KT Corporation has recently partnered with Singapore Post (SingPost), a state-operated postal and logistics service in Singapore. This collaboration, formalized through a memorandum of understanding (MOU), aims to leverage artificial intelligence (AI) to enhance efficiency in the logistics sector.
At the core of this partnership is the application of KT’s AI logistics platform, LISFO (Logistics Intelligence Suite for Freight Optimization). This advanced AI technology, specializing in digital tuning, has been instrumental in suggesting optimal transportation routes to enhance logistics efficiency.
The initial phase of the collaboration will involve the pilot program’s implementation, concentrating on optimizing digital logistics operations within seven distinct districts across Singapore.
Both KT and SingPost are expected to leverage the capabilities of LISFO to streamline transportation routes, strengthen logistics efficiency, and modernize their digital logistics infrastructure.
KT’s Logistics Intelligence Suite for Freight Optimization (LIS’FO) relies on AI-powered algorithms to make data-driven predictions and calculations for the most efficient transportation routes and loading configurations.
KT conducted an in-depth analysis of Singapore Post’s transportation data before entering the partnership plans. Initial assessments based on transportation metrics from SingPost indicate that implementing LIS’FO could lead to a remarkable 27% reduction in operational driving distance and a 15% decrease in the number of required operating vehicles.
With this collaboration, SingPost plans to effectively enhance transportation routes and control costs. Together, the two entities will employ KT’s AI-based prediction solution during planning to determine optimal travel routes and loading strategies, driving logistics optimization.
KT’s AI prediction solution has been custom-tailored to align with the unique characteristics of SingPost’s logistics operations and Singapore’s specific local logistics environment. It considers multifaceted variables such as customer locations, Singapore Post’s logistics centers, cargo volumes, vehicle types, real-time traffic data, and the precise criteria governing cargo vehicle arrivals and departures.
“We will build upon this business collaboration to AIextend our scope of DX cooperation, going beyond transportation optimization. Our goal is to attract a broader customer base in the global market and establish ourselves as a prominent player in the global digital logistics market,” expressed Choi Kang-rim, Head of KT’s AI Mobility Business Unit.
Read more from KoreaTechDaily:
- Hyundai Elevator Collaborates with KT and LG Electronics to Boost Robot-Elevator Linkage Business
- KT Partners with HFR on Private 5G Deployment
- KT to Invest $5.4 Billion in AI Services by 2027 to focus on Robotics, Healthcare, and Education
- Hyundai Glovis Expands Smart Logistics Portfolio Through Altiall Acquisition
- Top 8 Collaborative Initiatives Fostering Innovation Among South Korea’s Tech Giants