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Writer's pictureTeam CargoTalk

Freight invoice value surpasses US$ 10bn with AI learning: Raft



Raft has announced several key milestones that highlight the growth and maturity of its logistics AI platform. As a byproduct of Raft’s AI horsepower, the value of freight invoices being processed by Raft AI recently surpassed US$10 billion. “We are on a mission to unleash AI on global logistics and put an end to manual, disconnected processes,” said James Coombes, CEO and Co-founder, Raft. The internet serves as the knowledge source for the public AI innovation examples that have captured the world’s attention. However, the internet is not a viable AI learning source in complex business sectors such as global logistics where specialised processes vary by company. In a private supply chain environment, high volumes of real world, hard-to-get transactional data is a component towards ensuring AI-enabled automation learns and executes with precision and scale. Raft is the world’s largest AI-powered logistics platform, used by 50 logistics providers that help run 80 percent of the global 1,000 supply chains. Each year, 10,000 users manage over five million shipments on the platform, representing every commodity, transit mode, and trade lane.

 

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