In a bid to enhance performance and operational business excellence, leading logistics service provider, Spoton Logistics is planning to deploy Artificial Intelligence (AI) based video analytics solutions in one of its largest hubs. The AI-based system assists by adding intelligence to the CCTV camera by identifying abnormal events, analysing video feeds and sending automated alerts in real-time.
The installation of CCTV cameras at various logistics hubs and the wide use of digital technology has always helped the company collect data at every checkpoint and provide end-to-end real-time visibility to all the stakeholders. Innovative technology coupled with AI is now proving to be a game changer for the logistics industry.
Talking about the advantages, amidst COVID-19, the AI-based video analytics system is capable of detecting distances between individuals and alerting in case social distancing norms are not being followed. The algorithm also helps identify a person not wearing a mask where he/she should, thus helping in better implementation of the safety protocols.
The use of this solution in supply chain management has helped evoke transparency throughout the process and has provided business intelligence so as to prevent Theft, Pilferage, Damage, etc, thereby minimizing the risk of disruption at any point in the supply chain.
Abhik Mitra, Managing Director & CEO, Spoton Logistics said, “COVID-19 has had an indelible impact on businesses. It is, thus, of the highest priority for businesses to optimise their costs and increase efficiency. Almost two-thirds of the logistics costs are hidden, which is attributable to theft and pilferage of cargo, and holding of inventory. AI helps address this in an effective manner by automating processes and providing real-time visibility and alerts so that corrective measures can be taken. Being a technology and engineering driven company has always helped us stay ahead of the curve. Moving ahead with the same vigor, we will continue to invest in technology and automation such as last-mile delivery management, interactive chatbots, and IoT.”
Rajesh Kapase, IT Director, Spoton Logistics said, “Industry experts predict that digital transformation of the logistics sector could translate into a value of $1.5 trillion for players in the logistics sector and an additional $2.4 trillion worth of societal benefits by 2025. AI is indeed a powerful tool that can potentially unravel the critical challenges and inefficiencies in the logistics space. We have dedicated our resources to invest heavily in technology and will continue to explore ways in which it can complement our teams’ efforts and further increase their productivity.”