AI in Logistics 🚒: Smart Delivery Routes 📦 Intelligent Driver Care 🦺 Ships in 1 Hour 🛸

EDITOR’S NOTE

Dear Reader, it’s story time! Let’s look at the brief history of AI in supply chain. Read More

1956: Birth of AI

1970s: First AI Funding Winter

1980s: Rise of Expert Systems form of AI; think XCON

1990s: Second AI Funding Winter

2010s: Globally, many companies developed intelligent logistics platforms

2022: Introduction of ChatGPT; fastest adoption of technology in history

With this backdrop, today, we will explore the impact of AI on the logistics tech sector.

In Today’s Newsletter:

• Blubirch Bags $6.4 Mn to Revolutionize Reverse Supply Chain Management

• Returns, Rebooted: Continuum Raises $1.7M to Streamline B2B Returns

• AI Express: Fast-Tracking the Future of Global Logistics!

• Latest AI Job Opportunities in India

• Latest AI News from Around the World

TOP NEWS
Blubirch Bags Bucks to Boost Reverse Logistics!

Blubirch, an Indian Logistics start-up, has secured $6.4 million in Series A funding to enhance its AI and ML-driven reverse supply chain platform, aiming to expand its market presence and accelerate growth.

Why is it relevant?
With online shopping booming, returns are a major hassle for businesses. Blubirch's AI/ML technology addresses this pain point, promising efficiency and waste reduction in the return process. This makes them highly relevant in a world moving towards sustainability and e-commerce reliance. Read More

TOP NEWS
Return to Sender: Continuum Gets Funded to Fix B2B

Continuum secures $1.7 million in pre-seed funding to enhance its AI-powered platform for streamlining B2B returns, warranties, and repairs management.

Why is it relevant?
B2B returns are notoriously complex and messy. Continuum's technology aims to simplify this process, making businesses more efficient and customers happier in an increasingly digital world. Read More

NANOBITS RESEARCH
AI Takes the Wheel: Logistics Gets Smart

The global market for AI solutions within logistics and supply chains is experiencing explosive growth. Valued at $3 billion in 2022, it's projected to reach $64 billion by 2030¹. Even the sub-segment of generative AI within this sector is expected to surge from $491 million in 2022 to $18 billion by 2032².

According to a different source, the Indian logistics market is poised to grow at 8.8% annually to $484.43 billion by 2029³. This growth banks heavily on the logistics tech sector which secured over $1.45 billion in private equity and venture capital investments in 2021⁴.

In this segment, we will explore the workings of the global logistics tech ecosystem and how AI is shaping it:

AI applications include real-time route optimization, predictive maintenance, labor and fuel management, warehouse automation, efficient returns processing, and improved inventory visibility across multiple channels, all powered by data from IoT devices and supported by scalable cloud computing.

Top Global logistics tech companies pioneering the AI revolution:

1. ShipEase, a SaaS-enabled logistics platform, leverages AI, ML, and big data analytics to optimize shipping routes, enhance efficiency, and reduce costs. It empowers SMEs with enterprise-level shipping experiences.

2. Delhivery has developed an innovative AI-driven solution to optimize delivery routes, ensuring efficient and timely delivery.

3. DHL has implemented a cutting-edge AI-powered system, "Cubicycle", to streamline route planning in urban areas, resulting in improved logistics management.

4. The Bangalore-based company Minus Zero has unveiled its 'zPod', a self-driving vehicle with the potential to transform the logistics sector. Its ability to navigate without human input across various terrains presents unique opportunities for autonomous deliveries and transportation.

5. Amazon's Prime drone, the MK30, is designed to operate effectively in challenging weather conditions and can deliver to customers within an hour.

6. Gatik AI optimizes B2B logistics through autonomous transportation services, focusing on the "middle mile" by moving goods between distribution centers and retail locations using autonomous trucks, reducing costs and improving supply chain operations.

7. Mahindra Logistics has implemented AI computer vision to streamline package counting and inspection across its warehouses, leading to a significant increase in accuracy.

8. CVISION develops AI-powered safety solutions for safer driving, combining ADAS and DMS features to prevent accidents, detect driver fatigue, and provide predictive insights.

9. Shipsy's platform uses AI to enhance real-time tracking of bulk shipments, automate alerts for delays and extra charges, reduce manual work, and boost operational efficiency and customer satisfaction.

10. LogiNext deploys AI in logistics by leveraging automation, AI, and ML to optimize routes, auto-allocate orders, and predict ETAs, utilizing data science to calculate variables like traffic, weather, and driver locations.

Despite its promise, AI in logistics faces challenges. Poor data quality and potential biases can hinder its effectiveness. Additionally, the lack of transparency in AI decision-making processes can make it difficult to trust. Costs associated with implementation and the need for specialized workforce skills pose further hurdles to widespread adoption.

Apart from working on solving the challenges mentioned above, collaboration across industry stakeholders to share best practices and develop standardized AI applications will also be crucial to the success of AI integration in this sector.

AI JOB OPPORTUNITIES

• Microsoft - Data Scientist-II

• Honeywell - Advanced Data Engineer

• Bain - Expert Manager, ML Engineer, APAC

• IBM - AI advocate Lead

• IQ-EQ - Senior Product Manager - AI Solutions

• GLBITM - Assistant Prof, AIML

• Management Consulting, US - Data Science Associate

Click here to browse more AI jobs in India

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