In 1983, the Royal Perth Yacht Club’s boat, Australia II, won the America’s Cup, ending the New York Yacht Club’s 132-year domination of the event, the longest winning streak in sporting history. How did they do it? Australia II’s innovative ‘winged keel’ design fundamentally changed the way boats sailed through the water, literally giving them wings. The yachting world would never be the same after that. Now, you’ll never get anywhere near the America’s Cup if you don’t have a flying yacht.

Where is construction’s version of the winged keel and the new flying boats? Where is the innovation that will move us from a 30-person crew that sails pretty much as boats did when the America’s Cup started in 1851 to the 12-person crew that literally flies through the water?

There have been plenty of innovations in construction. Modern methods of construction employing off-site factories; robotic bricklayers; 3-D printers; new materials that are stronger, thinner, less carbon-intensive… and yet none of these innovations has managed to change the way we construct the vast majority of our buildings.

Meanwhile, other sectors are leaving us in their wake. Not just IT but manufacturing, financial services, consumer goods and pharmaceuticals. They have revolutionised their processes and business models. They have become the new preferred employer for the best and brightest coming out of our top universities.

Construction needs total disruption. New business models that allow investment in innovation and properly training the next generation work force. New ways of working, that mean clients, consultants, contractors and the supply chain collaborate seamlessly.

The new construction would then attract more investment (both public and private sector), top talent, and the respect it deserves for providing the essential shelter and infrastructure that modern society requires.

Sir James Wates CBE will challenge the audience to lead the change for construction. The speech will explore topics such as...

• Are any other countries doing better?
• What other sectors have truly transformed? What was the key ingredient?
• Would licencing of builders/contractors help? What can we do to improve margins and reduce the number of loss-leading bids, promoting a more long-term perspective.
• How has technology sparked disruption? When does technology really disrupt the model and when does it simply evolve the status quo?