This CEO Is Using IoT Technology to Transform the Construction Industry APRIL 10, 2018 KARTHIK RAU As Founder and CEO of FLICQ, Karthik Rau is laying the groundwork for an innovative IoT technology that uses smart sensors and proprietary algorithms to address operational and technical challenges in the industrial and consumer markets. Karthik believes that edge computing, a means of optimizing cloud computing systems by using data processing at the “edge” of a network, has the power to transform the construction industry. The Case for IoT Technology in Construction The Internet of Things (IoT) has the power to transform industries— and the construction sector, while not at the leading edge of adoption, is not far behind. IoT technology and applications are finding their way into not only the construction of new buildings but also the maintenance and operation of existing structures. Uses of IoT in Construction While the use-cases are almost endless, the following four applications are gaining traction in the construction industry: Worksite safety – construction managers and operators are using real-time information about personnel, worksites, and job conditions to run their operations more safely. Predictive maintenance – sensors provide information about the health of mechanical assets like pumps, elevators, and HVAC compressors which can be used to increase uptime and reduce maintenance costs. Energy monitoring and optimization – smart buildings can adapt to things like changes in the environment, usage models, footfall, and other occupational characteristics, thereby optimizing energy consumption. Construction optimization – smart sensors embedded into the structures during construction continue to provide real-time information about the structural health of the building years after completion. The IoT Technology Data Conundrum Construction companies embarking on the digital transformation journey tend to start with the premise that they need to solve the data acquisition problem, i.e., aggregating data from existing databases combined with real-time data is sufficient to make their operations smarter. As other industries have discovered, however, gathering data alone rarely results in true transformation due to the fact that the rest of the company’s processes generally are out of step with the IoT advancements. In fact, McKinsey, Cisco, and IBM have recently published articles that claim that only 1% of the industrial IoT data is actually analyzed and available for decision-making.