Artificial Intelligence (AI) has been used in several end-use applications where companies operate without human supervision. The machinery and equipment which are AI-enabled can work effectively by acquiring human abilities. Supply chains in manufacturing are quickly adapting AI technologies as part of their digitisation strategies, and these factors enable artificial intelligence in the supply chain market to grow at a CAGR of 20.17% from 2021 to 2028.
According to the recently published report by Verified Market Research - Artificial Intelligence In Supply Chain Market by application, end-user and geography, the artificial intelligence in supply chain market size was valued at $ 4.8 billion in 2020 and is projected to reach $ 14.3 billion by 2028
IBM, Microsoft, Google, Amazon, Intel, Nvidia, Oracle, Samsung, LLamasoft, SAP, General Electric, Deutsche Post DHL and Xilinx.
The report said that as evolution is happening in technologies like AI, machine learning, and alike, new technologies are said to hold the potential to bring in disturbance and lead innovation inside these industries. AI has been equipped with computing techniques that support selecting large quantities of data from logistics and supply chain.
In the supply chain, AI helps organise and analyse data, allowing decision-making problems, ranging from logistics to warehousing. Such AI-enabled applications in the manufacturing industry are expected to improve efficiency and save time. The utilisation of computerised reasoning in supply chain management exhibited more subtleties with common sense models from Amazon and Amer Sports.
Amazon utilises computerised reasoning procedures for web-based shopping and has automated its warehouse. As the smart warehouses are more advanced in daily routine operations, Amazon has used AI to provide customers with better satisfaction. Likewise, Amer Sports is using machine learning successfully to improve the management and predictability of its supply chain. The automation process has taken a giant stride because of AI technologies, the report noted.
Courtesy: Verified Market Research. NB: Photo is representational; courtesy: IBM.