Problem: Construction is one of the only industries that has not experienced constant technological revolutions. Specifically, there has been no meaningful advancement in painting since the beginning of human construction. Painting is a menial task that employs a lot of laborers, and automating this could fill a large gap in the market and free up labor for other, harder-to-automate construction jobs.
Solution: PaintJet is building crane-like robots that are able to cover walls with paints and protective coatings. These robots are primarily controlled by a human operator on the ground using a remote control. However, I can expect that this technology is on the frontier of becoming fully automated. These robots use a spraying nozzle similar to what regular painters might use to distribute the paint evenly around the structure. A combination of sensors and software ensures that the paint goes on evenly and in the right places. This technology allows buildings to be completed faster and cheaper, and makes the workplace safer because painters do not have to paint buildings at very high heights. There is rarely an opportunity to invest or bet on faster and cheaper construction. However, when there is, it is almost a sure-fire way towards a good investment.
Founders: Nick Hegeman and Steve Wasilowski founded PaintJet. Nick was prompted to found the company after witnessing a labor shortage for painters. Both founders seem to have taken new jobs in the recent year, but still show that they are working at PaintJet along with their new roles, according to LinkedIn.
Implications: PaintJet’s model has a lot of opportunity to scale in a way that would be game-changing in the construction world. In my opinion, if PaintJet can remove the human operator from the system, which does not seem like too much of a technical burden, it will become a massively successful company. If PaintJet were to successfully automate the painting process and scale, a lot of worker would inevitably lose their jobs. These workers, however, could be moved to other professions in the construction industry that would make labor cheaper, leading to lower costs and more construction put in place. Construction put in place is a key indicator for America’s success at bringing manufacturing jobs back home (painters could also work these new jobs) because new factories and plants have to be rapidly built for American goods to be cost-competitive. PaintJet also symbolizes a broader theme in construction. So often, when technology booms in other sectors, construction is left by the wayside. However, self-operating technology being pushed forward by self-driving cars could prove to be a huge leap in construction technology and push the industry forward in a way it has not seen before. Jobs like laying bricks or flooring, and related jobs like mowing lawns, seem to be ideal candidates for automation next. This raises many questions for the job market, but as an entrepreneur, it also raises the opportunity to find these workers meaningful career pivots into a new industry.
Conclusion: Technology cannot be considered revolutionary unless it meaningfully impacts industries outside of itself. Impacting construction is the pinnacle of a technology starting a revolution. Products like PaintJet’s can spell out the true extent to which AI will affect society. To be sure, there will be a lot of change caused by the automated industry, and being positioned to take advantage of this change is critical for entrepreneurs.