AI is still in the process of development. Even the very definition and boundaries of what we can consider artificial intelligence are poorly understood. Not to mention the question of morality certain researches have already started to raise. However, it is without question a fact that artificial intelligence can immensely benefit almost every aspect of human life. This includes the logistics industry! If you have trouble believing this, let us take a look at the role of artificial intelligence in the logistics industry, both in the present and what we can predict in the future.
One of the main components of the logistics industry is an analysis of data. Unfortunately, it is also one of the main things we can never do perfectly. We can always utilize more data, newer and more relevant updates, and real-time changes we have no way of tracking efficiently. All of these limitations are of no concern to an AI with sufficient computing power, however. With their ability to process data faster, better, and in batches, the AI would breeze through the available workload. In addition, an internet connection would make it a breeze to stay up to date. Combined with the myriad of databases belonging to a company and the surveillance of goods, you get a perfectly informed master analyst to help you do your job! It all means that while some still wonder what AI is, others could be making great strides in their business.
Access to such vast quantities of advanced data also provides us with the ability to predict market trends. It is a significant advantage since knowing what is most profitable to buy and sell at any one time can make or break a business, especially if you are just starting out and need to grow your capital quickly. This task is done by comparing the numbers and types of purchases made in the most recent period. It is possible to spot gradual or sudden spikes in interest in a product or a loss in its popularity. This would then allow a business to either stock up on said articles or quickly dispose of their stock.
Generating the most optimal transportation routes
The same ability to analyze data, and the ability to connect to the internet, comes with another advantage. It would be possible to monitor the condition of all routes from the point of starting transit to the very destination. This would always allow the transport trucks to take the most optimal delivery routes. Thus cutting downtime, eliminating or minimizing the chance of getting stuck because of accidents, reducing carbon footprint, and making for greener processes. Thereby not only ensuring higher earnings and protecting lives but also making our planet a little healthier overall!
Assistance with customers
The possibilities here are almost endless. AI cashiers for quick and easy checkout. AI customer service, with perfect knowledge of how to tackle nearly any issue due to its databases. An efficient and prompt ordering service, with practically no delays that usually occur due to communication errors. AI would even be able to give any and all information about a product to potential customers. No longer would you need to be concerned about staff not being able to keep up with all the newest models and upgrades because AI assistants could help them keep abreast of such information with no trouble at all!
Help with warehouse management
With warehouse rent prices rising, it is more important than ever to be as efficient as possible with the space available to you. AI can not only perfectly organize the inventory down to the very last box. Using the available data, they can arrange it to give easy access to the most sought-after items first. This would let you make a tighter fit of the rest without having to worry too much about not being able to get at some of it. Moreover, the increased shipping and order efficiency would keep the flow of goods into and out of the warehouse much smoother, making even more of a difference in space utilization.
The development of advanced delivery systems
One of the main reasons for logistics cost rises is a lack of human resources. With so much demand, it becomes impossible to meet it all. Which in turn forces people to compete over the available resources much more fiercely. On the other hand, there are many promising possibilities for AI. Self-driving cars would solve the issue of lacking workers. They would also be much safer and less likely to cause accidents. That is not even mentioning a potential drone delivery system! With no restrictions imposed by roads, the deliveries would be faster, safer, and much more efficient.
Advanced maintenance and assistance
The maintenance of equipment and facilities is a major, undeniable drain on resources. With AI in the mix, however, things would become much simpler. The monitoring systems would be able to diagnose any issues even as they begin to develop. This would allow them to direct employees to fix them before they grow into something unmanageable. Even better, with the predicted advances in AI technology, it would eventually become possible for AI to perform the repairs and maintenance themselves. This is without mentioning the benefit of allowing every employee to have their own AI assistance. Already devices such as Alexa are proving their worth. If more advanced versions become available, they would boost coordination between employees immensely, no matter the distance between branch offices.
We hope that you have found what we had to say about the role of artificial intelligence in the logistics industry interesting and informative. And, beyond all else, helpful! Those who take advantage of developing AI will no doubt be able to benefit tremendously. As technology advances, those benefits will only grow in magnitude.