Mark Fontecchio is a research analyst for the Internet of Things channel of 451 Research, a technology research group within S&P Global Market Intelligence. He covers horizontal IoT technology, as well as focuses on the commercial transportation vertical, supply chain technology, and shipping and logistics. Before joining S&P Global Market Intelligence, Mark was the M&A research manager at 451 Research, where he helped direct the firm's coverage of technology mergers and acquisitions, and its M&A KnowledgeBase. Prior to joining 451 Research, he spent eight years at TechTarget, where he wrote and directed coverage on datacenters, data management and enterprise applications.
As the public sector updates legacy traffic infrastructure, AI-driven intelligent transportation system applications offer benefits in improving traffic efficiency, safety and sustainability. Edge-AI sensors, AI/ML algorithms and neural networks are among the AI offerings from ITS vendors.
The company sells vehicle- and asset-tracking telematics products to more than 50,000 customers. It continues to build out its already expansive partner ecosystem, and has rolled out new features around the transition to electric vehicles, managing carbon emissions and improving route optimization.
AI and machine learning are important technologies for supply chain digital transformation, according to respondents to our Supply Chain Digital Transformation Enterprise Survey 2024. While the promise is evident, it is crucial for these companies to know what problem they are looking to address before jumping into adoption.
The companies that move goods from origin to destination have become increasingly interested in using technology to enhance their sustainability. Previously, sustainability was more of a side benefit to the primary goal of saving money on fuel, a major expense.
Cautious of promises about technology, logistics service providers are now playing it safe with their digital transformation plans. Technology vendors looking to partner with them must be ready with proof points that investment in technology can bring new and increased revenue streams.
Artificial intelligence and machine learning bring significant promise to the sector, but foundational digital transformation use cases such as document digitization are the most popular. Additionally, it has become harder to secure funding for digital transformation budgets.
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