Singapore’s trucking industry has been suppressed by labor shortages, high operating costs and wasted travel. This is how artificial intelligence can help change this situation.
Efficiency should be everything about one of the busiest transportation centers in the world.
Until recently, however, the Haulier industry in Singapore was suppressed by labor shortages, high operating costs and wasted travel. As many as 35% of trucks leaving the port are empty, burning fuel and wasting resources.
The partnership between port operator PSA International and Dutch multinational technology solves this problem by leveraging artificial intelligence.
“One of the fundamental issues for such complex operations is efficiency. Our shared vision is to provide efficiency, reduce costs or downtime, where empty containers or empty trucks are available,” said Abhijit Sengupta, general manager of India Technology here in Southeast Asia and India.
With automation and real-time route optimization, air travel has been almost halved.
“Optetruck is a transportation management solution that involves trip planning, itinerary execution, and has been invoicing and billing,” said Sriram Ramanujam, vice president of digital products at PSA Southeast Asia.
More than 400 trucks have been boarded, accounting for nearly 20% of Singapore’s transportation market.
So, what does this mean for the future of logistics? Watch the full video to see how AI changes the way products move.
For information on the CNBC Converge Live event, which takes place in Singapore, March 12-13, 2025, please visit: www.cnbc.com/converge-live/
