Comments
Shipwaves, a start up has developed a digital freight and logistics management platform with Artificial Intelligence (AI) and Machine Learning (ML) technologies to provide real-time solutions to shippers and consignees.
Launched in 2015, Shipwaves leverages proprietary algorithms based on machine learning, Artificial Intelligence technologies on its platform to manage shipping operations to minimise complexities of global trade. “Some of our differentiated solutions include, price discovery of logistics costs through its price engine enabled rates calculators, a global tracking solution of the containers, ERP and logistics partner integration that will enable act as a single dashboard for all the parties involved,” said Abid Ali, Co-Founder and Mentor, Shipwaves.
It gives shippers the ability to predict, prevent and take actions on the obstacles they face with regard to their shipments,” added Sajid Mohammed, Chief Operating Officer of Shipwaves.
Shipwaves plans to launch several other solutions as part of its growth plans. Kapil Khandelwal, Director EquNev Capital and VC investor pointed out that this is a part of the company’s effort to leverage Digital India initiatives in the trade and commerce sectors. “The recent ‘AI for All’ strategy launched by Niti Aayog also provides a big impetus for leveraging data for our AI-based platform being developed to enable global trade from India.”
Over 90 per cent of global trade goes on sea freight as it is one of the cheapest mode of transportation. To handle this movement of goods, there are a number of players involved. These include the shipper, trucking fleet operators, the warehousing providers, port handling providers, shipping lines that operate the ships and similar players at the other end of the consignee port. While shippers and consignees globally are demanding streamlining and simplifying the shipping process. Issues such as visibility against delays, frauds and shipping delays, trade wars and tariffs still persist. Google Ventures funded Flexport is one such start up out of the US, which has achieved a Unicorn status. The digital logistics market is worth $12.96 billion by 2019, according to data.
Till date, it has managed over 10,000 TEUs or Twenty-foot Equivalent Unit of container freight for its clients.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.