Transportation management and logistics have been transformed by Artificial Intelligence (AI), Machine Learning (ML) and the Internet of Things (IoT) at a breakneck pace. Adopting these technologies has proven results: More productivity, safer operations and sustainable supply chain, warehouse and fleet management solutions.
Don’t fear disruption — use it! MILL5 can help you take advantage of these novel data-driven technologies in your transportation business. Get ready to leave competitors in the dust.
THE POWER OF DATA
AI and the IoT both generate massive amounts of data. The intersection of these digital tools can contribute to developing, testing, and executing intelligent transport and safety systems.
The future looks bright for both intelligent technologies:
- According to Gartner, at least through 2024 about 50% of supply chain organizations will invest in applications that support AI and advanced analytics capabilities
- The industry size of IoT in the transportation sector is worth $83.25 billion and is predicted to achieve $495.57 billion, generating a 19.9% CAGR between 2021 and 2030, says ResearchAndMarkets
8 WAYS AI AND IOT ARE REVOLUTIONIZING TRANSPORTATION
AI can amplify in many ways the value of diverse types of data gathered by IoT devices:
Traffic management and route optimization
Valuable insights like traffic predictions can be gleaned from data processing, says Forbes. These insights provide important details like traffic predictions and conditions, such as accidents or road blockages.
AI is working to improve self-driving vehicles’ capabilities, says Entrepreneur Magazine. AI can mimic human decision-making when supplemented by IoT connectivity of edge sensors and data collectors to the cloud.
This relationship between AI and IoT is key to self-driving and connected vehicles on roads. AI sorts and analyzes the data so the self-driving vehicles can navigate streets and traffic.
Autonomous vehicles will also contribute to the upkeep of transportation fleets. According to Forbes, 65% of goods are already transported via trucks globally. Maintenance and administration expenses could be reduced by as much as 45% with the use of autonomous trucks.
Predictive maintenance, top-down visibility, real-time object tracking and alerts, and asset information can all be automated without human intervention.
IoT devices collect data of assets, objects and people through sensors and transmit it to the distributed cloud. ML and AI can then be used to rapidly analyze the data collected from IoT devices. This data processing emboldens managers to make the right decision for their business.
Transport management businesses can plan for the worst and distribute resources accordingly when backed up by data. According to Entrepreneur Magazine, “Streaming data from IoT devices comes into an AI engine that adds it to a constantly growing pool of information. Through processes that spot patterns, the AI can reliably predict the changes in a product’s cost, allowing a business to adapt.”
“Smart Warehouses” collect data through connected devices and sensors. AI can then channel and assess huge volumes of data to efficiently perform all warehouse inventory operations.
IoT is critical for intelligent safety systems to function. IoT devices collect data on heating, energy consumption, operating conditions and more, and can send alerts through sensors of abnormal processes.
Connectivity and data collection will also help the roads stay safe. According to a report by Stanford University, self-driving cars could possibly reduce traffic-related deaths and injuries.
IoT-driven vehicles fueled by AI will reduce environmental impact, carbon emissions, vehicle expenses and fuel utilization.
LET MILL5 IMPLEMENT AI AND IOT INTO YOUR TRANSPORTATION BUSINESS
MILL5’s powerful intelligent capabilities and tools can accelerate transportation businesses. We leverage AI, ML, IoT technology and more to solve your major transportation issues.
MILL5 can maximize your safety, mobility and environmental performance with our range of cutting-edge “Smart Technology” capabilities:
- Innovative GIS/GPS solutions
- Accelerated supply chain performance
- Real-time tracking capabilities
- Streamlined and automated transactions
- Enhanced IoT devices with RFID and NFC capabilities
- Improved system agility and responsiveness
- Enhanced insight using AI & Machine Learning
- Shipping and logistics solutions
- Vision processing for traffic analysis
- Transportation of high value commodities (i.e. oil and gas)
- Multiple forms of transportation including air, truck, ship and rail
MILL5 utilizes AI, ML and IoT as competitive differentiators so you can achieve efficiencies across vehicles, infrastructure, mobile phones and connected devices.
FOR MORE INFORMATION ABOUT MILL5
Partner with MILL5 to gain a tech-savvy transportation, warehouse and fleet management solution provider. Through captured data, AI and ML we’ll provide benefits without the costs.
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