Mytek launches AI-based platform to help contractors deliver infra projects on time

Bengaluru, 1 May: Infratech firm Mytek Innovations has launched a digital platform that uses open artificial intelligence (AI) tools to help contractors deliver infrastructure projects on time.

This AI-enabled platform can analyse the input cost required to complete a project and auto-generate a detailed, milestone-wise plan to complete the project on time. Such automation will reduce completion cost by 10-12 per cent of the project.

According to the company, contractors and subcontractors can use this platform to plan rapidly and begin work without delays. Moreover, once registered on Mytek’s contactor app, contractors can apply for working capital funding to execute their projects.

“Today, delays and budget overruns are commonplace in infrastructure projects. Mytek’s platform will be a powerful tool for contractors and subcontractors all around the country that helps contractors save costs and deliver projects on time. We are using the latest technologies to not only revolutionize project planning but also democratize it,” said Shivkumar Borade, Founder and Chief Managing Director of Mytek Innovations.

During execution, contractors can easily compare the sales cost and the actual cost incurred for each activity as well as for the overall project. This will help track expenses in real-time and improve resource utilization, the company said in a release.

The company also said that its platform is free of cost and requires minimal knowledge of project planning tools. It empowers contractors and subcontractors to create a project plan free of cost, with little to no previous knowledge of project planning, thus promoting entrepreneurship. Its user-friendly interface makes it easy for contractors, especially in semi-urban and rural areas, to use the tool, the company added.