Recently, a large-scale construction technology conference was held in the UAE. First Bit sponsored and participated in the event concluding with First Bit’ CEO Aleksandr Smolianinov presenting the Contractor of the Year award. Here are the main highlights from our representatives.
First of all, being an active participant of the conference, our team learned a lot about trends and innovations in the construction industry. Mike Teplov, Head of Growth Department at First Bit, shared his take on the difficulties that construction businesses will encounter over the next five years:
First of all, being an active participant of the conference, our team learned a lot about trends and innovations in the construction industry. Mike Teplov, Head of Growth Department at First Bit, shared his take on the difficulties that construction businesses will encounter over the next five years:
Adaptation to rapidly evolving technologies, such as BIM, AI, and IoT, is a quite challenging forecast here. Construction companies may encounter resistance from employees accustomed to traditional working methods such as handwritten documents. That is why they must focus on change of management and staff motivation, as well as invest in employee training to successfully implement these technologies.
Mike Teplov
Head of Growth Department at First Bit
Panel: State of digital adoption 2024
Mike also made his point about the increasing demands for environmental sustainability in the UAE. The UAE is currently making significant efforts to reduce its carbon footprint and advance sustainable projects. This will require investments in new materials and technologies, as well as changes in design and construction approaches. Here is how Arsalan Gul, Sales Manager, puts it:
The challenges in the industry are significant. They are related to the cost overruns and delay in projects, safety concerns, sustainability and environmental impact, technology integration and quality control. The good thing is that the solutions are available in the market as well. Companies should consider investing in the project management software, enhanced safety measures, technology adoption and improved quality control.
Arsalan Gul
Sales Manager at First Bit
Arsalan Gul doing an interview at ConFex 2024
Of particular note among the mentioned technologies are ERP systems that are essential for automating accounting and integrating various business processes within construction companies, such as project, financial, procurement, human resources, and inventory management. These systems enhance planning and control, improve efficiency, and reduce the risks of errors and delays that can lead to project downtime and financial losses.
There were other ERP companies participating at the conference which was a great experience for our team. Ubaid Ur Rehman, First Bit’s Project Manager, highlighted the value of understanding competitor ERP solutions, their strengths, weaknesses, and customer approach strategies.
There were other ERP companies participating at the conference which was a great experience for our team. Ubaid Ur Rehman, First Bit’s Project Manager, highlighted the value of understanding competitor ERP solutions, their strengths, weaknesses, and customer approach strategies.
Participating in such events enriches our market knowledge, particularly regarding the construction sector's requirements.
Ubaid-Ur-Rehman Chaudhry
Project Manager at First Bit
The First Bit team also gained insights into the needs of construction businesses from their representatives:
It was very enlightening to hear about the challenges faced by other companies in the construction industry. Understanding the problems they encounter allows us to better navigate our own strategic plans.
Aleksandr Smolianinov
CEO at First Bit
Meeting the representatives of the construction companies
The second day of the ConFex 2024 culminated in the awards ceremony. Aleksandr Smolianinov, the CEO of First Bit, honored the Contractor of the Year award to Nesma & Partners.
Contractor of the Year unquestionably remains one of the most prestigious awards in the industry. It symbolizes the highest standards of quality, innovation, and professionalism in the construction sector. For the winner, Nesma & Partners, it represents a significant acknowledgment of their merits and successes. And for their team, it is a great source of pride and motivation.
Aleksandr Smolianinov
CEO at First Bit
Aleksandr Smolianinov honors the “Contractor of the Year” award
Arsalan Gul, also found it captivating to witness the dedication of companies and individuals striving to make a difference and achieve recognition. He expressed his happiness for everyone who reached the nomination stage.
Here are some more final insights on the event from our employees:
Here are some more final insights on the event from our employees:
Personally, I found the event to be an exhilarating opportunity to engage with industry leaders, gaining insights into their strategies and operations. It was eye-opening to discover that despite substantial investments in tier 1 software by some companies, they still grapple with operational inefficiencies due to a lack of industry specificity.
Ajin Babu
Sales Consultant at First Bit
I pretty much liked the event due to the blend of learning, networking and exposure to the latest industry trends. The combination of practical demonstrations, expert insights and the opportunity to see innovative technologies in action made it a highly engaging experience.
Arsalan Gul
Sales Manager at First Bit
First Bit team at the conference
ConFex brought together over 1,000 leading figures from the industry, including project owners, developers, builders, advisors, and tech experts.
The agenda of the event included numerous panels and talks within four tracks:
The agenda of the event included numerous panels and talks within four tracks:
Viability and competitive edge
Productivity & performance
Climate & decarbonisation
Sustainability, well-being and social agenda
They covered a range of digital disciplines, including the Internet of Things (IoT), Building Information Modeling (BIM), Machine Learning, Enterprise Resource Planning (ERP) transformations, innovative building materials, etc.
The conference was an excellent chance for people to share ideas and learn about new ways to work better, be more competitive, and focus on building in a sustainable way within the fields of architecture, engineering, and construction.
The conference was an excellent chance for people to share ideas and learn about new ways to work better, be more competitive, and focus on building in a sustainable way within the fields of architecture, engineering, and construction.
