Procore acquires construction AI company
10 May 2021
Construction management software company Procore Technologies has acquired INDUS.AI, makers of an artificial intelligence-powered analytics platform for the construction industry, for an undisclosed amount.
This move adds computer vision capabilities to the Procore platform, which the company says will help contractors realise greater efficiencies, safety, and profitability.
INDUS.AI’s AI engine learns from project management platforms, cameras, sensors, drawings, building information models and schedules. It creates observations, recommendations, and alerts that help project teams make data-driven decisions.
Solutions are used to track and review construction progress, ensure safety and compliance, gain real-time project visibility, view labour deployment, minimise equipment idle time, and resolve claim disputes.
Every day, INDUS.AI monitors over 100 million square feet of construction sites with its AI engine. It has been trained with millions of images and videos specific to construction and, according to the company, is able to identify more than 70 metadata labels per image. Procore plans to integrate INDUS.AI’s capabilities into the Procore platform.
Tooey Courtemanche, Procore founder and CEO, said, “Our customers depend on the Procore platform as their system of record. With our investments in analytics and AI, we’re becoming their system of intelligence and helping our customers unlock the value of their project data through powerful insights that enable better, data-driven decisions.”