A few years ago, there was a time when technology in the cargo industry was limited to only matching shippers with drivers. It was just about a simple tool that conducts a few operations online to ease freight management.
“The logistics/trucking sector is followed by passenger ground (26%), shipping (17%), passenger air (14%), and railway (4%).”
However, the situation is not the same at the current time. Freight operations are becoming seamless with the involvement of various technologies like Machine Learning, Artificial Intelligence, the Internet of Things, and more.
You might have read it in the magazine or somewhere in the headlines about the implementations of Machine Learning and Artificial Intelligence in cargo management. And, how these technologies are revolutionizing the whole supply chain operations.
The fact is just by going through a small article in the magazines or headlines you cannot get in-depth knowledge on the working of the ML in the freight industry. It may not cover the major points like what Machine Learning is, how it is implemented, what are the benefits, and so on.
In this article, we have broken down all the aforementioned points into the concerned topics. Keep reading the article to know about everything included in the truckload freight industry with the involvement of Machine Learning.
Let’s begin with an overview on Machine Learning
A Brief on Machine Learning
Machine Learning – also known as ML excels at gathering and analyzing a lot of data, various working patterns, and taking a better decision with the help of the information.
Besides that, a part of machine learning is also called a model. The models are a pile of codes used to perform a set of operations or recognize the data for a specific pattern. Machine Learning works on the two primary aspects,
- With instruction created by the engineer
- By analyzing the data of their own
When both of them are combined, the abilities of Machine Learning are explored to a new level. Some similar combinations are made in freight operations for better management. Here we’ve mentioned the best implementations of Machine Learning in drop and hook trucking.
Top Ways That Shows Machine Learning is a Perfect Match for Freight Industry
ML comes with a few capabilities to outperform the operations that were done manually in the traditional; drop and hook trucking management. The five strengths of Machine Learning are given below.
The global logistics market is expected to grow at a CAGR of 3.48% from 2016 to 2022.
1. Gathers Colossal of Information
The freight industry comes with a gargantuan amount of data that can only be handled by Machine Learning.
If you think of the US alone, there are more than 400 million classes for 8 shipments. For each case, there c
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