Digitalization in the freight industry has been a slow but unavoidable process. A lot has changed since the old days of vintage shipping to how it’s being done nowadays. There are now fully automated port terminals, autonomous ships, freight benchmarking services, proposals of a floating warehouse, drones being used for cargo deliveries, and software developed to automate and optimize companies’ operations. This article discusses the digital technologies that revolutionize freight shipments.
AI and Big Data in Managing Freight Shipments
The capabilities of AI are seriously ramping up company efficiencies in the areas of predictive demand and network planning. Having a tool for accurate demand forecasting and capacity planning allows companies to be more proactive. By knowing what to expect, they can decrease the number of total vehicles needed for transport and direct them to the locations where the demand is expected, which leads to significantly lower operational costs. The tech is using data to its full potential to better anticipate events, avoid risks and create solutions. This allows organizations to then modify how resources are used for maximum benefit – and Artificial Intelligence can do these equations much faster and more accurate than ever before.