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AI Stock News: Artificial Intelligence Accelerating Growth & Efficiency Across Parsons (NYSE: $PSN)

 

CENTREVILLE, Va. - June 1, 2023 (Investorideas.com Newswire) Parsons Corporation (NYSE: PSN) has seamlessly integrated artificial intelligence (AI) across its operations, markets and solutions, and corporate functions to enhance efficiency, accuracy, decision-making, and accelerate customer solutions. This embedded AI approach empowers Parsons to deliver innovative business solutions by automating complex processes, analyzing critical data, and enabling predictive modeling for project management, technology and product development, workforce planning, business capture enhancement, and resource allocation; ensuring that the company is delivering AI-empowered solutions from the lab to the mission at scale.

"Artificial intelligence is not just a technology for Parsons; it's ingrained into every facet of our DNA, culture, and business solutions," said Ricardo Lorenzo, chief technology officer for Parsons. "From our global workforce to our technologies across the Federal and Critical Infrastructure businesses, AI is the force-multiplier behind our innovation, efficiency, and ability to deliver transformative solutions to our customers."

The company strategically uses AI across its Federal Solutions and Critical Infrastructure segments to revolutionize operational capabilities and drive impactful outcomes. AI is used throughout Federal Solutions to evaluate massive amounts of data, enable real-time decision-making, and enhance all-domain situational awareness, threat detection, and response effectiveness - with the goal of accelerating mission success for the warfighter.

Innovations in the company's national security business include a computer vision object detection framework that detects and classifies small Unmanned Air Systems (sUAS) in real-time; systems that autonomously create representative cyber infrastructures for a known adversary based on collected information; and autonomous electronic warfare (EW) planning tools that optimize the placement and configuration of EW devices based on the RF battlespace. Parsons also recently won a classified research and development contract to develop constellation task scheduling algorithms based on organically developed AI technology.

"We have embedded AI as a core pillar of our engineering approach: from concept development to operations and sustainment, we are consistently looking for opportunities to enhance capabilities and processes through AI augmentation," said Lorenzo. "Our AI-driven cybersecurity solutions provide proactive defense against cyber threats, even as they continue evolving from traditional cyber into radiofrequency-based attacks. This feat is accomplished through several organically developed tools, ranging from our Integrated Collection System (ICS™) product line, which uses AI to identify signals of interest in real-time, to cybersecurity software from our latest acquisition IPKeys Cyber Partners, which is integrating AI to ensure critical infrastructure facilities across the nation are protected from cyber threats."

In the company's Infrastructure segment, AI is deployed to improve project planning and execution, enabling predictive maintenance, advancing asset management, and facilitating the efficient allocation of resources for critical infrastructure projects. Parsons internally developed a tool to evaluate the urban form of existing and future developments, using machine learning (ML) to predict a project's walkability, the effect of proximity to public transit, land use mix, and land use density. The model is used in several of the company's large design infrastructure efforts around the world to improve sustainability, safety, and economic access.

Parsons' critical infrastructure business has deployed over 40 intelligent transportation projects utilizing AI technology to improve the safety, mobility, and efficiency of the world's transportation networks. Key projects include the deployment of predictive analysis to enhance pedestrian safety and reduce vehicle collisions as well as ML models for decision support and traffic flow optimization.

The company also recently deployed an internal ML model that predicts the likelihood of winning contract bids, ensuring the most prudent use of company resources and investments, as well as artificial intelligence systems for forecasting and modeling to advance internal efficiencies.

To learn more about Parsons' innovative capabilities and solutions, please visit parsons.com.

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:
Bryce McDevitt
+1 703.851.4425
Bryce.McDevitt@parsons.com

Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@Parsons.com

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