Last month, DataRoot Labs published an article on the impact of Artificial Intelligence (AI) in Logistics addressing the industry's current challenges and the importance of startups and major players in developing this technology.
AI in Logistics Innovation Landscape 2021 by Data Root Labs
AI in logistics playing a key role
At this point, most people have heard or are familiar with the concept of Artificial Intelligence and its potential benefits. As AI becomes more powerful, more companies are exploring its benefits. AI technology is hitting new adoption levels each year, with industries like supply chain management and logistics taking center stage in the AI race. Infoholic research, the AI in logistics and supply chain market is predicted to grow at a CAGR of 42.9% over 2017 – 2023 to reach USD 6.5 billion by 2023.
We're living in an era where people want their stuff now, the speed of delivery has never been so relevant. Companies are expected to deliver a high-quality service at a low cost, putting pressure on company margins and pushing them towards labor automation. This industry's complexity makes it difficult to persist without technologies such as AI that can deal with complex processes and manage large amounts of data, delivering high value to adopters.
Industry trends – AI in automation
The innovation of AI in logistics can help to automate existing processes. Many trends are thrusting automation toward the top of the logistics CEO's agenda and there are many reasons for this. Automation is the first step towards large-scale optimization, and many companies have already done it to stay competitive. Existing processes can be optimized, which results in higher efficiency and more productivity.
• Automating repeatable tasks
• Reducing human error
• Automating customer data collection and storage
• Automation of warehouse operations with autonomous robots
• Reduce operational costs
AI already delivers significant benefits to the industry; however, many potential use cases are either being explored or internalized by major logistics companies.
HAIPICK ACR at a SMT Electronics Factory
AI enabling companies in the global logistics industry
Data Root Labs has compiled a list of 100 startups that bring AI to the global logistics industry. Every logistics tech startup carries a unique approach to AI, and some of them have already operationalized several use cases. The list features HAI ROBOTICS in the Warehouse Automation category. The Shenzhen-based company was established in 2016 and uses advanced robotics and AI technology to help customers realize warehouse automation transformation. It currently has over 330 employees and has landed more than 70 projects worldwide. Dedicated to R&D of autonomous case-handling robotics (ACR) system, the company has developed innovative technologies that provide customized solutions according to customers' requirements. The intelligent brain behind HAI ROBOTICS solution is HAIQ software platform. This software can be connected to external management systems, deal with relevant business requirements, perform data analysis, and visual management to ensure the simultaneous dispatch of multiple robots and various equipment.
HAIPICK ACR at an Apparel Logistics Center
The current automation demand has helped companies like HAI ROBOTICS to grow rapidly. The coronavirus pandemic put a major strain on the entire sector, creating unprecedented opportunities for logistics sectors.
• Raise of e-commerce industry as more consumers switch from offline to online
• Drones, autonomous vehicles, robotics startups that replace humans in delivery, minimize exposure to a labor shortage, and help maintain social distancing.
• Route optimization with AI to speed up delivery of goods while reducing carbon emissions.
But even if we managed to control the coronavirus pandemic, AI technology in logistics is an irreversible trend, and companies will have to adapt if they want to stay competitive. The benefits are limitless, and we can only hope that companies keep innovating to further develop new applications that benefit the whole industry.
Read the original publication here DataRoot Labs