Q What does Artificial Intelligence (AI) mean to logistics industry?
AI to logistics industry simply means how can I run my business more efficiently, how do I provide a better customer experience, how do I shorten the transaction time and how do I predict my business with more confidence? Logistics industry encompasses many areas including packaging, transportation, warehousing and last mile distribution of goods. Each area is very complex involving humans, equipment, space and time. Added to this complexity, the entire logistics industry is very fragmented with each area being handled by different players. Lack of information and data flow in a standardized and structured manner is a challenge found in this industry.
Technology adoption and innovation in manufacturing industries and changing customer expectations due to technology penetration in their day to day lives has put lot of pressure on the logistics industry to deliver the goods in shorter time at lower cost, while ensuring commitments, security and transparency. Artificial Intelligence powered by computer vision, process refinement and task automation can help this industry to truly reinvent itself. Additionally, AI can help logistics industry to become agile, so that companies can adapt to fast changing disruptions in macro‐economic circumstances pertaining to global trade and shifts in supply chain.
Q What best practice examples of AI used in other industries can be applied to logistics?
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