MIAMI—Out of the new list of the 50 top hottest preconstruction tech companies in the world, many of them are pushing artificial intelligence to make the industry more affordable and efficient.
The 2024 BuiltWorlds Pre-Construction 50 List illustrates top and emerging solutions leveraged by some of the largest contractors, engineers, and specialty contractors from around the world. Companies are selected based on a combination of direct industry feedback, case studies and survey data. This year, AI stood out as a theme.
“We’re not surprised to see more and more AI companies making the 2024 list for the best new tech because we’ve seen firsthand how AI is reshaping and improving the construction industry,” said Patrick Murphy, Togal.AI Founder & CEO. “Artificial intelligence is revolutionizing construction by making it faster, more affordable and more accurate. With AI, we are eliminating the timely, mundane processes that used to unnecessarily slow building down.”
Murphy is founder and CEO of Togal.AI, which has made the BuiltWorlds PreCon Top 50 list three years in a row. Togal.AI is an award-winning cloud-based estimation software that uses Large Language Models (LLMs) and custom AI tools to automate and optimize takeoffs in construction. Togal’s proprietary AI can automatically detect, measure, compare and label project spaces and features on architectural drawings with 97%+ accuracy. Some of the other estimating and construction management AI companies on this year’s BuiltWorlds list were InEight, Trimble, TestFit and AutoDesk Takeoff, to name a few.
Togal.AI was also first to bring ChatGPT to construction—allowing workers to verify construction plans and find answers in hundreds of pages of documents instantly by simply typing the question into their phones. The company recently reported 940 percent growth—going from 250 users in 2022 to more than 2,600 users in 2023—with some of the largest construction companies across the nation using its AI tools.
“The interest and demand for AI in construction is just continuing to explode and we expect even greater growth in 2024,” Murphy added.
About Togal.AI: Based in Miami, Florida, Togal.AI is one of the fastest-growing construction technologies, with thousands of users from some of the world’s largest contractors. Named by the South Florida Business Journal as a top startup to watch in 2023, Togal also won The Big 5 Global Construction Pitch Competition in Dubai, AGC Innovation of the year in 2023 and Miami’s eMergeAmericas Startup competition judged by Shark Tank’s Kevin O’Leary. The company was featured on the EntrepreneurTV show Elevator Pitch, selected for Venture Atlanta, and has made BuiltWorlds’ Pre-Construction 50 List three years in a row, which names the hottest construction-tech companies in the world.
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Read original story here: https://builtworlds.com/insights/2024-preconstruction-top-50-list/
