Loadsmart Introduces FreightIntel AI: A Game-Changing Freight Analytics Solution

Loadsmart Introduces FreightIntel AI

Loadsmart, a leader in next-generation logistics solutions, has announced the launch of FreightIntel AI (FI.AI), a cutting-edge freight analytics and intelligence tool designed to provide shippers with immediate, actionable transportation insights. FI.AI uses advanced machine learning and artificial intelligence to uncover cost savings and optimization opportunities from raw transportation data, making it easier for shippers to streamline their logistics operations.

Unveiling FreightIntel AI

FreightIntel AI functions like a seasoned logistics analyst, capable of generating insights without the need for manual direction. By leveraging a company’s own logistics data along with Loadsmart’s extensive benchmarking dataset, FI.AI uses AI technology to deliver customized observations and recommendations tailored to individual business needs. Shippers can simply input their data to receive immediate insights, allowing them to bypass the lengthy data analysis process traditionally required.

This innovative tool incorporates large language model (LLM) technology, enabling users to interact with the AI in plain English to refine insights further. FI.AI aims to replace cumbersome dashboard analyses with faster, more frequent, and intuitive evaluations, helping shippers spot saving opportunities and address service-related issues with ease.

How FreightIntel AI Works

FreightIntel AI can be integrated directly with existing data sources or used as a standalone platform where data can be uploaded manually. The system sifts through complex datasets to highlight actionable optimization opportunities, such as:

• Identifying clusters of shipments with above-market rates by carrier, lane, or region
• Pinpointing high accessorial costs linked to specific carriers, lanes, origins, or destinations
• Spotting backhaul opportunities and unusual load distributions across carriers
• Recognizing lanes, regions, or carriers with poor on-time delivery (OTD) or on-time performance (OTP)
• Highlighting opportunities to switch from spot to contract freight, or vice versa, based on volume and market forecasts
• Suggesting full truckload (FTL) consolidation opportunities and potential facility relocations
• Recommending mode optimization, such as shifting from FTL to intermodal (IMDL) or less-than-truckload (LTL)
• Improving routing guides and addressing transit time and lead time issues

Users can drill down into each insight through a conversational interface to explore detailed information and recommendations. FI.AI is also embedded into ShipperGuide TMS, providing seamless integration for freight planning, procurement, execution, settlement, reporting, and now, advanced analysis.

Benefits of FreightIntel AI

FreightIntel AI offers an unbiased, immediate evaluation of freight spend, with potential transportation cost reductions ranging from 3% to 15%, depending on the company. Additionally, it can optimize internal labor by 10% to 20% by automating and simplifying the analysis process.

Is FreightIntel AI Right for Your Business?

FreightIntel AI is ideal for:

• Large shippers struggling to identify optimization opportunities without extensive analyst resources
• Organizations that want to conduct ongoing optimization and cost-saving projects throughout the year
• Companies using legacy TMS systems with complex data reporting and a need for clearer, actionable insights
• Businesses relying on managed transportation or 3PL/4PL providers and seeking to ensure comprehensive optimization
• Firms with M&A strategies focused on identifying cost-saving opportunities quickly and efficiently
• Mid-sized shippers with limited access to analysts or BI resources seeking to improve cost reduction and service levels
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Join the FreightIntel AI Webinar

Loadsmart invites you to a live webinar on Thursday, October 17, 2024, from 2:00 - 2:45 PM CST (3:00 - 3:45 PM EST) to see FreightIntel AI in action. Experts will demonstrate the platform and answer questions about how this innovative solution can revolutionize your logistics strategy. Register for the Webinar.

Can’t wait? Watch a short demo of the solution here.

About Loadsmart

Loadsmart provides logistics solutions that combine industry expertise with next-generation technology to lower costs, enhance efficiency, and digitize transportation processes. From planning and optimization to execution and audit capabilities, Loadsmart empowers businesses to move more with less. For more information, visit Loadsmart.