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Tritech builds AI-based data analytics platform to digitise business
WATER and environment firm Tritech Group has developed an artificial intelligence-based data analytics system (ADAS) for both its engineering and water-related and environmental businesses.
This is part of the group's digital transformation journey amid the pandemic. "Digital technology in the post-Covid-19 era will become the lifeline for most businesses irrespective of their size or industry sector," said Tritech in a statement on Tuesday.
ADAS is a 4D analysis software package which is able to digitalise the group's engineering and water-related and environmental businesses and minimise manpower requirements. It is expected to improve the group's profit margins for these businesses.
It was created via a consolidation of in-house technologies to further enhance efficiency and productivity, said the group. The platform also enables the group to extend the services of its group companies to customers beyond Singapore, it added.
Using big data analytics and cloud computing technologies, Tritech has also developed a tunnelling and excavation Web-based monitoring system, an advanced programming concept that aids project management, data collection, data analytics and project monitoring. The system has been deployed in various tunnelling projects related to the construction of the MRT.
Other initiatives include waterways and dam real-time monitoring systems, ground movement and soil stress simulation software, and big data analytics in the areas of water and environment monitoring.
Tritech said its experience with big data analytics has put it in a good position to further its digital efforts in the construction space.
From the financial years ended March 31, FY2014 to FY2020, the group's accumulated contract values for digital-related projects for engineering or water-related and environmental businesses grew from S$4.1 million to S$38.2 million.
Tritech shares last traded at 1.4 Singapore cents on Monday.