Insight_3rd Edition

For lawyers, AI is now important. AI allows us to draft simple pleadings in minutes, survey recent developments in a fewminutes, and assemble key research more quickly. What is the most important issue/challenge you are dealing with in your industry right now? The industry is evolving rapidly and there are huge advances being made in artificial intelligence at every level and in every way. This is impacting the work of lawyers serving those in the industry. How do you feel your industry has changed/evolved over time? Construction was very much a family business in the ‘50s and ‘60s. It began to evolve with the Philadelphia Plan and the Affirmative Action Plan, which drove capital out of the industry for a while. Now, we are seeing the end of the successful family business — they are being taken over by the mega-companies that have the capital and buying power to handle the various government regulations. So, there are very small weak companies and large powerful companies, and in the middle level, contractors are being eroded. Mid-level companies face heavy competition from both ends, weak and large, and that may further erode these businesses. What new innovations or technologies do you feel will shape the future of your industry? Technology has taken over construction. BIM, three- dimensional modeling programs for design and artificial intelligence for estimating, scheduling, supply chain management, and project management are all here. There used to be a lot of paper involved for a construction project: now the entire project is digital. For lawyers, AI is now important. AI allows us to draft simple pleadings in minutes, survey recent developments in a few minutes, and assemble key research more quickly — all of which means that we, as attorneys, will focus our time and attention on the more significant and intellectually demanding part of our work. What excites you the most about your industry? We are in highly uncertain times; commercial and retail real estate are under pressure. Commercial landlords are finding that tenants likely want less space. Retail tenants are looking to move business online, so warehouses and distribution centers are needed while storefronts are not as necessary. Pop-up locations might be used by retailers from time to time to introduce new product Third Edition | Marquis Who ’ s Who Insight 9 lines. Restructuring of debt for those properties seems likely. Additionally, commercial and retail tenants do not need interior construction services. Residential real estate is changing, as people may not feel as tied to cities and close-in suburbs. Also, the new popularity of working remotely may change the type of homes that people want. I look forward to a substantial infrastructure bill that will pump some money back into the construction sector of the economy and improve our bridges, roads, school buildings, tunnels, rail stations and lines, and airports.