GNAI Visual Synopsis: Illustration of a network of interconnected supply chain nodes with data flowing between them, representing the integration of AI technology in optimizing supply chain operations.
One-Sentence Summary
The Business Research Company predicts the artificial intelligence in supply chain market to expand from $2.29 billion in 2022 to $3.39 billion in 2023, aiming for $15.07 billion by 2027, boasting an outstanding CAGR of 45.2%. Read The Full Article
Key Points
- 1. The artificial intelligence in supply chain market is expected to grow from $2.29 billion in 2022 to $3.39 billion in 2023, with a CAGR of 47.9%, and is anticipated to reach $15.07 billion by 2027 at a CAGR of 45.2%.
- 2. Increased internet penetration has driven the use of AI in supply chain operations, allowing businesses to improve inventory management, monitor warehouse activities, and forecast consumer demand patterns.
- 3. Major players in the industry include Amazon.com Inc., Google LLC, Samsung Electronics Co Ltd., and Microsoft Corporation, with technological advancements such as project44’s Movement GPT and Panasonic Corporation’s acquisition of Blue Yonder amplifying AI integration in supply chain solutions.
Key Insight
The surge in internet usage has transformed information accessibility within supply chains, intensifying the adoption of AI to enhance operational efficiency and meet consumer demands effectively.
Why This Matters
The projected growth of the AI in supply chain market reflects the increasing reliance on technology to optimize supply chain operations, which has implications for businesses across various sectors, from retail to healthcare, aiming to stay competitive and responsive to consumer needs in a rapidly evolving landscape.
Notable Quote
“The widespread access to the internet is driving the adoption of AI in supply chain operations, enabling businesses to enhance inventory management, monitor warehouse activity, and predict consumer demand patterns using artificial intelligence.” (Source: Globe Newswire).
