Teleo, a company building autonomous technology for heavy construction equipment, announced it has made Fast Company’s prestigious list of the World’s Most Innovative Companies of 2024. Teleo has been ranked in the top 10 for the most innovative robotics companies. The company earned the honor based on introducing Supervised Autonomy, its proprietary blend of autonomy and long-range remote operations, for heavy construction equipment such as bulldozers, wheel loaders and more.
Teleo converts any make, model, and vintage of heavy equipment into autonomous and remote-operated robots. With Supervised Autonomy, Teleo allows human operators to oversee multiple machines simultaneously by remotely performing complex tasks that the autonomous technology cannot fully handle yet.
“The construction industry is currently experiencing a growing labor shortage, and we’re helping to address that by turning their equipment into semi-autonomous machines,” said Vinay Shet, co-founder and CEO, Teleo. “By developing a technology that moves the operator out of the cab of the machine and into a central command center, we are making these jobs safer, comfortable, and more accessible. Earning this recognition from Fast Company is confirmation that our innovative technology is truly capable of delivering on our mission to revolutionize how we build the world.”
According to Associated Builders and Contractors, the construction industry will need to attract an estimated 546,000 additional workers beyond typical hiring levels in 2023 to meet the demand for labor. Further, 41% of the construction workforce is expected to retire by 2031, according to the National Center for Construction Education & Research.
Teleo’s technology provides a host of social and economic benefits, including attracting more diverse heavy equipment operators by introducing the ability to work in a controlled, comfortable environment; increasing site productivity by enabling one operator to control multiple machines; and increasing job safety by conducting site work from a remote command center.
With this combination of benefits, heavy equipment operator jobs are made more attractive, accessible and inclusive, which can help to close the labor gap. At the same time, it provides companies new ways to realize previously unattainable levels of productivity, helping them to make greater contributions to the American economy.
“Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year,” said Fast Company editor-in-chief Brendan Vaughan. “We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future.”
Teleo’s top-10 ranking on Fast Company’s list of the World’s Most Innovative Companies of 2024 for robotics comes at a time of substantial growth for the company. In March, Teleo announced its expansion into the snow removal industry through a partnership with Storm Equipment. The companies collaborated to develop and introduce the only remote-operated and autonomous industrial snowplow commercially offered in the United States.
Teleo, www.teleo.ai