This article about the best artificial intelligence logistics startups is part of the "Logistics of the Future" series looking at the top logistics startups today. We are officially living in the age of Artificial Intelligence. It's everywhere we look, from AI-powered personal assistants to predictive analytics to making medical diagnoses, Artificial Intelligence is making incredible advances across all industries. In fact, a recent report on the state of Artificial Intelligence for enterprises found that supply chain and operations are some of the top areas where businesses are driving revenue from AI investment. Why is AI making such a big difference in the logistics and supply chain, particularly?
You receive a notification on your phone that a critical shipment from your China factory has missed its filing deadline with the customs broker. Your logistics manager is alerted that there is an 80% chance that the components he's waiting for are likely to be delayed another 48 hours by excessive port traffic and your GTM software advises diverting the shipment to an alternate port facility. Your compliance officer is informed that there is a 95% chance that a shipment of parts from Malaysia is likely to be held for up to three days to be subjected to a detailed customs inspection. If you think this type of information would be of great assistance to your supply chain business planning and operations, you are not alone. It is this type of integrated data and communications that are becoming the backbone of the Big Data led revolution underway in supply chain.
Modern disruptive technologies like Machine Learning (ML) and Artificial Intelligence (AI) make their presence known in today's competitive markets. Organizations continuously attempt to improve profit margins, cut down on expenses, and provide a superior customer experience. It is evident that Artificial Intelligence and Machine Learning have become buzzwords in various industries, but what is their role, and what do they mean when it comes to Supply Chain Management? Using machine learning in logistics and supply chain management may aid in the automation of various routine processes, allowing businesses to concentrate on more strategic and significant business operations. Artificial intelligence and machine learning applications can be seen in every element of the supply chain process, including production, inventory management, procurement, warehousing, shipping, and customer support.
Efficiency and cost-effectiveness are the biggest challenges facing supply chain management today. Businesses are continually striving to reduce costs, enhance profit margins, and provide exceptional customer service. In such a competitive market, disruptive technologies like Machine Learning (ML) and Artificial Intelligence (AI) have opened up exciting opportunities for companies. Are you grabbing these opportunities? Artificial Intelligence and Machine Learning have recently become buzzwords across different verticals, but what do they mean for modern supply chain management?
Artificial intelligence is one of the most promising technologies available to businesses today. A McKinsey study of more than 2,000 participants found that 58% of respondents use AI in at least one process. This impressive adoption rate isn't baseless, either, as AI can improve areas like supply chain management in several ways. Logistics is a fast-moving and essential industry, one that many other sectors rely on to function. As such, it stands to benefit from thorough and timely data analytics.