AEC Technology Paradox Lecture Notes

These flashcards cover key concepts and terminology from the AEC Technology Paradox discussion.

AEC

Architecture, Engineering, and Construction industry

Digital Maturity

A measure of how well a company has integrated digital technologies into its operations.

BIM

Building Information Modeling, a digital representation of physical and functional characteristics of facilities.

Interoperability

The ability of different information systems, devices, or applications to communicate and exchange data.

Venture Capital Activity

Investment funds provided to startups and small businesses with perceived long-term growth potential.

Training Infrastructure

The systems and processes in place to ensure employees are adequately trained.

Client Communication Gap

The lack of effective communication tools for professionals to connect with their clients.

CAGR

Compound Annual Growth Rate, the rate at which an investment grows annually.

Market Opportunity

A favorable set of circumstances that makes it possible to generate a profit or achieve success in the market.

Technology Adoption

The process of accepting and implementing new technologies into existing workflows.

Cost-Complexity Resistance

The hesitance to adopt new technologies based on their financial implications and complexity.

Change Management

The structured approach to transitioning individuals, teams, and organizations to a desired future state.

Demographic Profile

The statistical characteristics of a population, including age, gender, and income.

Reverse Mentoring

A mentoring relationship in which a younger or less experienced person advises a more experienced individual.

AEC

Architecture, Engineering, and Construction industry

Digital Maturity

A measure of how well a company has integrated digital technologies into its operations.

BIM

Building Information Modeling, a digital representation of physical and functional characteristics of facilities.

Interoperability

The ability of different information systems, devices, or applications to communicate and exchange data.

Venture Capital Activity

Investment funds provided to startups and small businesses with perceived long-term growth potential.

Training Infrastructure

The comprehensive framework of systems, resources, and processes—including digital learning platforms, formal certification programs, and internal mentorship—designed to develop employee competencies and support the widespread adoption of new technologies within an organization.

Client Communication Gap

The lack of effective communication tools for professionals to connect with their clients.

CAGR

Compound Annual Growth Rate, the rate at which an investment grows annually.

Market Opportunity

A favorable set of circumstances that makes it possible to generate a profit or achieve success in the market.

Technology Adoption

The process of accepting and implementing new technologies into existing workflows.

Cost-Complexity Resistance

The hesitance to adopt new technologies based on their financial implications and complexity.

Change Management

The structured approach to transitioning individuals, teams, and organizations to a desired future state.

Demographic Profile

The statistical characteristics of a population, including age, gender, and income.

Reverse Mentoring

A mentoring relationship in which a younger or less experienced person advises a more experienced individual.