid technological developments refer ambiguously to Industry 4.0¹ (Mansfield, 2020), a term described by Schwab² as a subset of the Fourth Industrial Revolution consisting of technologies, software, and processes that are usually not associated with the AECO Industry.

However, the new technological advancements bind the physical, digital, and biological worlds². It creates an opportunity to connect the physical and cyberspace via distributed global Unified Cloud Platforms (UCPs) and emerging Application Programming Interfaces (APIs).

AECO Industry has realised the opportunity of technology for better management methods and information exchange, all areas interwoven with BIM and Digital Construction.

1 Mansfield, J., 2020. Industry 3.0 to Industry 4.0 The Journey for the Construction Industry [WWW Document]. (accessed 12.29.20).

2 Schwab, K., 2017. The Fourth Industrial Revolution. Currency.