Technological innovations have improved every aspect of our lives – ranging from transportation to communication – with no signs of slowing down. Indeed, the fast-paced advancements continue to progress and we are trending towards a future wherein technology has permeated every industry in smart cities across the globe. Cities are more intelligent and efficient, now that technology is seamlessly incorporated in many of the things that we do on a daily basis. And while many of us have benefited from these changes, how much more can technology do for the betterment of humankind?
If we are to attempt to answer this question, we should examine the current state of the world. The Covid-19 pandemic has caused the world to screech to a halt. The Atlantic's article highlights how the virus has exposed a major flaw in the system — how an over-reliance on outsourcing has crippled global supply chains, now that outsourcing has stalled. Technological advancements often stem from problems that need to be remedied, so how then can we address this current issue? This article discusses on how smart cities can fundamentally transform supply chains.
Smart Cities and the Supply Chain
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As previously discussed in ‘Realising the ROI on You Smart City Investments’, smart city solutions often lend themselves to resolve the typical challenges faced by a city. This includes but is not limited to traffic congestion, pollution, floods, or crime. It would then make sense that smart cities can similarly have the potential to transform modern practices in supply chain management.
One way that this can be done is through the use of smart algorithms to improve supply chain systems. Assistant Professor Huanan Zhang from Penn State highlights how data can aid with warehouse inventory forecasting, optimising what a particular warehouse keeps in stock. This greatly improves upon the current system and saves precious space resources, as companies decide what to keep in their warehouses when they plan inventory as a network or warehouses, rather than based on the past records of each warehouse.
How 5G Can Streamline Processes
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Industry experts are all looking to 5G as an enabler to advance even smarter cities. ZDNet highlights how 5G is one of the keys to smart city development. Once 5G networks are complete and fully rolled out, physical connectivity will no longer be required to deliver data to mobile devices or any fixed device. This will be a game-changer for industries and businesses. Verizon Connect details how 5G could shape fleet technology, allowing companies to send and transfer unparalleled amounts of data, communicate and interact with data in real-time, and use this data to plot smarter routes. This could help optimise supply chain systems by significantly cutting down on travel time. Another area that will benefit with the development of 5G is the rapidly-growing space of Internet of Things (IoT), with sensors and actuators that will also improve supply chain responsiveness and resilience.
IoT will transform food logistics and supply chains, as it can help companies become more efficient by improving time to market, increasing customer satisfaction, and reducing spoilage. It can do this by using food tracking technology to better monitor food freshness metrics and assess transportation data to help transporters improve upon their services — cutting down on time and spoilage.
The Role of Artificial Intelligence
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Lastly, 5G and data analytics will certainly drive the widespread adoption of Artificial Intelligence (AI). AI can help intermediate between companies and customers. And while humans can do this as well, AI offers the potential of executing these functions more efficiently and without the risk of human error. Industry Week points out that it can do this through machine learning, by taking huge amounts of data and determining the most efficient way to do things in no time at all.
This doesn't mean completely removing humans from the equation. AI as a tool helps people identify their biases, and support more fact-based decision-making, as AI breaks down Big Data into digestible and easy to understand formats to aid in the decision-making process. This will finally free up human time to focus on more enjoyable, higher value-adding tasks such as creativity and human connection.
Guest post by Jino Brittie