Mytek Innovations launches AI-powered platform for contractors deliver infra projects on time

Infratech startup Mytek Innovations has recently launched an innovative digital platform designed to support contractors in delivering infrastructure projects on time.

The platform will leverage open artificial intelligence (AI) tools to transform project management by providing detailed, cost-effective, and timely planning solutions.

Platform capabilities and features

The newly introduced platform by Mytek is capable of analyzing input costs and automatically generating detailed, milestone-wise plans that aim to reduce project completion costs by 10-12%.

This AI-enabled tool enables contractors and subcontractors to swiftly plan and commence work, minimizing delays. It also allows registered users on Mytek’s contractor app to apply for project funding, further facilitating ease of operations.

Strategic impact on the construction industry

Shivkumar Borade, the founder and chief managing director of Mytek Innovations, expressed his enthusiasm about the platform's potential to address common industry challenges: “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.”

The statement highlights the platform's role in mitigating the frequent issues of delays and budget overruns in construction projects.

Operational benefits and vision

During project execution, the platform facilitates real-time cost tracking and resource utilization, enhancing operational efficiency.

The platform's ability to generate customizable project plans instantly—and adjust them as necessary—provides significant advantages over traditional project planning tools, which typically require up to seven days to develop a plan.

Borade further shared his vision for the company, emphasizing the role of advanced technologies in reshaping the construction industry: “We envision a future where advanced technology, such as artificial intelligence, drives efficiency, sustainability, and innovation in every aspect of the industry. By providing cutting-edge solutions tailored to the needs of contractors, architects, and the infrastructure sector, we aim to empower professionals to overcome challenges, maximize productivity, and achieve unparalleled success. Our vision is to be at the forefront of this transformation, leading the way to a brighter, more efficient future for the construction industry.”

Conclusion and company outlook

Founded in 2020 and based in Navi Mumbai, Mytek Innovations has quickly gained recognition from the Ministry of Commerce and Industry of the Government of India.

The startup is set on bridging the gaps in the fragmented construction industry, which is valued at over USD 700 billion, by organizing critical project aspects like workforce, machinery, tools, materials, and technology.

As the industry navigates challenges such as compliance delays and substandard work quality, Mytek's platform offers a strategic advantage, ensuring projects are delivered on time and within budget.