Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry is notorious for its inefficiencies, with delays, cost overruns, and quality issues being common problems. However, a Hyderabad-based startup, ProcureX, is tackling these challenges head-on by leveraging Artificial Intelligence (AI) technology.
Co-founded by Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX is a one-stop solution for material sourcing, project oversight, and planning. Since its launch on May 9, 2024, the startup has onboarded 10 companies and 150 suppliers, and it’s set to expand its operations to Dubai and Saudi Arabia in the near future.
The construction industry is ripe for disruption, with traditional methods often resulting in delays, cost overruns, and poor quality. Inefficiencies in material sourcing, project planning, and oversight are common, leading to frustration for clients, contractors, and suppliers alike.
ProcureX’s AI-powered platform aims to address these issues by providing a comprehensive solution for the construction industry. The platform uses machine learning algorithms to analyze data from various sources, including construction projects, materials, and suppliers, to identify areas of inefficiency and provide actionable insights.
One of the key features of ProcureX’s platform is its ability to automate material sourcing and procurement. The platform uses AI to analyze material requirements, identify the best suppliers, and negotiate prices, reducing the time and effort required for manual procurement. This not only saves time but also helps reduce costs, as the platform can identify the most competitive prices and ensure that materials are sourced from reliable suppliers.
Another critical aspect of ProcureX’s platform is its project oversight and planning capabilities. The platform uses AI to analyze project data, identify potential risks and delays, and provide real-time updates to stakeholders. This enables contractors and clients to stay informed and make data-driven decisions, reducing the risk of delays and cost overruns.
ProcureX’s platform also includes a module for quality control, which uses AI to analyze construction site data and identify potential quality issues. The platform provides real-time alerts to contractors and clients, enabling them to take prompt action to address any quality concerns.
The startup’s innovative approach has already gained traction in the industry, with 10 companies and 150 suppliers onboarded to date. ProcureX is planning to expand its operations to Dubai and Saudi Arabia, where it sees significant potential for growth.
“We’re thrilled to be disrupting the construction industry with our AI-powered platform,” said Aravind Maroju, co-founder of ProcureX. “Our goal is to provide a seamless experience for contractors, clients, and suppliers, reducing inefficiencies and improving the overall quality of construction projects.”
By leveraging AI technology, ProcureX is poised to revolutionize the construction industry, providing a more efficient, cost-effective, and quality-focused solution for clients and contractors alike.
