ITI zooms on planning to launch AI, Big Data Analytics-driven pilot project in Uttar Pradesh
ITI is currently trading at Rs. 300.60, up by 10.95 points or 3.78% from its previous closing of Rs. 289.65 on the BSE.
The scrip opened at Rs. 290.00 and has touched a high and low of Rs. 304.10 and Rs. 290.00 respectively. So far 203873 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 592.85 on 07-Jan-2025 and a 52 week low of Rs. 210.20 on 25-Oct-2024.
Last one week high and low of the scrip stood at Rs. 304.10 and Rs. 285.10 respectively. The current market cap of the company is Rs. 28730.52 crore.
The promoters holding in the company stood at 90.02%, while Institutions and Non-Institutions held 7.94% and 2.04% respectively.
ITI is planning to launch an Artificial Intelligence (AI) and Big Data Analytics driven pilot project aimed at reducing road accidents and improving enforcement efficiency in Uttar Pradesh. This AI project is in partnership with mLogica, a technology firm.
ITI had recommended Uttar Pradesh Government to leverage artificial intelligence (AI) technologies in conjunction with its Complex Event Analytics platform to support a comprehensive root cause analysis of UPs Road accidents.
The Union Ministry of Road Transport and Highways (MoRTH) had given go ahead on this initiative, which will be implemented by ITI in partnership with mLogica. ITI along with mLogica team have been authorised to begin work immediately in coordination with Uttar Pradesh Government. The six week prototype phase will consolidate accident records, weather data, vehicle telematics, driver histories and roadway details to develop AI models capable of predicting accident black spots, identifying root causes and generating real time policy dashboards.
Following the successful trial, the AI system will be introduced across core transport functions including faceless licensing and permits, revenue collection, e challan operations, modernized enforcement and the Vahan Sarathi registries.
ITI is primarily engaged in the business of manufacture, sale and servicing of telecommunication equipments and rendering other associated / ancillary services.
