With the retirement of baby boomers in full swing, the construction industry is grappling with its biggest challenge: refilling its pool of employees. But it faces significant resistance among younger workers. Many of them consider the field unstable after six years of double-digit unemployment in the wake of the Great Recession. Or after constantly being told by parents, teachers and politicians that a college education is paramount, they find the work undesirable.

To attract replacements who grew up playing Call of Duty, some construction companies, unions and schools have turned to simulators that replicate jobs done by heavy equipment, like pushing dirt or lifting steel. Whether it will persuade enough digital natives to embrace hard hats is unclear, but the industry agrees that a revitalization is necessary.

While many executives acknowledge the potential of new technology, they often hesitate to risk multi-billion-dollar projects on applications they consider unproven. To create greater value from public and private spending on large capital projects, governments can help clear the path and bring new technologies to bear.

Using technologies to boost construction productivity can have a profound impact on public and private spending.