Driving productivity: 4 AI use cases to transform the transport industry
Responsible for the movement of goods and people, the transport and logistics industry affect everyone in society and provides foundations for the economy. To keep pace with the evolving economy, the transport industry is seeking support to enhance productivity.
From the report
Providing a forum for industry thought leaders, innovators, adopters, and academics to collaborate, we have identified four priority opportunities to level-up productivity in the transport sector.
Developing AI solutions to tackle these use cases has the potential to create billions in value for the UK economy, whilst facilitating the transport industry’s transition to net zero.
If you want to drive change in the transport sector, you may want to start here…
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The Challenge
What innovators can offer
Firms across the transport industry struggle to accurately forecast demand and select routes that not only meet needs but also adapt to real-time disruptions. This obstacle prevents companies from improving service quality and reducing vehicle mileage.
A system that examines long and short-term demand trends, planned and unplanned disruptions, and a range of other factors to optimise routes effectively.
What industry says:
76% surveyed said this was likely or very likely to benefit the transport industry.
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The Challenge
What innovators can offer
Deciding when to step in for fleet maintenance is a dilemma facing all operators. Too often and unnecessarily, work is carried out, increasing waste, and raising costs. Too late, and unplanned failures can occur, leading to higher maintenance costs and longer vehicle downtime.
A system that deploys sensor, component, and usage data to accurately predict when maintenance is required, enabling operators to intervene at the appropriate moment, reducing costs, waste, and downtime.
What industry says:
82% of transport managers would be likely or very likely to purchase and use this solution.
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The Challenge
What innovators can offer
Understanding and predicting logistics and attribute needs are an essential requirement for strategic planning. Yet, vast quantities of data, lack of data standardisation, poor quality communication, complex supply chains, and unpredictable external factors can lead companies to make inaccurate decisions.
Systems that analyse data patterns and demand variation to optimise resource allocation and provide recommendations for capital investment to improve future demand fulfilment. Tools are required to track vehicle localisation and provide live updates on delivery time, decreasing delays.
What industry says:
The number 1 ranked use case for impact amongst surveyed transport managers.
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The Challenge
What innovators can offer
To effectively perform goods transportation, firms need to complete and manage vast quantities of paperwork, consuming significant amounts of both time and money.
A system that precisely extracts required asset data and automatically completes and manages all the necessary paperwork for transporting goods.
What industry says:
76% surveyed said this was likely or very likely to benefit the transport industry.
What are the takeaways?
Scaling up is the objective: While AI and ML research and development in the sector are quite advanced, practical solutions still tend to be exclusive to large corporations with large datasets from numerous sources. Innovators face the challenge of harnessing industry-wide data to create solutions that are accessible and affordable for small and medium-sized enterprises (SMEs), which constitute a significant percentage of all businesses.
Predicting the future for success: For the transport and logistics industries being able to predict demand, events, and requirements, across different timeframes is the key to enhancing productivity. Reactive optimisation, predictive interventions, and strategic planning are just a few areas in which innovators can leverage AI and ML to prevent inefficiency and transform the sector.
Need for speed: To excel in the transportation of goods, companies must continuously enhance their services, ensuring faster and more efficient deliveries than their competitors. This demand for timely delivery means that innovators need to not only perform better productivity but also highlight how it will positively impact delivery times when marketing their solutions to potential adopters.
So, what’s your next move?
- Explore: Take a look at the report and visit the BridgeAI programme page to discover how the programme can benefit you.
- Innovate: Dive deep into the use cases we’ve outlined or create your own. Your innovation could be the one that changes the game!
- Apply for funding: Don’t hesitate; the opportunity is knocking. Apply for the latest BridgeAI competition to receive up to £1.2 million for your project and turn your AI idea into reality.
- Subscribe: Stay updated with BridgeAI to make sure you don’t miss out on future opportunities!
Related programme
BridgeAI
Empowering UK organisations to harness the power of AI through support and funding, bridging the AI divide for a more productive UK.