The integration of AI (Artificial Intelligence) into multiple different sectors, like logistics and transportation, is propelling many industries into the future.
AI enthusiast Yasmin Bashirova and chief of staff at Shift Technologies Inc. combine her engineering and finance background to deliver data-driven results for projects in finance, product development, and marketing.
Ms. Yasmin Bashirova goes more into detail on the subject of AI in transportation and logistics and what these innovative technologies will look like in the industry by 2023.
Research reveals that 65 percent of senior transportation-focused executives vouch towards an industry renaissance for processes surrounding logistics, supply chain, and transportation. AI is a technology found in the middle of this era of transformation.
AI creates automation within the logistics, supply chain, and transportation sectors that overlap in all parties’ benefit. The AI market’s growth in just logistics over 2017-2023 is estimated at a CAGR of 42.9 percent, reaching 6.5 billion dollars by 2023. For the AI market in transportation, the global market predicted it to reach 3.5 billion dollars by the year 2023.
In these industries, AI escalates the amount of data used, increases the number of working devices, reduces costs, and boosts process enhancement. Factors such as automated drones and vehicles produce some of the many potential benefits for the transportation and logistics industries.
Increase Road and Passenger Safety
AI applications such as autonomous vehicles can help reduce road traffic-related fatalities. Human errors including speeding, drunk driving, and distraction are responsible for over 90 percent of road type accidents in some parts of the US. Studies reflect the possibility that self-driving vehicles can decrease traffic deaths in some developed countries by up to 90 percent by 2050. A future prediction shows that by 2030, one out of every four cars will be driverless or an autonomous vehicle.
Better Transportation Predictability and Reliability
When it comes to transporting people or goods, success is defined by congruous execution as well as accurate, predictable departure and arrival times. Elements such as congestion or uncertain and unreliable infrastructure can decrease transportation’s predictability and reliability. AI immersed in these transportation and logistic processes can provide efficacy and transparency.
Reach Maximum Efficiency
AI not only assists through automation but also helps reach maximum efficiency through optimizing movements. An example of incorporating AI in logistics to achieve high productivity is utilizing AI to match delivery service providers with shippers.
Positive Environmental Effect
As global warming is a severe issue that endangers the planet’s future, AI can improve the fight for environmental good. A noticeable 23% of total energy-related CO2 emissions comes from the worldwide transport industry. Unfortunately, these emissions are predicted to double by 2050. Luckily, AI can become an essential factor in reducing the transport sector’s environmental impact. By optimizing routes, innovative technology can reduce the number of wasteful trips on the road or over the ocean. These innovations not only improve effectiveness but also lowers greenhouse gas emissions.
About Yasmin Bashirova
Yasmin Bashirova went to college to become an energy resource engineer and worked as an Investment Banking Analyst at Goldman Sachs prior to working as Chief of Staff at Shift Technologies, Inc. She draws from her engineering, finance, and analytical background to deliver data-driven results for a multitude of projects in her current role. Besides her professional accomplishments, Yasmin is also extremely active in her community, speaks openly on human rights and social justice issues, and strives to pave the way for young women to become tech and finance leaders.