Infibeam Avenues shares gain 5% on securing orders for AI technology

In a filing to the stock exchange, the company said that Phronetic.AI, the Artificial Intelligence arm of Infibeam Avenues, has secured two major contracts to implement its Theia Vision AI technology.

The two orders have been received from a leading chain of hospitals and a gas station chain.

The Infibeam Avenues informed the bourses that the first contract involves integrating Phronetic.AI’s Theia Vision AI product, AI Facility Manager, across five major hospitals in India. This technology will be utilised in different facilities within these hospitals to revolutionise patient care, streamline operations, and enhance safety protocols.

By leveraging advanced visual data analysis, Theia Vision AI will improve diagnostics, enable real-time monitoring of patient conditions, and optimise resource allocation, setting new standards for healthcare innovation, the company said.

The second order has been received form a United Arba Emirates-based international gas station chain. The deployment of Theia Vision AI’s ‘AI Facility Manager’ across the chain's gas stations will focus on enhancing security, improving customer service, and optimizing operational workflows.

The technology capabilities, including real-time threat detection, automated transaction monitoring, and customer behaviour analysis are set to transform the operation of these retail outlets.

The combined value of these contracts is expected to reach $1 million per annum (approximately ₹8.4 crore), with each contract spanning five years and the option to extend further.

This development underscores Phronetic.AI's role in sectors where precision, safety and efficiency are critical, positioning the company as a leader in AI-driven innovation, the company said.

Earlier this month, on August 2, Infibeam Avenues bought a 54.1% share in Rediff.com. The company aims to use the Rediff MONEY platform to cross-sell a variety of financial products such as loans, insurance and investment instruments. This strategic move is part of Infibeam's aim to broaden its portfolio and leverage Rediff's large user base.

Shares of the Infibeam Avenues were trading 1.43% higher at ₹31.27 apiece on the NSE at 2:25 pm.