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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Impact Of Covid-19 On Shipping And Logistics
Industry stalwarts discuss threadbare the prevailing logistics and supply chain scenario and issues in clearing cargo during the COVID-19 lockdown
Digital Platforms Defy Lockdown
Digital trading modules such as eNAM are enabling farmers to move their produce from farm to market even during the lockdown
GARMENT TRADE TRAMPLED
As retailers face a shutdown in US and Europe, the cascading affect has caused mass cancellation of orders in Bangladesh
TRADE RESUMES WITH CHINA
While India has allowed uninterrupted movement of imports into Nepal even during lockdown, China is reopening its borders as it emerges from the pandemic
LESS HUMAN INTENSIVE, MORE DATA DRIVEN
AI provides transformational opportunity for logistics industry by improving customer experience, operational efficiency, faster turnaround time and lower cost while ensuring security and transparency. Macro environment requires industry to transform to be less human intensive, agile and data driven, all of which can be accelerated by AI adoption, shares Gangadhar Gude, Founder & CEO, atai.ai
SHAKEN AND STIRRED
The COVID-19 pandemic has partially paralysed the logistics and supply chain, but the industry is still deterred to ensure supply of essentials continues
TRADE STUCK, ECONOMY SLOWS DOWN
Sri Lankan economy slows down as trade deficit widens and supply chain disrupts amidst lockdown
LENDING INTELLIGENCE TO SUPPLY CHAIN
If you’re shipping millions of dollars’ worth of pharmaceuticals, high-end electronics, expensive seafood, or precious metals, what would you be willing to pay for the ability to ‘ask’ your shipment where it is right now and whether it’s ok? What would you pay for a freight smart enough to raise an alarm before it spoils? Artificial Intelligence enables that and much more…
CONTAINER LINES SIGNAL ‘SOS'
As the per-unit cost of operations increases many lines are forced to blank sailings which has hit their bottom line real hard. The Government and Terminal Operators therefore need to actively consider reduction in Vessel Related Costs
IMO 2020 And The Covid-19 Curse
The COVID-19 outbreak has shaken and stirred the already volatile bunker market. While the refiners adjust their capacities and shipping lines choose their path to compliance, the market dynamics are yet to reach an equilibrium
