Artificial Intelligence
Artificial intelligence (AI) in Supply Chain and Logistics Market Size to Grow USD 3377.2 Million by 2030 at a CAGR of 10.1% | Valuates Reports
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BANGALORE, India, July 15, 2024 /PRNewswire/ — Artificial intelligence (AI) in Supply Chain and Logistics Market is Segmented by Type (Artificial neural networks, Machine Learning), by Application (Inventory control and planning, Transportation network design, Purchasing and supply management, Demand planning and forecasting): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global Artificial intelligence (AI) in Supply Chain and Logistics Market was valued at USD 1713 Million in 2023 and is anticipated to reach USD 3377.2 Million by 2030, witnessing a CAGR of 10.1% during the forecast period 2024-2030.
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Major Factors Driving the Growth of AI in Supply Chain and Logistics Market:
The market for supply chain and logistics artificial intelligence (AI) is expanding quickly due to the growing demand for operational efficiency and cost reduction. Artificial Intelligence (AI) technology, including robots, machine learning, and predictive analytics, are transforming supply chain operations through improved demand forecasting, inventory management, and decision-making skills. Businesses are using AI to lower operational risks, increase consumer happiness, and obtain real-time insights. Innovations in cloud computing, big data, and IoT are driving this market rise by facilitating real-time data exchange and seamless integration among supply chain networks. Because of this, the application of AI in supply chain and logistics has the potential to revolutionize current paradigms and greatly increase productivity and competitiveness.
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TRENDS INFLUENCING THE GROWTH OF THE AI IN SUPPLY CHAIN AND LOGISTICS MARKET:
Demand planning and forecasting are undergoing a revolution thanks to machine learning algorithms, which analyze enormous datasets to find trends and make very accurate predictions about future demand. Numerous elements are taken into account by these algorithms, including past sales data, market patterns, seasonal variations, and outside variables like economic indicators. Machine learning helps organizations optimize inventory levels, minimize stockouts and overstock situations, and improve production planning by offering accurate demand projections. This promotes the acceptance and expansion of AI in the supply chain and logistics industry by resulting in more effective supply chain operations, cost savings, and increased customer satisfaction.
Because artificial neural networks (ANNs) can interpret complicated and nonlinear relationships inside data, they are a key factor in the evolution of AI in supply chain and logistics. Because they can learn from past data and constantly improve their accuracy, artificial neural networks (ANNs) are excellent at jobs like demand forecasting, route optimization, and anomaly detection. Their capacity to manage substantial information and provide instantaneous insights enables organizations to promptly arrive at well-informed judgments. In the supply chain and logistics industry, the application of ANNs promotes the wider use of AI technologies by increasing operating efficiency, lowering costs, and improving service standards.
Advanced algorithms are used by AI-driven inventory control and planning systems to optimize stock levels and expedite inventory management procedures. To manage ideal inventory levels, these systems evaluate data from a variety of sources, such as lead times, supplier performance, and sales patterns. AI decreases excess inventory, lowers carrying costs, and avoids stockouts by ensuring that the appropriate quantity of stock is accessible at the correct time. The supply chain and logistics industry is seeing a surge in the usage of artificial intelligence (AI) due to the effective inventory management that lowers operating costs and improves supply chain responsiveness.
AI provides data-driven insights and predictive analytics to improve supply chain and logistics decision-making processes. Large-scale data is analyzed by machine learning algorithms in order to spot trends, predict demand, and improve inventory control. Businesses may use AI to make well-informed decisions that lower costs, increase productivity, and improve customer happiness. Predictive analytics minimizes stockouts, reduces surplus inventory, and helps predict swings in demand. This results in more effective supply chain operations, which in turn propels the market for AI-enabled logistics and supply chains to rise.
Automation powered by AI greatly increases productivity and efficiency in supply chain management. Autonomous cars and robotic process automation (RPA) eliminate human error, expedite operations, and simplify repetitive jobs. For example, AI-driven sorting systems and self-governing warehouses facilitate expedited and more precise order fulfillment. The performance of the supply chain as a whole is improved by the greater efficiency, which also results in cost savings and faster reaction times. The increasing use of AI technology in supply chain and logistics is fueling industry development as companies aim for increased efficiency.
Significant cost savings in supply chain and logistics operations are made possible by AI technology. Predictive analytics and automation maximize resource use, cut down on waste, and save operating costs. For instance, production plans may be more accurately aligned with real demand thanks to AI-driven demand forecasting, which also lowers the cost of retaining extra inventory. AI-enabled route optimization for transportation also reduces the amount of fuel used and the cost of transportation. The cost-saving potential of AI in supply chain and logistics becomes an attractive driver for adoption, driving market growth, as businesses want to enhance their bottom line.
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AI IN SUPPLY CHAIN AND LOGISTICS MARKET SHARE ANALYSIS:
Large expenditures in AI research and development, together with early adoption of cutting-edge technologies, are driving the AI supply chain and logistics market in North America. The fast integration of AI solutions in supply chain management is facilitated by the existence of both cutting-edge startups and large IT businesses. The adoption of AI is fueled by the region’s strong focus on increasing operational efficiency, cutting costs, and improving customer experience.
Furthermore, the deployment of AI-driven systems is facilitated by the reliable internet access and well-established infrastructure. The market for artificial intelligence in supply chain and logistics in North America is expected to develop significantly as companies strive to maintain their competitiveness and satisfy the increasing need for quicker and more dependable services.
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Artificial Intelligence
Simply NUC® Launches Intel® AI PC Development Kit to Empower AI Innovators
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Intel Subsidy Provides $500 Discount for AI Developers on AI PC Development Kit
AUSTIN, Texas and BELFAST, United Kingdom and DUBLIN, Aug. 21, 2024 /PRNewswire/ — Simply NUC, a global leader in customized PC solutions, in collaboration with Intel, proudly announces the Intel® AI PC Development Kit. This advanced kit is equipped with the powerful Core Ultra 7 (155H), 32GB RAM, 512GB storage, and Windows 11 Pro, making it ideal for developers and researchers focused on AI innovation. The configured PC features Intel® Iris® Xe graphics and the OpenVINO™ toolkit, enabling optimized AI performance for deep learning and computer vision tasks.
The Intel AI PC Development Kit is tailored for software developers, data scientists, and educators focused on AI and machine learning projects. With robust processing capabilities, users can efficiently create, test, and deploy AI models. Additionally, as part of the Intel AI Developer Program, users gain access to valuable resources such as tutorials, webinars, and community support. Program participants can also enjoy a $500 discount on the kit, making it an affordable and comprehensive solution for AI innovation.
“We are thrilled to offer this powerful PC development kit to the AI community,” said Aaron Rowsell, President & Founder of Simply NUC. “With the combined expertise of Intel and Simply NUC, this kit provides developers with everything they need to push the boundaries of what can be achieved with AI technology.”
The launch of the Intel AI PC Development Kit represents a pivotal moment for Simply NUC as the company continues to enhance its portfolio of specialized computing solutions. The kit is poised to become an essential resource for AI developers and researchers worldwide by leveraging Intel’s leading technology and Simply NUC’s expertise in high-performance PCs.
The Intel AI PC Development Kit is now available through all Simply NUC websites. For more information and to take advantage of the developer program discount, visit: https://simplynuc.com/intel-for-ai-developers/
About Simply NUC:Formed in 2015 and headquartered in Round Rock, Texas, Simply NUC, Inc. is a global systems integrator and OEM specializing in customized small form factor PCs. Simply NUC provides fully configured, warrantied, and supported PC systems, as well as end-to-end NUC project development, custom operating system installations, and NUC accessories. Learn more at www.simplynuc.com.
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Artificial Intelligence
Tower Company EuroTeleSites to Advance Digital Transformation with Sitetracker
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Cost and time savings will drive efficiencies; powerful analytics sharpens rollout strategies
MONTCLAIR, N.J., Aug. 21, 2024 /PRNewswire/ — Sitetracker, the world’s leading provider of deployment operations management software, will implement its software at EuroTeleSites, third largest listed company in Europe with markets in Austria, Bulgaria, Croatia, Slovenia, North Macedonia, and Serbia. With Sitetracker, EuroTeleSites will increase the efficiencies of wireless infrastructure deployments across all countries, improve product management and asset management, and harness its troves of proprietary data for strategic insights.
With more than 13,500 sites across CEE, EuroTeleSites deploys, operates, and maintains a massive network of critical infrastructure that wireless service providers across all six countries use. Rising customer expectations led to the company’s plan to move off its legacy asset management software to a modern platform with better usability and built-in data analytics. EuroTeleSites will make that digital transformation with Sitetracker.
“The approximately 400,000 mobile towers of all telcos and TowerCos throughout Europe form the infrastructural backbone of an increasingly digital, mobile society. As a tower operator, this requires close coordination with customers, authorities, landlords and suppliers: from site selection to construction and maintenance. Sitetracker helps us synchronize all the necessary information across countries and in real time and use it more effectively,” comments Lars Mosdorf, CFO of EuroTeleSites and responsible for IT, on the potential of the software changeover. “With the introduction of Sitetracker, we are creating state-of-the-art support for our team and the basis for big data analytics, machine learning and, in a later step, digital twins,” says Mosdorf, delighted with the forward-looking investment.
Sitetracker continues to see extraordinary success in international markets, particularly in Europe where telecom service providers are investing in high-capacity fiber and wireless infrastructure to deliver much-anticipated 5G services. The Sitetracker product suite, with its built-in best practices for the telco industry, offers a complete telecom ecosystem with prebuilt, intelligent templates and workflows based on years of experience that benefit EuroTeleSites as it moves nimbly to respond to its customers.
“In order to reap the benefits of digital transformation, which include significant cost and time savings, companies must re-imagine old processes and use data to improve them,” said Giuseppe Incitti, CEO of Sitetracker. “Sitetracker gives telcos and TowerCos the tools to make this shift simply and effectively, so they can move forward with clear, precise, real-time information and focus on serving their customers with maximal efficiency. We look forward to a continued positive relationship with EuroTeleSites.”
About SitetrackerSitetracker powers the rapid deployment of tomorrow’s infrastructure. The global leader in deployment operations management software, Sitetracker helps innovative companies like Cox, Telefonica, EVgo, Nextera, Comcast, ChargePoint, Cypress Creek Renewables, Ziply, Southern Company, Iberdrola, Vodafone, Vantage Towers, VerticalBridge, and Congruex plan, deploy, and manage millions of programs, projects, sites, and assets across nearly 300 customers globally. By giving telecommunications, EV charging, renewables, utility, and real estate teams a cloud-based solution that works easily and effectively, Sitetracker accelerates the transition to a fully connected and sustainable future. Deploy what’s next. For more information, please request a demo.
About EuroTeleSitesEuroTeleSites, a listed company on the Vienna Stock Exchange, is the leading provider of telecommunications infrastructure and solutions in the CEE region. It is building the region’s digital infrastructure by operating 13,552 strategically located sites in the second quarter 2024. In the 2023 reporting period (Sep 22 – Dec 31), 165 employees generated revenues of EUR 71.9 million. As a European player among the top 30 tower companies worldwide, EuroTeleSites´ goal is to further strengthen its position as a trusted partner in the telecommunications industry. Besides A1 as the anchor tenant, customers range from mobile network operators to internet service providers, enterprises and government agencies. EuroTeleSites is dedicated to delivering reliable and innovative infrastructure solutions to meet the ever-growing connectivity needed in today´s world.
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Artificial Intelligence
Indosat Ooredoo Hutchison Elevates National Technological Ambition with the Unveiling of Indonesia’s First AI Experience Center
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JAKARTA, Indonesia, Aug. 21, 2024 /PRNewswire/ — Indosat Ooredoo Hutchison (Indosat or IOH, IDX: ISAT) has taken a significant step forward in its larger purpose to empower Indonesia by launching the country’s first AI Experience Center at Solo Technopark in Solo, Central Java. This state-of-the-art facility, backed by advanced 5G connectivity, stands as a testament to Indosat’s commitment to shaping Indonesia’s future as an AI Nation and positioning the country as a key player in the global AI community.
The inauguration of this groundbreaking AI Experience Center was marked by the presence of prominent figures, including Wijaya Kusumawardhana, Expert Staff to the Minister for Social, Economic and Cultural Affairs representing the Minister of Communication and Informatics of the Republic of Indonesia; Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison; and Teguh Prakosa, the Mayor of Surakarta. This milestone underscores Indonesia’s strides toward realizing its vision of a Golden Indonesia 2045 through the adoption of advanced technologies, with 5G connectivity serving as the backbone of this transformation.
Expert Staff to the Minister of Communication and Informatics of the Republic of Indonesia for Social, Economic and Cultural Affairs, Wijaya Kusumawardhana, expressed, “We congratulate Indosat Ooredoo Hutchison for pioneering the first AI Experience Center in Indonesia. This initiative signifies a pivotal moment in the evolution of our telecommunications industry. We are confident that this experience center will catalyze further innovation across sectors, and we stand ready to support its success.”
President Director and CEO of Indosat Ooredoo Hutchison, Vikram Sinha, said, “This AI Experience Center marks a cornerstone in our journey to empower Indonesia through AI. It is a clear demonstration of our commitment to transforming Indonesia’s digital and telecommunications landscape. We deeply appreciate the support from the Indonesian government and our strategic partners who share our vision of propelling Indonesia onto the global stage. This is only the beginning of many exciting developments as we unlock infinite possibilities for millions of Indonesians.”
Mayor of Surakarta, Teguh Prakosa, emphasized, “We are honored that Indosat has chosen Solo for the establishment of Indonesia’s first AI Experience Center. This facility will not only enhance Solo Technopark but also trigger a multiplier effect on the local economy and digitalization, benefiting education, tourism, and job creation.”
Partnering with global technology leader Huawei, the Indosat AI Experience Center showcases cutting-edge AI technologies applicable to various sectors, including smart city management optimized by its 5G network, arts, food & beverages, and other creative industries. Beyond serving as a showcase for the latest AI innovations, the AI Experience Center will also function as a training hub, offering programs to students, public servants, and the broader community on how AI can enhance productivity and create new opportunities.
This hands-on experience is a precursor to the AI Center of Excellence that Indosat plans to establish, which will be powered by 5G technology and is set to be groundbreaking in the near future. Indosat’s commitment to catalyzing advanced technology in Solo began in 2021 with the launch of its 5G service, followed by the establishment of Solo Safari as the first 5G zoo in Indonesia.
Guided by Indosat’s overarching purpose of empowering Indonesia, the AI Experience Center is poised to be a catalyst for innovation, fostering the development of AI-ready talent, and providing society with the tools to harness AI’s transformative power. As Indonesia stands on the cusp of a technological revolution, Indosat’s AI Experience Center symbolizes not just the dawn of a new era, but the beginning of a journey that will see Indonesia rise as a leader in AI. With this facility, Indosat is not merely investing in technology; it is investing in the future of the nation—empowering Indonesians to seize the boundless opportunities that AI and 5G present and to propel the country toward a brighter, more innovative future.
About Indosat Ooredoo Hutchison
Indosat Ooredoo Hutchison (Indosat, IDX: ISAT) has the vision to become the most preferred digital telecommunications company in Indonesia. Together with its subsidiaries and affiliates, Indosat provides cellular services, ICT solutions, data centers, Fiber to the Home (FTTH), electronic payment services, financial services, and other digital services. Indosat has a larger purpose of empowering Indonesia, and with the spirit of Gotong Royong, Indosat wants to be the main collaborator in realizing it and creating meaningful change.
Disclaimer
This document may contain financial information and the results of certain operational activities, and may contain a number of projections, plans, strategies, and objectives of Indosat Ooredoo Hutchison, which are not statements of historical fact which will be treated as forward-looking statements in accordance with applicable law. Forward-looking statements are subject to risks and uncertainties that could result in actual events and future achievements of Indosat Ooredoo Hutchison different from those expected or indicated by the statements. No warranty can be given as to the results expected by Indosat Ooredoo Hutchison, or indicated by such statements, to be achieved.
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