Abstract: Disclosed herein is an AI based system and method for generating warning alerts for a location to be excavated. The method comprises obtaining, from at least one external source, at least one underground asset map of the location to be excavated. For each of the at least one underground asset map, the method comprises locating a region of interest within the underground asset map corresponding to an identified underground utility service provider and extracting at least one feature within the region of interest. The at least one extracted feature is then compared with a plurality of features stored in a repository corresponding to the identified underground utility service provider, to determine a match. In response to the determination, the extracted feature is identified as a risk feature corresponding to the identified underground utility service provider and one or more warning alerts indicative of risk assets are generated.