Artificial Intelligence Will be Big in Supply Chain Management, Report Predicts

Artificial intelligence will be worth about $17.5 billion in the global supply chain management (SCM) software market by 2028, according to a new market report, "Global Artificial Intelligence in Supply Chain Management Market by Technology, Processes, Solutions, Management Function (Automation, Planning & Logistics, Inventory, Risk), Deployment Model, Business Type, and Industry Verticals 2023-2028." The authors said that market analysis shows AI-enabled supply chains are 67% more effective than their non-AI counterparts, thanks to reduced risks and lower overall costs. The study, released by ResearchAndMarkets.com April 10, noted that the Asia-Pacific (APAC) region is expected to be the largest and fastest-growing supplier of artificial intelligence for the global SCM market. The report also examined several forms of AI, including cloud-based AI-as-a-service solutions, which it predicted will be worth more than $3.7 billion by 2028, reaching more than 21% of the total market in the next five years.