STC Insiso takes full control of AI safety tool
Performance improvement specialist STC INSISO, has taken full ownership of an artificial intelligence product that monitors health and safety performance and acts as an early warning system to potential hazards.
COMET Signals was co-developed by STC INSISO and Lloyds Register, the adviser to the marine and offshore industry.
Aberdeen-based STC INSISO is now sole owner of the product following the acquisition and COMET Signals is currently in commercial pilots with a number of global companies including Coca Cola, Network Rail and McDermott.
The COMET Signals technology is used across organisations to enable them to manage and analyse all their leading and lagging indicator data using one comprehensive platform to ensure they are maintaining the highest HSE standards.
Mark Rushton, CEO at STC INSISO, said “This is a truly exciting development in our business. Having full ownership and control of the COMET Signals product allows us to surge forward with our ambitious plans to further develop the tool.
“We will continue to diversify, growing early progress in the Rail, Construction, Marine and Retail industries with a further push into the Oil & Gas, Renewables, and Utility sectors.
“We have a fantastic, long-standing relationship with Lloyds Register which we are immensely proud of.
“This latest development is absolutely not the end of this but quite the opposite. It is about new ways of working to ensure both businesses are creating most value add to the industries we support.”
Terms of the deal were not disclosed.