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Emerging startups are deploying AI to solve supply chain disruptions

ConsumerGeniuses

ConsumerGeniuses

Supply chain disruptions are inevitable, and they show little sign of abating. Therefore, some startups and logistics firms have deployed AI to solve supply chain disruptions. Reuters finds that the market for advanced technology that solves supply chain issues will cross $20 million per year for the coming 5 years, while Gartner informs that in the future, 80% of supply chain applications will use AI in one or the other way. Interos raised $1 billion in its latest funding due to its ability to map out 400 million businesses globally. The Virginia-based company, Arlington, mentioned that the AI-driven functionality allows the company to immediately alert customers if fire, hacking, or flood causes potential disruption. Another firm, KlearNow, deploys AI to automate paper-dominated customs clearance processes, which helped England-based EED Foods in keeping track of hundreds of shipments. Autotech Ventures, a Silicon Valley venture capital firm, has also invested in AI-empowered supply chain solution providers like KlearNow and Newtrul.

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