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JLR taps Everstream Analytics’ AI to dodge supply chain problems
Global Banking & Finance Review®
Company
By Nick Carey
LONDON (Reuters) – JLR said on Monday it has partnered with supply chain mapping and risk analytics firm Everstream Analytics, which will embed artificial intelligence into the British luxury carmaker’s system to help avert future global supply issues.
The new AI technology, JLR said, will allow it to monitor its supply chain in real-time and protect the production of its current models and next generation of electric vehicles (EVs).
JLR, a unit of India’s Tata Motors said Everstream’s technology has already enabled it to avoid disruption at global freight ports to deliver vehicles to clients.
“Through our collaboration with Everstream Analytics, we are harnessing the power of AI to proactively manage risks before they cause disruption to production,” JLR’s executive director for industrial operations Barbara Bergmeier said in a statement.
It said the technology uses a combination of AI, predictive analytics, machine-learning and human intuition to plot emerging incidents, such as natural disasters, strikes, data breaches and export issues on a global map.
In a post-pandemic world full of supply chain snarls, a growing group of startups and established logistics firms have created a multi-billion dollar industry to apply AI and machine learning to help businesses minimise disruption.
JLR was hit particularly hard by a global shortage of semiconductor chips that forced major carmakers to curtail production of certain models.
The carmaker has returned to profitability in the last two quarters and in the most recent quarter accounted for two thirds of Tata’s total revenue.
(Reporting By Nick Carey; editing by Barbara Lewis)
Artificial intelligence (AI) refers to the simulation of human intelligence in machines programmed to think and learn like humans. It is used in various applications, including supply chain management and risk analytics.
Electric vehicles (EVs) are cars that are powered by electricity instead of gasoline or diesel. They use electric motors and batteries to operate, offering a more sustainable alternative to traditional vehicles.
Predictive analytics involves using statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. It is widely used in risk management and supply chain optimization.
Risk management is the process of identifying, assessing, and controlling threats to an organization's capital and earnings. It includes strategies to minimize the impact of risks on business operations.
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