Silicon Valley-based Roambee acquired cloud analytics firm Arnekt with expertise in data science, natural language processing (NLP), and artificial intelligence (AI). Roambee offers real-time, end-to-end supply chain visibility combining sensor data and non-sensor intelligence enabling enterprises to deliver shipments and assets on time, in full, and in top condition anywhere globally.
A recent McKinsey paper states that in some settings, AI-based approaches are expected to reduce product unavailability by up to 65 percent, transportation, warehousing and supply chain administration by 5 to 10 percent and 25 to 40 percent respectively, and overall inventory reductions of 20 to 50 percent. This ROI is higher when the capabilities of AI are applied on reliable visibility data gathered throughout the supply chain using sensors than just aggregating EDIs or carrier data.
Arnekt built a value creation analytics framework that can ingest disparate data at scale, process it with low latency, and predict the next action. This acquisition enables Roambee to scale and grow such offerings as the Swarm AI network analytics platform to help customers optimize their supply chain operations.
Arnekt offers an end-to-end solution for modeling structured and unstructured data using computer vision, NLP, AI, and ML. The company has developed and deployed cognitive artificial intelligence products for diverse customers in Japan, India and UK.
Original Source: PR Newswire