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Soft pricing. Unpredictable costs. Threats of fraud and cybercrime. Freight shippers, brokers and carriers are shifting tactics and accelerating the use of market data and artificial intelligence (AI)-driven analytics as they grapple with a shifting business landscape, according to new data from DAT Freight & Analytics.
“There will be more freight-related data than ever in 2024,” says DAT president and CEO Satish Maripuri. “Advanced analytics can crack the code on what those millions of data points will mean for your business in the year ahead. Shippers, brokers and carriers should prepare for an AI revolution and learn what separates breakthrough value from just marketing slogans.”
Key takeaways:
- Shippers are using a more dynamic approach to procurement by mixing contract, dedicated and spot-market capacity.
- The expanding role that freight brokers are playing in shippers’ strategic planning.
- The unconsidered risk of poor data quality and insufficient data-science support on transportation operations.
- How business conditions in the coming year will test carriers’ ability to forecast demand and negotiate rates.
- Why the expanding scope of AI and machine learning will reduce risk in the supply chain, whether it’s for assessing partners or pricing truckload services.
