Executive Commentary |
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WiseTech Global
Fabian Blaicher
Group Portfolio Leader , Data Science www . wisetechglobal . com
Over the last year , ChatGPT , artificial intelligence and the NVIDIA stock price were covered widely in the press . But will AI drive value for logistics companies , or is it the next blockchain ?
In the wider software market , there have been some success stories . Thanks to companies such as Google and Microsoft Bing , consumers have benefitted from AI-driven search engine results providing useful summaries of relevant content . However , other products received mixed reviews and there ’ s a long tail of AI products which have already entered the tech graveyard .
Why is now AI ’ s moment in the spotlight ? The successful applications were driven by the massively improved cognitive and generative abilities of AI . Computers are now
Trade Tech
Bryn Heimbeck
President and Co-founder www . tradetech . net
Automation is shaping the future of the logistics Industry . What can be automated ? Anything that requires logic , rules or memory . What can ’ t be automated ? Anything that involves creativity .
I like to think that logistics software brings to the movement of goods what the assembly line brings to manufacturing . Similar to an assembly line , much of the logistics process relies on clearly defined steps or tasks . These tasks , including “ book the shipment ,” “ issue the
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much better at understanding text , images , documents or videos than one or two years ago . This has coincided with AI improvements in generating content ( generative AI ). We ’ ve seen all sorts of applications of this , i . e ., answering support questions , generating marketing copy or even writing poems .
How far can this really go ? The companies that build the underlying tech are continuing to invest in new versions of foundational AI models or systems where multiple AI agents with different specialties work together to solve complex , multi-step problems .
We ’ re still very much at “ day one ” of applying AI to business processes . We will see a much higher number of software features and business processes driven by AI over the next five years . For the logistics industry where customer and delivery experience are everything , we expect that AI will play a key role in delighting customers .
Warning : written by a human .
pick-up order ,” or “ rate the bill of lading ” stem from the vendor selection process and the specific routing instructions provided by the party that initiated the contract . The logistics process involves executing these contracted services , beginning with the creation of dynamically built shipment data sets .
Shipment data sets are built progressively as each step is executed , with information from previous tasks seamlessly integrated into the next , enabling opportunities for automation . When a shipment is booked , the system automatically identifies the carrier , vessel and target dates , generating a booking number . This , along with the booking details , load date and location , automatically triggers the creation of the pick-up order , streamlining the process .
Creating the data structures that define vendors , vendor pricing and routes , among other things , will lead to the automation of the execution of
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these steps / tasks . That automation or mechanization of the process will be more reliable than what humans do today manually , primarily because computers have better memories than humans . They just don ’ t forget .
While computers excel at executing tasks with precision , they can ’ t solve problems or navigate complex , creative challenges such as vendor negotiations . That ’ s where humans come in . People will always be essential in managing the logistics process , using computers as powerful tools to streamline operations and handle the administration . Technology can enhance efficiency , but it ’ s human ingenuity that drives real solutions .
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TranzAct Technologies
Mike Regan
Co-founder www . tranzact . com
Heading into 2025 , shippers are asking : Are we prepared for upcoming changes in the transportation marketplace ? Below are a few of the important issues shippers should expect to see :
Volatility in rates , especially in the truckload and ocean markets . For example , three weeks after hurricanes Helene and Milton struck , spot market rates in the truckload sector increased by 17 %. Rates in the ocean market will continue to fluctuate based on geopolitical factors ( e . g ., attacks in the Red Sea and the diversion of freight around the Cape of Good Hope ) along with economic conditions in North America , Europe , Japan and China .
Do not expect stability and predictability in 2025 . Smart shippers will develop contingency plans to avoid seeing their freight costs go through the roof and have their entire organization prepared in advance .
Variability in freight pricing , particularly in the less-than-truckload ( LTL ) markets . With changes forthcoming in the National Motor Freight Classification and LTL carriers focused on density-based pricing , shippers will see variances between what they thought they would be paying versus what they will actually be paying .
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“ Do not expect stability and predictability in 2025 . Smart shippers will develop contingency plans to avoid seeing their freight costs go through the roof and have their entire organization prepared in advance .”
Mike Regan
“ By integrating big data , AI provides real-time visibility for container transport , effectively addressing delays or unexpected situations during transit .”
Cash Zhou
“ Technology can enhance efficiency , but it ’ s human ingenuity that drives real solutions .”
Bryn Heimbeck
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