LONDON (ShareCast) - (Sharecast News) - Cordel Group announced the launch of 'PTC Asset Connect' on Monday, a new AI-powered system designed to automate the detection and mapping of trackside assets for rail operators, aiming to enhance compliance with Positive Train Control (PTC) requirements and streamline asset management processes.
The AIM-traded transportation technology specialist said the system leverages multimodal artificial intelligence to identify and locate railway infrastructure with high levels of automation and accuracy, eliminating the need for manual surveys and reducing both labour costs and the risk of human error.

"Every global rail company needs to understand where their key assets are and how the associated asset registers change over time; PTC Asset Connect provides the single source of truth for our customers' networks," said John Davis, CEO of Cordel.

"We are excited by the scale of the opportunity, as the global Positive Train Control Market was valued at $1.5bn in 2024, with the maintenance component, where data capture and processing sits, being 10 to 20% annually."

Cordel said the solution would allow operators to maintain a real-time asset database, supporting both safety compliance and operational efficiency.

"We are immensely proud of our world class software engineering team, who have delivered this major development on time and budget, with the unique and complex innovation of multimodal AI, an industry first," commented chair Ian Buddery.

"Our ability to respond to technical challenges and deliver large-scale data processing reliably and efficiently places us at the forefront of our industry."

The company said it was now rolling out demonstrations and technical specifications of the new system to major clients.

At 1141 BST, shares in Cordel Group were up 5.54% at 6.99p.

Reporting by Josh White for Sharecast.com.

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