|The report showed that wearable technology has been attracting younger people. This year, it is expected that this segment of consumers will be the largest group of wearable users with a 38 percent increase / Photo by: dolgachov via 123RF|
In 2017, the global wearable AI market was valued at $10.23 billion and expected to reach $101.43 billion by 2026—a compound annual growth rate (CAGR) of 33.21 percent. Reports showed that the massive growth of smartwatches has been the primary factor alongside the increasing adoption among consumers. The wearable technology has provided users an alternative to bulky smartphones—miniaturized electronics that have mobile access to computational power.
As a result, various advanced wearable sensory hardware has been developed that offers minimal intrusive health monitoring platform for individual health service. eMarketer, the first place to look for data and research on digital for business professionals who need to be prepared for the work ahead, projected that 56.7 million people in the US alone will use a wearable device at least once a month in 2019.
The report showed that wearable technology has been attracting younger people. This year, it is expected that this segment of consumers will be the largest group of wearable users with a 38 percent increase. Smartwatches have provided great convenience among consumers across the world, which is why its market, along with fitness bands, has been dominant in 2018 with more than 85 percent share.
According to Inside Big Data, a news outlet that distills news, strategies, products, and services in the world of big data, the wearable AI market in the Asia Pacific will grow at a CAGR of more than 50 percent from 2019 to 2025. This is due to the increasing per-capita income in several Asian countries, particularly China and India.
The wearable AI technology is not only penetrating the healthcare industry but also in construction. Its primary goal is to provide portable and timely access to sensors, computers, and electronics, at the same time to improve the construction industry’s ability to collect and analyze relevant data to revolutionize worker protection.
Wearable AI in the Construction Industry
For a long time, the construction industry has been considered basic in the realm of technology, which is why it has been experiencing multiple problems involving job site safety, skilled labor shortages, tight margins, and unrealistic owner expectations. For instance, it has been reported that approximately 1 in 10 construction workers will experience a job site injury annually. At the same time, almost 5,000 workers will be killed on the job.
Recently, there has been an influx of technology developments in the industry. It is influencing worker safety and efficiency, architectural accuracy, construction time, and project management. One of the most interesting advanced technical additions to the sphere of construction is wearable AI technology. In fact, many construction companies are integrating technology in their production.
|For a long time, the construction industry has been considered basic in the realm of technology / Photo by: Ivan Kruk via 123RF|
According to Construction Dive, an online site that provides news and analysis for construction industry executives, wearable devices in construction are designed to collect and deliver data about the worker's environment, biometric conditions, and activities. They can detect and even warn employees of potential injuries and reduce the seriousness of an injury when it occurs.
Wearable AI technology can also improve safety within a construction site. For instance, the devices can warn the individual of a hazardous physical movement, provide audible or vibration alarms to warn workers when they are too close to danger, caution them when they are nearing exhaustion, alert emergency personnel and lead rescuers to the injured worker’s location, and even alleviate muscular and skeletal joint stress.
Wearable AI technology not only improves a construction company’s ability to manage safety among its workers but also enhances the whole production. Wearable devices allow them to view and evaluate performance data associated with the entire organization, job functions, job categories, job sites, and employees. The data gathered can be used to help in identifying what needs to be improved and providing the opportunity to alter operations before accidents or injuries.
Implementing Wearable AI Technology
ZDNet, a business technology news website published by CBS Interactive, reported that insurance firm The Travelers Companies is collaborating with contractor company Gilbane and Triax Technologies, a provider of Internet of Things (IoT) construction technology. The partnership aims to explore the potential safety benefits of wearable devices. Over the next 20 months, the three companies will outfit more than 130 workers with wearable devices on a construction job in New York City.
Additionally, the project aims to understand the risks, considerations, and potentially huge safety benefits of AI technology. They want to explore how wearable devices can improve worker safety, potential risks, factors to consider before implementation, and more. "This project will help us gain valuable data-driven insight," Rick Keegan, president of construction at Travelers, added.
The workers will be using the Spot-r Clip, a device that provides faster response time to possible injuries. It can automatically detect when a worker falls, which would provide supervisors real-time notification of their location and other safety incident details. The device also has a feature that allows workers to easily report hazards or incidents. Aside from that, the project will be handing workers a device that would monitor the location and use of construction equipment called Spot-r EquipTag. Another device is called Spot-r EvacTags that aims to alert workers when there are emergencies.
Many companies are now seeing the potential of wearable AI technology. Wearable devices can significantly improve the processes and systems in these firms and also ensure workers’ productivity and safety.
|Many companies are now seeing the potential of wearable AI technology. Wearable devices can significantly improve the processes and systems in these firms and also ensure workers’ productivity and safety / Photo by: Ahmet Misirligul via 123RF|