Can Artificial Intelligence transform the supply chain?

The logistics industry represents 12% of global GDP and is growing at a compounded annual growth rate (CAGR) of 5% per year. Based on these estimates, global logistics spending will surge to more than $15 trillion by 2023. These estimates in conjunction with surging supply chain costs, created by the dynamics of the global pandemic, have increased the need for innovative technology to increase efficiency and lower supply chain costs.

But what is a supply chain? In its simplest form, a supply chain is a sequence of processes involved in the production and distribution of goods. Although this sounds simple, trillions are spent in logistics that can be reduced through the automation of manual processes and leveraging machines to identify problems before they occur by leveraging millions of data points.