28 Jun 2022

149

Impact of Emerging Technology on the Economy of Ireland

Format: APA

Academic level: University

Paper type: Research Paper

Words: 1150

Pages: 4

Downloads: 0

The Current Problem Facing Ireland 

The main problem facing Ireland is housing. A worsening housing crisis has characterized the last seven years. The number of homeownership has been dropping, soaring prices of rentals, evictions, and homelessness have been climbing sharply. Dublin is the central part of Ireland on the housing issue. In the last 5 years, the housing crisis has doubled. The primary housing crisis was a recession, a challenge that led to the death of cheap accommodation. In Dublin, renting an apartment is expensive, thus resulting in rising cases of crammers. The government estimates that 30, 000 to 50,000 housing units are required annually to ease the growing housing crisis. The housing crisis challenge in Ireland requires a technological solution. The paper provides an overarching solution to Ireland's housing crisis by analyzing emerging technology in the housing construction industry. 

A Technological Solution to The Housing Crisis 

The housing problem is rising exponentially in Ireland, resulting in technology's need to reverse the trend. Since the significant challenges are associated with a high construction cost, the country needs to utilize offsite volumetric construction technology. The technique allows for faster development of houses at a lower cost. The innovation involves creating completely bespoke solutions by the investors for sites of different sizes for the clients. The government should offer tenders to the companies dealing with offsite volumetric construction. The choice is informed by their tendency to deliver high-quality and bespoke housing projects quicker and at lower prices than traditional construction companies. The technology is 30-60% faster in construction than traditional building methods ( McIntyre, 2021) . In this construction method, kitchens, brickwork, and windows are pre-installed in the production line. The activities lead to a reduction in the labor requirements and time needed during the house's installation in the place identified by the homeowner. Ireland's cost of owning a house is relatively high, and therefore, individuals from middle-income class earners or government agencies can consider utilizing the means of construction. The entire construction process takes days before it can be installed and used for shelter, reducing the cost and waiting time needed before the usage. The technology application also allows for fewer defects because it is based on construction under factory conditions. 

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Hype Cycle and 6Ds of Disruption Model 

Offsite volumetric construction is an appealing and successful method that rests in the repeatability of design and units as per the client's desire. Most parts of the world are adopting construction technology due to its simplicity in constructing houses ( Goh & Goh, 2019) . Volumetric modular construction is on top of the hype cycle. Different stakeholders in Ireland who are engaged in the construction of residential houses are currently utilizing the technology. The building design does not need additional infrastructure, which has enabled most people to move into their houses immediately after it is installed. The volumetric construction design involves pre-fitting the intended construction materials such as timber or metal with heating, electrics, internal finishing, and plumbing ( Goh & Goh, 2019) . The construction technique is viewed by many experts as fast, cost-effective and reliable in the construction of houses. Fitting of significant components of a house is done in the company of production and commissioned before being taken to the site where a foundation has already been prepared. 

Offsite volumetric technology is based on digitalized, deceptive, demonetized, and disruptive six Ds of emerging technology model. The construction technique has been digitalized, and thus, most Ireland people can access construction services through the internet. People can acquire information about the cost, size of the building, and other house construction information through the internet ( Goh & Goh, 2019) . The deceptive nature of the offsite volumetric construction is associated with the speed at which a house is built. As compared to traditional construction methods, the technology allows the building of many houses within a short period. The construction speed will allow the country to curb the fast-growing housing challenges. Demonetization is viewed as another six D's key steps of emerging technology. The cost of construction using the technological method is cheaper, and thus, it can be managed by most Ireland citizens. Offsite technology will allow Ireland citizens from low and middle income to have their own homes because the technological houses are 60% cheaper than traditional ones ( Norris & Byrne, 2017) . Due to low cost, government initiatives and private organizations can sponsor low-cost houses to resolve Ireland's homeless challenge. The utilization of offsite technology also allows for disruptive 6Ds of emerging technology. The effectiveness, speed, and cost associated with volumetric construction have outperformed the traditional methods. The majority of the people will consider utilizing technology in constructing a house. 

Effects of the convergence in Hype Cycle and 6Ds of Disruption Model 

The convergence of the hype cycle and 6Ds of the disruption model will result in the displacement of the existing technology in construction. The innovation is based on new approaches in house construction, which is easier, and therefore, it may continue to be embraced as a construction method in Ireland. The convergence will also result in an enhancement in construction oversight and accountability. The technology trend will necessitate new policies and regulatory approaches in house construction to prevent issues such as reducing quality, delays, and fraud. The development of ethically acceptable terms in construction technology fosters its transparency. 

Sustainability in The Country’s Economy 

Construction of a house in Ireland is relatively expensive compared to the average amount earned by its citizens. Building a house costs ranges between $126,000 and $161,000, an amount that cannot be earned by a majority of people ( McIntyre, 2021) . Implementing offsite construction technology will help address the cost of building a house because it is cheaper than traditional methods. The industries will help enhance most homeless people's livelihood, reducing poverty levels in the country. The technology is also new, and it requires workers due to an increase in demand for housing. The companies dealing with construction will act as employers, which will cut the unemployment challenge affecting Ireland. The creation of job opportunities will help promote Ireland's economy ( Norris & Byrne, 2017) . Similarly, the method will reduce government and private sector expenditure in housing construction. Housing costs and rent are high, and thus, the utilization of the technology will help Ireland citizens to improve their lifestyle due to automatic reduction in overall expenditure. 

Multinational Corporation in Ireland 

Royal BAM Construction Company in Ireland could help in sustainability issues by implementing offside volumetric technology. The company has been in construction since 1958, and therefore, it understands matters affecting housing in Ireland ( Goh & Goh, 2019) . The company can integrate the technology in their construction line to allow housing needs for low, middle, and high-income earners to be met in Ireland. The initiate could support sustainability since it will facilitate employment creation and provide construction services favorable for different social classes. The company can also promote sustainability in Ireland by partnering with the government to construct technological houses. The initiative will allow better living conditions for Ireland's homeless people by reducing the cost of rent and homeownership. The program's implementation will also allow for sustainability by reversing the current trend characterized by a fast-growing homeless population. 

Conclusion 

The housing crisis in Ireland is characterized by an increasing number of homeless, high rental prices, and evictions. Based on government statistics, housing shortages require the setting up of relatively 30,000 houses annually to be reduced. Using the traditional technology might be ineffective, and thus, the government should consider utilizing offsite volumetric construction technology. The method involves the development of a house in an industrial setup before installing it. The homes constructed using the technological technique are cheap, and it takes few days. Implementation of the housing technique by multinational corporations such as Royal BAM will decrease Ireland's housing crisis. 

References 

Goh, M., & Goh, Y. M. (2019). Lean production theory-based simulation of modular construction processes.  Automation in Construction 101 , 227-244. https://doi.org/10.1016/j.autcon.2018.12.017 

McIntyre, A. P. (2021). Home Truths: Property TV, Financialization, and the Housing Crisis in Contemporary Ireland.  Television & New Media 22 (1), 65-82. https://doi.org/10.1177%2F1527476420975755 

Norris, M., & Byrne, M. (2017). A tale of two busts (and a boom): Irish social housing before and after the global financial crisis.  Critical Housing Analysis 4 (2), 19. http://dx.doi.org/10.13060/23362839.2017.4.2.383 

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StudyBounty. (2023, September 15). Impact of Emerging Technology on the Economy of Ireland.
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