Because of its benefits and digitization, smart materials technologies are becoming increasingly popular worldwide, and smart building construction is becoming a new development trend. These technologies are essential for achieving a competitive edge in the construction sector in the twenty-first century. It is anticipated that smart materials will dramatically improve functionality in the development of materials technology by acting like living systems and becoming a component of a structural system that is sensing its surroundings. This study examines the advantages of implementing smart materials technology in the building sector, even if there is less interest in this trend overall, especially in developing nations, than in traditional buildings. This paper also examines the increasingly apparent conventional division between materials science and architecture. It offers a critical examination of smart materials, shedding light on cutting-edge approaches and strategies that will influence architectural design and underscoring the close relationship between the two disciplines. The benefits of smart materials technologies are highlighted in this study, and they include safer, more secure operations, cost-effective maintenance, efficient energy use, employment creation, healthcare management, and real-time monitoring. As such, emerging economies must fully comprehend these advantages. This study emphasizes the advantages of smart materials technology for developing nations and makes the case for the necessity of a collaborative framework between academics and industry professionals in the building industry to advance understanding and successful implementation of this technology.