||Despite the fact that it has taken a long time for construction industry to enter the information era, information technologies (IT) significantly changed and still changes the way professionals in building and construction (BC) industry work. Consequently, construction industry is in relatively early phase of adopting web-based technology, even though the web has already moved deep into its second phase. During the recent years, a phenomenon of Web 2.0 attracted a lot of attention not only in the Internet, but also in business community. It is considered as a next step and a major evolution of the traditional web from both a technological and social perspective. New on-line applications not only make tasks as individual and group on-line learning, communication, collaboration and creation easier, they also have the capability of upgrading the experience by using the vast amount of information from the Internet, previous sessions and so called collective intelligence of its users.The possible benefits of adapting Web 2.0 technologies, principles and strategies into construction industry are numerous. Using new approaches can affect marketing strategies, data and information exchange, customer contacts, life cycle management, knowledge management and can result in substantial savings in time and money, customers' satisfaction, improved internal and external communication and collaboration, etc. What is more, shift towards modern web can also have a positive impact on the name and brand of the company.This paper presents the concepts which can affect the way how construction industry currently works and the key reasons why the AEC community should seriously consider the shift towards the next generation of the web.