Engineers India Ltd and Detect Technologies Pvt Ltd signed a Memorandum of Understanding (MoU) for Artificial Intelligence (AI) based monitoring, to ensure safe practices at construction sites and monitor project progress in India and abroad, the company said in an exchange filing on April 13.
The MoU was formalised in the presence of Vartika Shukla, Chairman and Managing Director of Engineers India, along with Varun Kumar, Chief Business Officer, and R Ramachandran, Director, from Detect Technologies. The signing ceremony, held on April 12, also saw the participation of Rajeev Gupta, Director (Projects) of Engineers India, and Tarun Kumar Mishra, Chief Strategy Officer, Detect Technologies.
Under this agreement, Engineers India and Detect Technologies will synergise efforts to deploy real-time AI-based monitoring solutions for enhancing safety practices and monitoring project progress across various construction projects undertaken by Engineers India.
This partnership aims to implement and maintain AI-based solutions employing cameras, drones, and cloud computing infrastructure to uphold a safe working environment, thereby minimising accidents and injuries, while concurrently overseeing project advancement.
“This MoU underscores EIL’s commitment to ensuring the utmost safety standards across projects. By leveraging cutting-edge digital technologies, we aim to enhance safety, mitigate risks, and drive sustainable development in our operations,” Vartika Shukla, CMD , Engineers India stated.
On April 12, shares of Engineers India closed 2 percent lower at Rs 219. The stock has gained over 56 percent in the past six months.
Source: moneycontrol.com
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