BLOCKCHAIN AND ARTIFICIAL INTELLIGENCE IN LOGISTICS
A blockchain is a decentralized ledger that records all peer-to-peer network transactions. This technology allows participants to confirm transactions without the need for a central clearing authority. Fund transfers, trade settlement, voting, and a variety of other issues are all possible applications.
Blockchain allows for seamless communication across entire supply chains. In this way, it improves trust, security, and speed. It can even be used to create platforms where logistics providers can offer real-time free capacity in trucks or ships.
The blockchain and artificial intelligence (AI) are terms used in times of need for digitization, as there is a worldwide challenge with a lack of qualified workers. Digitalization, in conjunction with blockchain technologies, is reducing the need for administrative and manual labor, allowing employees in those fields to advance by learning new skills and obtaining higher-paying jobs in the same industry. But there is a middle step to it, as there is a need for adoption from the government side to start accepting digitalized solutions as part of a long-term development focus, which will completely remove bureaucratic challenges and fully integrate itself with blockchain technologies that are providing real-time overviews and documentary proofs needed by customs offices, road control agencies, and other involved parties so the supply chain can be more effective, smoother, and traced by all involved parties.
What does GEMINI think about Blockchain?
We agree that blockchain in logistics comes in a form of a decentralized public system of record that documents all changes in a real-time record. With this data, companies can create a strategy to implement faster routes, eliminate unnecessary steps in the delivery process, reduce errors and save time.
What does GEMINI think about AI?
Artificial intelligence solutions can help determine which steps in a supply chain can be improved to increase profits, manage carrier contracts, and even negotiate shipping and procurement rates. Using AI-driven data analytics, businesses can account for variables such as fleet maintenance schedules, vehicle sensors, inclement weather, and fuel costs. It gives critical data to drivers, allowing them to travel more efficiently, and it helps businesses cut logistical costs.
How can AI improve supply chain?
Predicting different situations and scenarios by searching through the massive amounts of data generated by today’s supply chains can bring different solutions and answers to an unexpected events, such as weather patterns, transportation bottlenecks, labor strikes…, allowing companies to find quickest and best option in order to reroute shipments and satisfy clients needs.