Smart Data in logistics - investment in the AI platform or IoT technologies?
The logistics industry is at the brink of an AI Revolution. Trends observed in the B2C sector, pressure exerted by rising actors of the New economy, and recent experience of other industries such as the energy market, all indicate that such a transition is imminent. But what exactly does this mean for logistics, an industry which is currently only taking its first steps into digitization, and where data is so limited that the term “Big Data” simply does not apply? Most importantly, how can logistics companies benefit from the power of their data, bearing in mind the complexity of supply chain interactions and the scarcity of data-sharing standards? I discuss several ingredients for a successful move towards a data-driven process in logistics, starting with a focus on IoT investment, through data analysis, to AI roll-out. The talk covers use-cases encountered in our work at NavAlgo, including ideas of solutions to challenges faced by industry leaders.