AI-Based Approach To Make the Supply Chain More Sustainable
Modern times brought with it a plethora of technological disruptions. Each of these advancements leads to results so bewildering that once integrated with the daily processes of business operations, individuals are bound to experience incredulous outcomes. Out of these new developments the concept of artificial intelligence (AI), which upholds the progression of computer systems to an extent where it efficiently performs those jobs which require human intelligence, has left mankind in a state of sheer appreciation.
It is a well-established fact that for any production cycle to be rendered successful, a robust supply chain is a primary prerequisite. However, in today’s world, the complexities entailed by these systems have been on a significant rise, making it imperative to leverage the wonders of AI to make the supply-chains immersive, improved and hassle-free. A recent study by McKinsey reports an increase of 53 per cent in revenues and a decrease of 61 per cent in costs; with the application of AI in supply-chain systems.
Even with a worldwide pandemic into play which brought all the activities to a stand-still, the agriculture industry continued to thrive. The contribution of this sector to the Indian economy is so prized that it can be best understood with the help of a report published by IBEF, that suggests over 58 per cent of rural households depend on agriculture as their cardinal means of livelihood and the exports generating from this segment constitutes 10 per cent of the nation’s total.
Bearing these details in mind, it can be inferred that the presence of a technologically empowered supply-chain system, which is not only glitch-free but also sustainable, is a necessity for the growth of agricultural India. Here are some ways through which AI boosts these channels of distribution, processing, farming and retail, among others.
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