Iron Sheepdog raises $10 million to expand its broker/contractor-focused trucking technology solutions.
“At its heart, Iron Sheepdog is a tool to help brokers as small business owners,” Iron Sheepdog CEO Mike Van Sickel said in a Monday (March 25) press release.
“Providing intermediaries with a technology platform that incentivizes carriers, reduces administrative burdens, and eases cash flow challenges allows intermediaries to better serve contractors and grow their businesses. It is now possible.”
The company uses GPS tracking, real-time analytics tools, digital ticketing, and automated invoicing and reporting to provide transparency and trust in a “traditionally disparate industry,” according to the release.
The company says the latest round of funding, led by SJF Ventures, will accelerate growth in new markets and leverage tools such as artificial intelligence (AI) to make the short-haul trucking industry safer and more efficient. It is said that it will be used to develop innovations aimed at.
PYMNTS explored the impact of AI and large-scale language models on the trucking industry in a recent conversation with Jaime Tabachnik, co-founder and CEO of Trucking FinTech Solvento.
“The most revolutionary advancement is that these models can understand our language. This has democratized the access and use of these advanced models by retail customers,” Tabaknik said. Masu.
This breakthrough has raised high expectations for AI in traditional industries such as trucking and the transportation sector, which have been slow to adopt new technologies.
“At the heart of AI is an optimization model, which tries to optimize a set of variables…and in the transportation space, where companies move goods from point A to point B, it is a context where AI can be very effective. We provide that,” Tabaknik said.
He told PYMNTS that AI can automate repetitive tasks, use data to make better decisions, streamline workflows and reduce costs. One of the key applications of AI is freight matching, where AI algorithms can be used to optimize carrier and shipper matches to drive more efficient and profitable operations.
PYMNTS also explores the adoption of AI in the trucking sector, in an interview with Yoav Amiel, Chief Information Officer at freight brokerage platform and third-party logistics company RXO said it is ready.
While larger companies with more resources have been at the forefront of AI adoption, the democratization of technology is breaking down barriers for small and medium-sized businesses.
“Long-haul trucking has much more scope for automation,” he said. “There is potential for more savings and efficiency gains, and it is easier to implement. Deploying AI and incorporating these engines can be more complex because short-haul trucking has higher implementation costs and tighter profit margins. There is a gender.”
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