Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry is notorious for its inefficiencies, delays, and cost overruns. However, a Hyderabad-based startup is changing the game by leveraging artificial intelligence (AI) to streamline the process. ProcureX, a one-stop solution for material sourcing, project oversight, and planning, has been making waves in the industry since its launch on May 9, 2024.
Founded by Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX is tackling the inefficiencies that plague the construction sector. By using AI to optimize material sourcing, project planning, and oversight, the startup is helping construction companies reduce delays and costs.
The construction industry is notorious for its inefficiencies, delays, and cost overruns. According to a report by McKinsey, the global construction industry is plagued by inefficiencies, with labor productivity increasing by only 1-2% per annum over the past decade. Delays, rework, and cost overruns are common, resulting in significant financial losses for construction companies.
ProcureX is addressing these issues by providing a comprehensive solution that integrates AI-driven material sourcing, project planning, and oversight. The startup’s platform uses machine learning algorithms to analyze data from various sources, including material suppliers, construction schedules, and weather forecasts. This data is used to predict potential delays and suggest alternative materials or construction methods to minimize disruptions.
One of the key features of ProcureX is its material sourcing module. The platform uses AI to analyze material prices, availability, and quality to suggest the best options for construction projects. This ensures that construction companies are getting the best materials at the best prices, reducing waste and minimizing the risk of delays.
ProcureX’s project planning module uses AI to optimize construction schedules, taking into account factors such as weather forecasts, labor availability, and material delivery times. The platform generates a detailed schedule for each project, ensuring that construction companies are always on track to meet their deadlines.
The startup’s oversight module is another critical component of its platform. ProcureX uses AI to monitor construction projects in real-time, identifying potential issues before they become major problems. The platform sends alerts to construction companies and suppliers, enabling them to take corrective action quickly and minimize delays.
Since its launch, ProcureX has onboarded 10 companies and 150 suppliers, with plans to expand across Dubai and Saudi Arabia. The startup is confident that its AI-powered platform will revolutionize the construction industry, reducing delays and costs while improving efficiency and productivity.
“We are thrilled to bring a new level of efficiency and transparency to the construction industry,” said Aravind Maroju, Co-Founder of ProcureX. “Our AI-powered platform is designed to help construction companies reduce delays and costs, while improving project outcomes. We believe that ProcureX has the potential to disrupt the construction industry and we are excited to see the impact it will have.”
ProcureX is not the only startup working to transform the construction industry. Other startups, such as BuildOps and ConstructConnect, are also using AI and machine learning to improve construction project management and material sourcing. However, ProcureX’s comprehensive platform, which integrates material sourcing, project planning, and oversight, sets it apart from the competition.
In conclusion, ProcureX is a Hyderabad-based startup that is using AI to cut construction delays and costs. The startup’s comprehensive platform, which integrates material sourcing, project planning, and oversight, is designed to help construction companies reduce inefficiencies and improve project outcomes. With its plans to expand across Dubai and Saudi Arabia, ProcureX is poised to make a significant impact in the construction industry.
