Parsons Unveils Updated iNET®, an AI-Enabled, SaaS Smart Mobility Solution

Rhea-AI Summary

Parsons (NYSE: PSN) has launched an updated version of iNET®, its intelligent transportation software. Built on Microsoft Azure, the enhanced iNET® integrates AI and machine learning to offer advanced monitoring, improved user experience, and optimized transportation system performance. Key features include:

1. iNET® Sidekick: An AI-based virtual traffic operator using Azure OpenAI Service technology.
2. Enhanced cybersecurity measures.
3. Configurable SaaS or enterprise platform.
4. Reduced operational costs and greenhouse gas emissions.
5. Scalable solution for various users, including cities, airports, and sporting venues.

The update is particularly relevant for upcoming major events like the World Cup and Olympics in North America.

Positive

• Launch of updated iNET® software with advanced AI and ML capabilities
• Integration with Microsoft Azure platform enhancing cybersecurity and scalability
• Introduction of iNET® Sidekick, an AI-based virtual traffic operator
• Potential for reduced operational costs and greenhouse gas emissions
• Expanded market reach to various sectors including cities, airports, and sporting venues

Negative

• None.

CHANTILLY, Va., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced the launch of the newest iteration of iNET^®, the company’s industry-leading intelligent transportation software. Built on the Microsoft Azure platform, the enhanced iNET^® revolutionizes transportation network management, efficiency, effectiveness, and safety. By integrating artificial intelligence (AI) and machine learning (ML), it offers advanced monitoring and decision support, an improved user experience, and optimized transportation system performance that helps reduce greenhouse gas emissions. Additionally, it provides unmatched cyber security, all in a configurable software-as-a-service (SaaS) or enterprise platform.

“We are pleased to bring forward the newest version of iNET^®, a modernized solution that optimizes transportation operations while reducing operational cost,” said Ricardo Lorenzo, chief technology officer, Parsons. “Utilizing tools from Microsoft allowed us to enhance the AI features iNET^® offers, bringing a smart, secure, cloud-based, and scalable solution to our customers around the world.”

This update introduces iNET^® Sidekick, an AI-based virtual traffic operator that utilizes Azure OpenAI Service technology, allowing human operators to gain instantaneous insights into the system data and corrective actions, using a conversational interface. Sidekick indexes iNET^® real-time and historical data alongside thousands of pages of agency policy manuals, in order to provide clear and concise guidance to operators in natural language, thus increasing the efficiency, consistency and overall safety of traffic operations. This technology is especially timely with major sporting events like the World Cup and Olympics, which can benefit from the traffic management capabilities, being hosted in North America in the coming years.

"The updated iNET^® platform advances Parsons’ and Microsoft’s shared goals of helping public sector organizations accelerate their digital transformation journey,” said Didier Ongena, Government Lead for Worldwide Public Sector, Microsoft. “Built on Microsoft Azure OpenAI Service, iNET^® brings enhanced AI and machine learning capabilities to cities, counties, states, and municipalities looking to improve transportation operations, provide better citizen services, and enhance internal efficiency.”

iNET^®, Parsons’ award-winning advanced traffic management solution (ATMS), is designed to meet the needs of clients, no matter the size of their operations. This modular system is highly configurable, serving the needs of traditional ATMS users like cities, counties, and states, as well as newer users, like airports, seaports, spaceports, and sporting event venues.

To learn more or request a demo of Parsons’ smart mobility solution, iNET^®, visit parsons.com/products/inet/.

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.

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

Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.us

FAQ

What is the latest update to Parsons' iNET® software?

Parsons has launched an updated version of iNET®, its intelligent transportation software, built on the Microsoft Azure platform. It integrates AI and machine learning to offer advanced monitoring, improved user experience, and optimized transportation system performance.

How does the new iNET® Sidekick feature benefit traffic operators?

iNET® Sidekick is an AI-based virtual traffic operator that uses Azure OpenAI Service technology. It provides operators with instant insights into system data and corrective actions through a conversational interface, increasing efficiency, consistency, and safety of traffic operations.

What types of organizations can benefit from Parsons' updated iNET® platform?

The updated iNET® platform is designed for various users, including traditional ATMS users like cities, counties, and states, as well as newer users such as airports, seaports, spaceports, and sporting event venues.

How does the updated iNET® software contribute to environmental sustainability?

The enhanced iNET® software helps optimize transportation system performance, which can contribute to reducing greenhouse gas emissions through improved traffic management and efficiency.