New Delhi, July 22 -- Artificial intelligence (AI) and other automation technologies could unlock around USD 228 billion in annual value for the US architecture, engineering and construction (AEC) sector by 2030, while AI's impact on the European construction sector alone could reach approximately USD 126 billion, according to a McKinsey report.

The report noted, AEC is one of the world's largest industries, with global construction output estimated at around USD 15 trillion in 2025 and projected demand expected to reach USD 22 trillion by 2040.

However, the sector continues to face stagnant labour productivity, which rose by just 10 per cent, or 0.4 per cent annually, between 2000 and 2022, compared with a 90 per cent, or 3 per cent an...