Investors, no matter how successful, are forever seeking high-potential business opportunities and innovations; no one invests with the aim of losing money. This obvious approach, reflected in the 2019 venture funding statistics, reinforces what AiDock founders and funders already knew: the future is in AI.
According to the technology research and analysis company Thetius, in their Shiptech 2020 report, there were some fascinating trends in 2019, raising question marks and exclamation points for the future of shipping, freight forwarding and investments. “On the surface, 2019 was a record-breaking year for venture funding in the shipping industry with $1.14bn raised by startups and scale-ups building technology aimed at the maritime sector.”
Digitalization has already been a corporate drift for decades; as the world becomes smaller with the help of technology, and with the call to decrease the use of energy and other resources, to conserve the environment, industries are joining the digitalization parade. Albeit with some delay, the shipping world has also realized that it is time to, literally, get on board.
As the AiDock founders sought a state-of-the-art solution for HS classification challenges, the most sensible and best route seemed to be AI; this resulted in the creation of Cody, the AI HS classifying assistant. According to Shiptech 2020: “As the industry improves its ability to handle and share data, opportunities to embrace artificial intelligence and robotic process automation grow exponentially.”
Global digitalization has driven AI one step closer to full applications, with the possibility of speeding up the workflow, and removing the load from human employees, suggesting a form of brainstorming, and creating new-age teams: HR + AI.
“While AI can help improve decision making at sea and ashore, RPA [robotic process automation] makes it possible to scale operation without increasing the man-hours required” (Shiptech 2020).
AI’s world-changing effect is being acknowledged in many markets and in our everyday lives, and AI is vital to the supply-chain industry’s future.
AiDock’s founders and customs brokers know all too well, after years of supply-chain experience, that HS classification is one of the most challenging bottlenecks to resolve, since speed often impedes accuracy and vice versa. AiDock’s Cody is a life-changing team player in the customs clearance process. Cody takes the load off the employee, enabling brokers to serve more customers without hiring extra help. Cody assists with seasonal highs and lows while maintaining excellent quality service. It is the most accurate, and rapid, HS classifying assistant out there.
Today’s world is AI-oriented; make sure you put your money on the right (AI) horse.