What is Artificial Intelligence (AI)?

Artificial intelligence involves systems that can replicate, automate, imitate human reasoning, and take on data-driven actions more effectively than humans do. In other words, AI shares some common skills with humans.

These are the ability to interpret various forms of information, understand different datasets, learn, and produce solutions in many ways.

Artificial Intelligence in the field of Transportation and Storage

AI is a relatively new technology in the field of transportation and storage. Despite this, many enterprises have already begun using AI-based systems. With asset efficiency, predictive maintenance, and working on routine tasks, its successful approach helps. There are infinite use cases for AI in logistics. With continuous growth in the industry that AI subsystems will support us with, we are likely to see exciting things.

It is the responsibility of the shipping and logistics industry to acquire, store, and distribute products efficiently. The digital Internet era is continually changing, and technology has always played an important role in adjusting to these shifts in the transport and logistics sectors. Artificial intelligence in this field, where traditionally embedded chips and RFID tags have been used, redefines processes with human-like cognitive skills.

Mckinsey Global Institute predicts that the Transport and Logistics industry will benefit from AI with a potential incremental value of 89% as compared to the other existing analytical technologies.

 

How can AI help transportation and storage sector?

In its journey of innovation and evolution, technological advancements have helped the transportation sector progress. AI is one such new-age technology that has contributed to the industry. Leveraging AI in transportation helps increase passengers’ safety in the sector, reduce traffic congestion and accidents, reduce carbon emissions, and reduce overall financial costs.

 

AI is one such new-age technology that has contributed to the industry. Leveraging AI in transportation helps increase passengers’ safety in the sector, reduce traffic congestion and accidents, reduce carbon emissions, and reduce overall financial costs.

 

Advantages of AI in Transportation and Storage Sector

Somehow, the best match for AI and transport came naturally as the introduction of these technologies can have a huge effect on the whole industry. However, the implementation of AI still differs throughout geographic locations.

  1. Traffic Management: Using traffic data and information about ongoing urban events, AI methods allow us to forecast traffic and suggest alternate routes via automation.
  2. Labor Costs: Increased usage of AI completely automated fleets to address the problem of long driving hours and breaks, ensuring lower labor costs while providing higher income.
  3. In safety and traffic accidents, AI can also have a major impact. Driving at night is a great challenge, and the problem can be greatly improved by smart unmanned vehicles. Without causing any traffic accidents, auto-pilots, or unmanned vehicles that can work without an individual can allow drivers to snooze.
  4. It provides data or information in real-time that will assist businesses in intervening in their decision-making.
  5. It makes processes efficient and improves production and productivity, and resource planning is more successful.

Drawbacks of AI in Transportation and Storage Sector

Although AI can bring several advantages to every industry, there are also some disadvantages to pay attention to, such as establishing clarity in AI decision-making or autonomous vehicle safety issues.

  1. Job flow has become a big problem for vehicle or cab drivers and other stakeholders of the industry.
  2. For undeveloped nations, the use of solutions such as their infrastructure is not equipped to provide maintenance would face massive challenges.
  3. Transport companies also face possible AI disadvantages because transport costs lead to a large percentage rise in company revenue. To stay competitive within their industry, all existing companies would need to develop and introduce AI technology. The high cost of designing, repairing, and maintaining complex machines can be extremely high.

Potential uses of AI in Transportation and Storage Sector

  1. Delay Prediction: Continuous tracking of airplanes can be carried out with the aid of computer vision devices, minimizing unplanned downtime.
  2. Traffic Management: The vast volume of traffic information is gathered by sensors and cameras embedded everywhere on roads.
  3. Self-Driving Vehicles: For autonomous navigation, the technology utilizes mapping solutions. With several layers of redundancy, it develops fully integrated autonomous applications. The vehicle (acceleration, braking, and steering) is operated by robotic software, and AI decides the action and decision making of the vehicle (obstacle avoidance, optimum route, etc.)

 

References:

  1. AI in Logistics and Transportation – InData Labs. https://indatalabs.com/blog/ai-in-logistics-and-transportation
  2. Artificial Intelligence Applications to Critical …. http://onlinepubs.trb.org/onlinepubs/circulars/ec168.pdf
  3. How the Tech Revolution Is Reshaping Shipping and …. https://readwrite.com/2020/05/07/how-the-tech-revolution-is-reshaping-shipping-and-logistics/
  4. https://www.forbes.com/sites/cognitiveworld/2019/07/26/how-ai-can-transform-the-transportation-industry/?sh=300a4a284964