FedEx has invested an undisclosed amount in artificial intelligence platform Vue.ai, a partnership aimed at creating a smarter supply chain by increasing the use of artificial intelligence in large enterprises. With the investment, Vue.ai seeks to build smarter supply chains and become a single, unified AI platform for large enterprises to “build the entire vertical integration stack relevant to their industry.” Vue.ai, a general-purpose platform from California-based Mad Street Den, provides hybrid applications that leverage AI and automation for businesses in retail and other industries. It is “focused on enriching and extracting the maximum value from data, letting AI decide which models to apply, when and by whom based on interactions with users,” according to a press release. “FedEx is committed to creating smart logistics for everyone, and this investment will help both companies achieve technological innovation for the benefit of customers around the world,” Kami Viswanathan, senior vice president of FedEx Middle East, Indian Subcontinent and Africa, said in a statement. The logistics giant invested in the platform through the FedEx Innovation Lab. The initiative is focused on providing early-stage funding to Indian startups, helping FedEx expand its digital capabilities globally, and enabling it to “curate a meaningful portfolio of partners,” according to a press release in May. FedEx is no stranger to exploring opportunities involving artificial intelligence in the supply chain. The company has a multi-year partnership with Microsoft to create logistics solutions using data and AI with the goal of making deliveries more efficient. Editor ✎Estella/ Disclaimer: This article is copyrighted and may not be reproduced without permission. |
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