AI in Supply Chain and Logistics: Three Emerging Startups
Artificial intelligence reaches new adoption levels each year. As its adoption becomes more ubiquitous, industries like supply chain management and logistics have begun to leverage AI in innovative ways - taking the front row in the AI show-time.
A recent report by Research and Markets “Artificial Intelligence in Supply Chain Management Market” finds that AI in SCM solutions as a whole will reach $15.5B globally by 2026. The large volumes of data generated by these industry verticals, the number of devices employed and the challenges associated with the process require a more defined, elaborate structure to ensure transparency through digital automation.
Events such as the unexpected blocking of the world's busiest trade route Suez Canal by a large shipping vessel demonstrate how supply-chain optimization and diversification have become an essential need of the hour. From cost reduction through risk mitigation and reduced operational shutdowns, to improved supply chain forecasting and speedy deliveries through more optimized routes to improved customer service, AI in Supply Chain is increasingly becoming the preferred choice of numerous manufacturers worldwide.
AI-Enabled Startups in the global logistics industry
Here are three visionary startups that bring artificial intelligence to the global logistics industry. Each of these startups demonstrates a unique approach to Artificial Intelligence.
FourKites, a market leading solution provider for supply chain visibility, tracks and consolidates data across modes including ocean, rail, parcel, and over-the-road, with both truckload and LTL (less-than-truckload) into a unified platform built for global enterprise companies. The platform is optimized for mobile and equipped with market-leading end-to-end security. With the world’s largest network of shippers, carriers, and 3PLs, FourKites delivers unparalleled levels of insights - enabling customers to make better, more proactive supply chain decisions.
DigitalGlobe, a Maxar Technologies company that specializes in satellite imagery, facilitates real-time decision making by leveraging geospatial data derived from satellite imagery and supports a number of applications, offering insightful information at a large scale. DigitalGlobe offers high-resolution pictures of the earth's surface through the most comprehensive and extensive image library to the ride-hailing company giant Uber. These images provide rich input sources for the development of advanced mapping tools to ensure the accuracy of vehicle locations with precision and efficiency in pick up, navigation, and drop off between its drivers and riders. DigitalGlobe’s highest-resolution satellites can make sense of new road-surface signs, lane information, and street-scale changes to traffic patterns before a city incorporates these to its official vector map.
Aquifi focuses on the automation of repetitive visual tasks on the fields of logistics, manufacturing, and e-Commerce processes using AI trained and deployed with proprietary 3D color sensors. To ensure availability, low BOM cost, and efficient development efforts, Aquifi have architected their sensor hardware to use COTS technologies.
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