Every aspect of our lives is being transformed by technological advances in artificial intelligence and machine learning. From completing our sentences to automated suggestions to packages delivered by drone, artificial intelligence (AI) has demonstrated its extreme innovative potential to maximize efficiency and is deeply entrenched in our society.
The advent of modern technologies has also changed the chaotic and fragmented logistics market. Artificial intelligence has brought innovations such as autonomous vehicles, automated warehouses, predictive analytics, and smart roads. AI technology offers the opportunity to automate and simplify many processes, helping companies save time and money.
Speaking exclusively to BW, Arham Partap Jain, Trucknetic Founder and Chief Trucking Officer said, “These advanced technologies play a critical role in saving time, reducing costs, increasing productivity and increasing accuracy through cognitive automation. AI also helps in automating various time-consuming processes and helps in demand forecasting. It helps create a platform and interface that helps optimize logistics routes, which helps reduce shipping costs, which further helps generate more profits.”
Jain also explained how these technologies can further help logistics players to completely transform warehouse operations in the form of information gathering and analysis or inventory processing.
Some of the AI innovations for the logistics sector are as follows:-
Self-Driving Vehicles
Artificial intelligence is profitable for the logistics and transport sector. Self-driving vehicles bring changes to the supply chain and help reduce logistics expenses. Of course, most of us are familiar with driverless cars, but AI makes it possible to automate more vehicles. For example, means of transport such as trucks, lorries or buses can also be automated to transport goods. Such autonomous vehicles can work alone or cooperate with a person.
Driverless technology can bring many benefits to logistics. For example, the use of autonomous vehicles gives people the opportunity to reduce fuel consumption, optimize routes and avoid human error.
Automated warehouse
Intelligent automation and robotics are among the most valuable capabilities artificial intelligence (AI) brings to the transportation sector. Artificial intelligence systems free warehouse workers from repetitive and potentially dangerous tasks by automating the process and providing greater speed and precision.
Smart warehouses with artificial intelligence (AI) automation are more productive and can operate 24/7, which would be very expensive and hardly possible in the case of only human labor.
traffic regulation
Another logistics problem that people face every day is traffic congestion. Artificial intelligence (AI) should now also solve this problem. Sensors and cameras placed in most regions collect numerous traffic details. This data is then sent to the cloud, where analysis and traffic pattern detection is performed using big data analytics and an AI-powered system. Valuable insights such as traffic forecasts can be gained from data processing. Drivers can be provided with important details such as traffic forecasts, accidents or road closures. Also, commuters can be notified of the shortest route to their destination, helping them travel without traffic hassles. In this way, AI can be used not only to reduce unwanted traffic, but also to improve traffic safety, reduce waiting times and contribute to smooth logistics services.
Better customer experience
As in any industry where customer satisfaction is paramount, the logistics industry is no exception. Elements of customer service in logistics industry include order fulfillment, fast delivery, quality products, etc. Artificial Intelligence (AI) helps improve customer service with smart chatbots and personalization. Chatbots are available 24 hours a day, 7 days a week, which means customers don’t have to conform to the company’s usual business hours and can send their requests whenever they want.
With the help of these modern technologies, customers can quickly get help with delivery requests or information on the shipping status of their packages. Accelerating responses and support to customer requests is the best way artificial intelligence is helping the logistics industry to improve their service.
back office operations
Back office operations are vital to the logistics and transportation sector. These new technologies enable employees to accelerate their work processes. It also helps employees improve their performance by increasing productivity and accuracy. Automating back office operations helps supply chain companies save time and money. With the implementation of AI, some categories of employees, such as accountants and HR professionals, can be replaced. Accordingly, there will be less chance of human error.
These new modern technologies are helping to move truckloads of data that the transportation industry has been collecting for years. Long ago, truck, rail and sea freight were tracked by satellite using telematics. The sudden and rapid growth of digitization and transformation is driving more and more companies to incorporate artificial intelligence (AI) and machine learning (ML) into their supply chain to maximize their resources by reducing the time and money spent tracking the goods to ship of a package reduce from one place to another place.
Efficient planning and resource management
Efficient planning and resource management are important for the growth of any business and not just the transport sector. Artificial intelligence plays a crucial role in efficient planning and resource management, helping industry to reduce costs and optimize the movement of goods, which also improves the supply chain of the logistics and transport sector in real time.
Route optimization in real time
Artificial intelligence plays an important role in real-time route optimization, which increases the efficiency of delivery, thereby helping to reduce wastage of resources. Many logistics and transport companies are already using a self-driving delivery system that allows items to be delivered much faster, and that too without human labor. These modern technologies have always been helpful in cargo management by contributing to efficient logistics management by reducing shipping costs and improving the delivery process.
“Today, artificial intelligence (AI) is helping logistics players provide opportunities for different levels of optimization in manufacturing, logistics, warehousing and last-mile delivery, with high setup costs preventing early adoption in logistics. It also helps consumers get their goods delivered where and when they need them with flexible courier services,” adds Jain.
AI helps create a platform and interface that makes management easier than ever and helps a business grow better. As these technologies (AI, ML) become more popular in logistics, more and more companies in the industry will implement the technology in their daily operations. In fact, the market size for AI in logistics and supply chain is expected to reach $12 billion by 2027.
