IoT in the Freight Industry | FourKites' Himanshu Mehrotra | Internet of Things Podcast

Logistics & fulfilmentFourKites AI platformsavings of 1000000s of dollars for every one day reduction in safety stock

The AI uses real-time IoT signals and historical data to predict shipment arrival times, allowing customers to reduce safety stock levels and save millions of dollars.

“every time they even reduce one day of safety stock, it is a savings of 1000000s of dollars for them. So that's what they're that's an example of what they're doing with this information that they collect with the real-time IOT signals we provide to them.”

Logistics & fulfilmentFourKites smart forecasting

When IoT signals are lost due to poor connectivity, the AI forecasts the shipment's location and status based on past patterns until signals are restored.

“We actually stored that signal and then we have something called smart forecasting. So what that does is based on what's happened previously, we can start forecasting what will happen in the next part of the journey when we really are not getting signals.”

Running the companyFourKites Gen AI capabilities

The company launched generative AI tools that allow customers to ask natural language questions about shipments and performance without needing specialized training.

“we last year we launched our Gen AI capabilities … we used the newer Gen AI capabilities and we gave a platform to our customer's hand where they really don't have to learn anything, they can ask any questions regarding their shipments, past performance or anything, and then they can just simply get that answer.”