Artificial intelligence (AI) holds a lot of promise for the logistics industry, across almost every vertical market. AI has several applications in the supply chain, including extracting information, data analysis, supply and demand planning, autonomous vehicles, and warehouse management. The true value for the supply chain comes with AI-powered visibility — to go beyond identifying exceptions to recommend corrections (and eventually, automatically do so).
Machine learning is another aspect of AI that can analyze complex data to establish current patterns and future trends, then make decisions based on outcomes. Machine learning helps to manage the flow of goods throughout the supply chain, ensuring that raw materials and products are in the right place at the right time. These solutions exist today — and will only get smarter as they have access to broader, cross-enterprise data.
Blockchain technology is one of those technologies that has potential, but in the supply chain and logistics industries, adoption isn’t yet where it was expected. There are many theoretical benefits to come from use of Blockchain technology, not the least of which is more secure and transparent tracking of assets.
While some big players have started Blockchain-powered pilots for logistics that point to future value, mass adoption is years away. Companies should invest in resources that can make an impact today, and still allow for growth tomorrow.