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27 Years at DPR: How a $90M Tech Budget Drives Construction Innovation
Manage episode 460721594 series 3481938
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Note: This episode is a Re-Release from Corporate Innovations.
Big tech investments without testing? At DPR Construction, that's a hard NO. Even with a $90M annual tech budget, they won't invest until they've tested solutions on actual projects.
In today's episode of Corporate Innovations from Bricks & Bytes, we had Atul Khanzode, CTO of DPR Construction, sharing invaluable insights from his 27+ years of experience in construction technology and innovation.
Tune in to learn about:
✅ Why DPR requires testing every solution before investing, after losing $500K on an untested startup
✅ Their unique "discipline innovation approach" focusing on 5 key areas: safety, quality, sustainability, supply chain, and productivity
✅ How they manage a $2-3M annual innovation budget separate from their main tech spending
✅ Why they partner with OpenAI, Microsoft, and Autodesk instead of building everything in-house
Listen now on Spotify to hear Atul's practical advice for construction tech startups and learn how one of America's largest general contractors approaches innovation
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Chapters
00:00 Intro 02:40 The Evolution of Technology in Construction 05:41 Defining the Role of a CTO in Construction 08:36 Measuring Success in Construction Technology 11:29 Challenges of Innovation in the Construction Industry 14:45 DPR's Innovation Strategy 17:34 Navigating the Technology Adoption Process 20:46 Learning from Technology Pilots 23:41 Addressing Industry Pain Points with Technology 26:35 Investing in AI and Future Technologies 30:51 Strategic Partnerships in AI Development 32:19 Budgeting for Technology Investments 33:01 Identifying Key Stakeholders for Technology Solutions 34:20 Evaluating Technology Costs and ROI 36:02 Lessons from Failed Technology Implementations 38:05 Investing in Construction Technology 40:49 Strategic Investments and Core Business Alignment 43:03 Operational Tools for Investment Management 45:26 Emerging Trends in Construction Technology 46:55 Advice for Startups Pitching Technology Solutions 49:00 Integrating Technology, Process, and Organization
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