Samsung SDS , the IT solutions and logistics service arm of South Korea’s Samsung Group, will apply new information technology (IT) technologies, such as big data, artificial intelligence (AI), Internet of Things (IoT) and blockchain, to logistics solutions in order to provide differentiated logistics services.
At a media conference for smart logistics in Pangyo, Gyeonggi Province, on March 8, the company announced to expand its AI and blockchain-based smart logistics business. For smart logistics services, Samsung SDS applied big data, AI, IoT and blockchain technologies to its existing logistics platform. Based on the new service, retailers are expected to manage inventory efficiently with more accurate demand forecast. In the past, most retailers weren’t able to secure enough inventories due to limited spaces and inventory operation costs.
When salespeople predict demand, accuracy vary depending on variables. Samsung SDS uses a solution that is equipped with the Brightics AI technology in 500 retail shops in Germany and Austria. The AI solution factored in 39 variables, such as sale promotions, weather, demographics, age and the average earnings of residents. As a result, it was 25 to 28 percent points more accurate than the salespeople were.
By utilizing the blockchain technology, which prevents data from being forged or manipulated, Samsung SDS will be able to provide trusted services for participants in the food processing, logistics process and supply chain. The new platform enables businesses and consumers to share enough information and apply to any industries. Samsung SDS said it will make use of new technologies, including blockchain, AI, IoT and big data, to logistics business in the e-commerce sector in its bid to aggressively push into the global market.