Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry has always been plagued by delays and inefficiencies, resulting in significant cost overruns and frustration for all stakeholders involved. However, a Hyderabad-based startup, ProcureX, is changing the game by leveraging artificial intelligence (AI) to streamline the construction process, reduce costs, and maximize efficiency.
Launched on May 9, 2024, by co-founders Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX offers a comprehensive solution for material sourcing, project oversight, and planning. By harnessing the power of AI, the startup is able to identify and mitigate potential delays, ensuring that construction projects are completed on time and within budget.
According to the co-founders, the idea behind ProcureX was born out of their own experiences in the construction industry. “We’ve all been there – stuck in meetings, dealing with last-minute changes, and trying to make sense of complex project timelines,” said Aravind Maroju, CEO of ProcureX. “We realized that there had to be a better way to manage construction projects, and that’s when we decided to use AI to disrupt the status quo.”
So, how does ProcureX work? The startup uses AI-powered algorithms to analyze project data, identify potential bottlenecks, and provide real-time insights to project managers. This allows them to proactively address issues before they become major problems, reducing the risk of delays and cost overruns.
One of the key features of ProcureX is its material sourcing module. This module uses AI to analyze market trends, predict material prices, and identify the best suppliers for each project. This not only helps to reduce costs but also ensures that projects are delivered with high-quality materials.
ProcureX has already made significant inroads in the construction industry, with 10 companies and 150 suppliers onboard. The startup plans to expand its operations to Dubai and Saudi Arabia in the near future.
The impact of ProcureX has been nothing short of remarkable. According to the startup’s data, projects managed by ProcureX have seen a reduction of up to 30% in construction delays and a decrease of up to 20% in costs. This is a significant achievement, especially considering the complexities and uncertainties inherent in the construction industry.
So, what sets ProcureX apart from other construction management software? For starters, the startup’s AI-powered algorithms are specifically designed to analyze the unique nuances of the construction industry. This allows ProcureX to provide insights that are tailored to the needs of construction project managers.
Another key differentiator is ProcureX’s user-friendly interface. The startup’s platform is designed to be easy to use, even for those without extensive technical expertise. This makes it accessible to a wide range of construction professionals, from project managers to site supervisors.
ProcureX is also committed to continuous innovation, with a team of data scientists and engineers working tirelessly to develop new features and improve the platform’s performance. This ensures that the startup stays ahead of the curve, providing construction professionals with the cutting-edge tools they need to succeed.
In conclusion, ProcureX is a game-changer in the construction industry. By leveraging AI to streamline the construction process, the startup is able to reduce delays, cut costs, and maximize efficiency. With its user-friendly interface, tailored insights, and commitment to innovation, ProcureX is poised to revolutionize the way construction projects are managed.
