Technically, an extensive study was undertaken into the AutoSite100 prototype improvements, evaluating the current level of development of the AutoSite100 prototype and mapping out the next developmental activities to achieve full autonomy. Following successful initial prototype development, we have managed to initiate live site testing, with our solution demonstrating notable improvements in the safety and efficiency of crane systems. To ensure continued technical development, a comprehensive technical risk assessment was conducted, with robust mitigation strategies put in place to ensure successful development.
Commercially, a deep market analysis revealed an increasing demand for AI powered solutions for the construction industry. With the growing number of multi-tower crane construction sites, the market has demonstrated a growing need for technologies that will help improve the safety and efficiency of construction sites. Data from the market study has enabled the identification and engagement of key stakeholders in our value chain, together with analysing current competing solutions. Successful engagements have resulted in major crane manufacturers, rental companies and construction companies expressing formal interest in adopting AutoSite100 once it reaches the market. Financially, we have evaluating revenue projections for the anticipated wide uptake of our novel solution. Our market analysis has shown immense potential for sales of the AutoSite100 system.