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In a ground breaking move, Colliers, a trusted name in real estate advisory services, is making waves in the tech sector with its cutting-edge AI-enabled platform, CoGence. This innovative tool is designed to identify anomalies at construction sites and generate highly precise quality reports, and it is rapidly becoming an integral part of numerous projects within the firm. The latest evaluation of the platform has revealed astonishing results, including a 79% reduction in project delays, 91% early defect detection, and a remarkable 91% reduction in on-site visits and monitoring costs.
Boasting an astounding accuracy rate of 99.9%, CoGence is poised to revolutionize the construction industry. Users have the ability to download as-built models in both 2D and 3D formats and seamlessly integrate them with Autodesk products like AutoCAD and Revit. What sets CoGence apart from its competitors is its impressive efficiency; the platform can scan an impressive 50,000 square feet of base-built or 20,000 square feet of fitted-out floor space in just 30 minutes.
Colliers has shown its commitment to innovation by investing 5% of its EBIDA into the development of new tech platforms aimed at better serving real estate stakeholders, including developers and investors. Among CoGence's standout features is its precise automated quantification and tracking of quantities against Bill of Quantities (BoQs) and schedules, significantly enhancing the efficiency of construction projects.
The Indian real estate sector is on the brink of a paradigm shift, drawing the attention of global investors due to the soaring demand across various asset classes, such as residential, commercial, industrial, data centres, retail, and hospitality. This heightened demand has underscored the pressing need for increased efficiency and quicker turnarounds in the construction industry.
Colliers' CoGence platform has emerged as a gamechanger, providing real estate professionals with the tools they need to thrive in this dynamic market. With its remarkable ability to detect anomalies, reduce delays, and slash monitoring costs, CoGence is undoubtedly poised to play a pivotal role in shaping the future of construction in India and beyond. As the industry continues to evolve, Colliers remains at the forefront, committed to delivering innovative solutions that drive progress and efficiency in the real estate sector.
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