Although artificial intelligence has only become prominent over the last few years, it has since made sweeping changes to the shipping industry’s supply chain. Analysts now say that AI will have a more significant impact on the supply chain moving forward than any other application of the technology. Some estimate that the economic value for firms will increase by approximately $1.5 trillion annually once AI is implemented fully into the supply chain.
AI Can Help Streamline The Shipping Process
Companies within the shipping industry can use artificial intelligence to better track the movement of their packages. The shipping industry has long lagged behind other sectors when it comes to technology, often resulting in frustrating delays or missing packages.
If companies did not take measures to protect goods that were sensitive to temperature excursions, such as using a SureTemp Pallet Cover, then they would likely be written off as a loss once they did arrive at their location.
AI is being used to better track shipments and come up with more precise routes so that the shipping process is as efficient as possible. UPS has already said that they save $50 million each year for every mile that a driver can cut from their daily route.
AI Can Predict When Equipment May Fail – Shipping Industry
If any equipment breaks during the shipping supply chain process, the entire shipment is in jeopardy. This can be very troublesome and can end up costing companies millions. Fortunately, AI can help predict when equipment may fail so that companies can fix problems before they happen, and not after. Not only does AI consider past data, but they also consider live data from sensors to alert companies if machinery is about to break down.
