SCALE AI announces a major financing round in artificial intelligence: $50 million to support 12 new projects
Summary
"In response to the continued digital transformation of the financial services sector, Flybits, TD Bank Group, mimik, and Toronto Metropolitan University, along with a consortium of ventures and institutions, are developing a data ecosystem and a predictive solution to help businesses overcome current and future supply chain disruptions and crises. Leveraging a unique privacy-preserved data access protocol along with a number of advanced AI and machine learning-based inference capabilities, the program can help improve insights sharing and drive efficiency, revenue, and cost savings for business ecosystems. The project aims to maximize the offer by optimizing two essential parts of the Simplex supply chain: inventory, by predicting the availability and dispatch needed, and transport, by estimating the likelihood of success of each pick-up, delivery, or transfer within a queue of potential activities. The overall goal of this initiative is to use data inputs that are readily available in disparate systems and use advanced AI techniques to solve three of the most pressing bottlenecks in the building materials supply chain: accurately foreacsting demand, maximizing truck loads, and optimizing warehouse layouts. Darren Edery, CEO, Adastra: "By using AI to enable data-driven decisions on these critical elements of Taigas supply chain there will be a direct impact on the consumer in the form of more accurate inventory information, lower costs, and a wider selection of products.
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