MINERVA BC NEWMAN
CEBU CITY — Aboitiz Data Innovation (ADI) and Shiptek Solutions Corporation (Shiptek), a Philippine-based software development company forged a partnership to further drive the operationalization of Data Science and Artificial Intelligence (DSAI) in the logistics industry transforming it with next-gen technologies.
The logistics and supply chain industry has been immensely disrupted throughout the pandemic affecting micro, small and medium-sized enterprises (MSMEs) and as economies and businesses begin to adjust to the changes, support from financial institutions and governments remain a key driver to the industry’s success.
According to ADI that while many agree that financing of both logistics fees and export import of goods will help alleviate the problems logistics MSMEs are facing, businesses will need to find a sustainable long-term solution to tackle these challenges.
ADI’s mission in helping businesses maximize the use of data and operationalize DSAI has seen successful use cases across the banking and financial services sectors, including alternative credit scoring for MSMEs.
The new partnership would leverage the industry’s digital platform XLOG to develop innovative DSAI solutions with the combine expertise of both companies.
“XLOG has a solid foundation in place to help enable the logistics and shipping industries to manage and monitor transactions online. By leveraging the data we have on hand, we believe this strategic collaboration with ADI will help stakeholders such as importers, exporters, forwarders, and trucking operators have the proper resources and financial support in place to drive success,” Shiptek Chief Operations Officer Joey Ynion explained.
The collaborative project pipeline is designed to revolutionize the logistics industry to steer accelerated industry growth, improve financial sustainability in the supply chain, increase operational efficiency, and combat illegal transactions such as fraud and smuggling.
ADI Managing Director Dr. David Hardoon believed that the work they do at ADI demonstrates how implementing DSAI solutions have the power to make life easier and better for all.
“We have all seen the positive impacts alternative credit scoring has had and continues to have on MSMEs – increasing financial sustainability and providing greater financial support to those in need. Soon the stakeholders in the logistics industry will also begin to see the same results,”. Hardoon added.
Not only does this joint venture help streamline access to finance for MSMEs and combat illegal transactions for a traditional industry like shipping and logistics, it also aims to pave the way for other industries to follow in leveraging next-gen technologies like blockchain and AI to unlock endless possibilities, ADI said.
ADI and Shiptek signed the Memorandum of Understanding (MOU) during the inaugural UnionBank Innovation Festival last September 7 to 9 at the UnionBank Innovation Campus in Laguna, Philippines.