The global construction industry experienced a 5% drop in company filings mentions of artificial intelligence in Q1 2023 compared with the previous quarter, with the highest share accounted for by Deere & Co with 800% year-on-year increase, according to GlobalData’s analysis of over 204 construction company filings. The growing application of Artificial Intelligence will prove to have a transformative impact on the construction sector. GlobalData’s Artificial Intelligence (AI) Market Size, Share, Trends, Analysis and Forecast report helps keep abreast of the latest trends in Artificial Intelligence, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, artificial intelligence was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of cloud and environment, according to GlobalData.
Of the top leading companies in the construction industry, Deere & Co had the greatest increase in references for artificial intelligence in Q1 2023, compared with the previous quarter. GlobalData identified 6 artificial intelligence-related sentences in the company's filings - 9% of all sentences - and an increase of 500% in Q1 2023 compared with Q1 2022. 3M’s mentions of artificial intelligence rose by 100% to 4 and Nidec’s by 300% to 4 and UltraTech Cement’s by 100% to 2 and AECOM’s by 100% to 1.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for artificial intelligence in Q1 2023 was 107.
To further understand GlobalData's analysis on Artificial Intelligence (AI) Market Size, Share, Trends, Analysis and Forecast by Product/Service (Specialized AI Applications, AI Hardware, AI Platforms, AI Consulting and Support Services), Enterprise Size Band, Vertical and Region, 2021-2026, buy the report here.