Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry has long been plagued by inefficiencies, with delays and cost overruns being common occurrences. However, a Hyderabad-based startup, ProcureX, is revolutionizing the way construction projects are managed using artificial intelligence (AI).
Founded by Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX was launched on May 9, 2024, with the mission to tackle the inefficiencies in the construction sector. The startup offers a one-stop solution for material sourcing, project oversight, and planning, making it a game-changer for the industry.
According to the startup’s founders, the construction sector is plagued by manual errors, lack of transparency, and inefficient communication, leading to delays and cost overruns. ProcureX aims to address these issues by leveraging AI to streamline the construction process.
The startup’s platform uses machine learning algorithms to analyze data from various sources, including project plans, material requirements, and supplier information. This data is then used to identify potential bottlenecks and inefficiencies, allowing project managers to take proactive measures to mitigate risks.
One of the key features of ProcureX is its material sourcing module, which uses AI to match material requirements with available suppliers. This ensures that the right materials are sourced at the right time, reducing delays and costs. The platform also provides real-time tracking and monitoring of material delivery, ensuring that projects stay on schedule.
Another significant advantage of ProcureX is its project oversight module, which uses AI to identify potential issues and provide recommendations for improvement. This module uses machine learning algorithms to analyze data from various sources, including project plans, material requirements, and supplier information, to identify potential bottlenecks and inefficiencies.
The platform also provides a robust communication framework, enabling project managers to collaborate with stakeholders in real-time. This ensures that everyone is on the same page, reducing miscommunication and errors.
Since its launch, ProcureX has gained significant traction, with 10 companies and 150 suppliers onboard. The startup plans to expand its operations across Dubai and Saudi Arabia, targeting the growing construction industries in these regions.
“We are thrilled to see the impact that ProcureX is having on the construction industry,” said Aravind Maroju, co-founder of ProcureX. “Our platform is designed to streamline the construction process, reducing delays and costs. We believe that our technology can make a significant difference in the industry, and we are excited to expand our operations across Dubai and Saudi Arabia.”
The construction industry is one of the largest and most complex industries in the world, with a global value of over $15 trillion. Despite its size and importance, the industry has struggled with inefficiencies, including delays and cost overruns.
ProcureX’s AI-powered platform is designed to address these inefficiencies, providing a one-stop solution for material sourcing, project oversight, and planning. The platform’s machine learning algorithms analyze data from various sources, identifying potential bottlenecks and inefficiencies, and providing recommendations for improvement.
The startup’s founders believe that their technology can make a significant difference in the construction industry, reducing delays and costs, and improving project outcomes. With its robust communication framework, ProcureX is also designed to improve collaboration between project stakeholders, ensuring that everyone is on the same page.
As ProcureX expands its operations across Dubai and Saudi Arabia, it is likely to make a significant impact on the construction industry in these regions. The startup’s AI-powered platform is well-positioned to tackle the challenges facing the industry, providing a more efficient and cost-effective way of managing construction projects.
In conclusion, ProcureX is a Hyderabad-based startup that is revolutionizing the construction industry using AI. The startup’s platform provides a one-stop solution for material sourcing, project oversight, and planning, reducing delays and costs. With its robust communication framework and machine learning algorithms, ProcureX is well-positioned to make a significant impact on the construction industry.
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