CHANTILLY, Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it has successfully integrated, streamlined, and scaled artificial intelligence (AI) and 360-degree imagery on multiple mega- and giga-projects across the Middle East.

Working with SEKTOR.build, the company is leveraging the OpenSpace.ai platform for this initiative, combining the latest in technology with advanced construction supervision technologies to improve efficiency throughout the project lifecycle. With more than 30 deployments throughout the Middle East, Parsons continues to lead in the implementation of AI technology in the region.

“Artificial intelligence is leading a transformative revolution in the engineering sector,” said Pierre Santoni, president, Europe, Middle East, and Africa, for Parsons. “What sets Parsons’ projects apart is our expertise in deploying the latest technologies, which has enabled a seamless integration of AI and ushered in an era of unprecedented efficiencies and capabilities.”

Parsons' integration of OpenSpace.ai with Building Information Modeling (BIM) provides a value-driven approach that empowers stakeholders with near real-time site imagery. This results in tangible benefits and enhancements such as improved project visibility amongst stakeholders, commercial advancements, quality improvements, stakeholder coordination, and accelerated reporting.

Parsons’ approach to automation frees up human resources to focus on critical project management activities, significantly reducing project timelines and mitigates risk. Additionally, this digital transformation drastically reduces the need for physical travel, lowering the project’s carbon footprint.

These OpenSpace.ai deployments amount to approximately 2.3 square meters or 24 million square feet – more than 400 American football fields of space. Parsons is continuing to evaluate and apply AI technologies across all projects, to usher in a new future for construction management.

To learn more about Parsons’ artificial intelligence capabilities, visit www.parsons.com/ai/.

About Parsons

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends, and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results, and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results, or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local, or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations, and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations, or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train, or retain employees with the requisite skills, experience, and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews, and investigations, which may result in materially adverse judgments, settlements, or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Media Contact:
Chelsie McKittrick
+1 512.719.6877
chelsie.mckittrick@parsons.com

Investor Relations Contact:
Dave Spille
+ 1.571.655.8264
Dave.Spille@parsons.com