AI is Proving Its Value in Multiple Industries
April 16, 2019
Representatives from Microsoft, CargoSmart (Benny Tam, pictured second from right) and the telecommunications, banking, government, and manufacturing industries presented at Microsoft Taiwan AI Solution Day 2019
CargoSmart participated in the Microsoft AI Solution Day 2019 in Taipei, Taiwan on April 9, 2019. This year’s Microsoft AI Solution Day attracted more than 1,000 professionals to learn about AI’s potential to drive the growth of Taiwan’s overall industrial ecosystem.
Microsoft invited representatives from five major industries to share the value of introducing AI to their enterprises. CargoSmart, Far EasTone Telecommunications, KGI Bank, Water Conservancy Agency of Taiwan, and WiAdvance delivered speeches that explores how different businesses are adopting AI.
Benny Tam, product manager of CargoSmart, was one of the guest speakers at the event. Here are the AI integration experiences from the industry leaders:
- CargoSmart – Shipping
- Leveraging AI, CargoSmart helps ocean carriers process and analyze over 30 million vessel updates each month, saving significant operation costs and improving shipment agility by identifying potential risks in shipping processes. Through AI, CargoSmart is also able to develop predictive analytics based on vessel schedules and berth activities to help carriers optimize operations.
- Far EasTone – Telecommunications
- Actively promotes digital transformation throughout the company and is conducting comprehensive long-term and in-depth cooperation with Microsoft. Leverages Microsoft AI and domain knowledge to optimize business value.
- KGI Bank – Banking
- Uses AI in customer transaction records to improve corporate decision making, such as credit line assessments and reducing bad debt rates. It also established an AI team to facilitate the AI integration.
- Water Conservancy Agency, Ministry of Economic Affairs, Taiwan – Government
- Based on the Meteorological Bureau and the Disaster Prevention Center’s data, the agency leverages AI and machine learning techniques to estimate flooding times, shortening the estimation time from two hours to 30 minutes, which highly increases the preparation time to react to natural disasters.
- WiAdvance – Manufacturing
- Introduced AI in the manufacturing process, improving the production quality and efficiency. It helps the manufacturer to accurately detect extremely fine impurities and scratches on products and increases the accuracy from 50% to 90%.
CargoSmart will continue to leverage AI to shape the future of the shipping industry, mitigate operation risk, and improve the cost-effectiveness of operations.