Future of automation in transportation & logistics industry – are we there yet?
Like many other industries, the transportation and logistics industry is poised to grow exponentially with the advancements in technologies. As the latest technologies are redefining traditional business models, they must adapt themselves to stay ahead of the competition. According to Mckinsey, many operations will be automated by 2030, as artificial intelligence takes over the many repetitive activities that logistics companies perform. With endless possibilities in machine learning, artificial intelligence, robotics, and IoT, enterprises are looking at automation to streamline logistics on a global scale. .
Enterprises may find it challenging to find skilled labor, or they cannot meet the per capita cost for maintaining a large manual labor force. Because of fierce market competition, enterprises must keep their expenses to the minimum to win this race. Also, it is not an ideal solution to hire more labor to meet fluctuating demand and supply. To address this situation, enterprises can leverage automation as the best choice.
Technological advancements in artificial intelligence, machine learning technologies, and IoT is redefining the entire ecosystem, and transportation & logistics is not spared. From planning until execution, AI will play a vital role such as automated transportation, order prediction, optimizing warehouse locations in line with requirements. However, lack of clarity on which technology will emerge as the winner may create some amount of confusion among the organizations to channelize and prioritize their investment in these technologies. .