If you’re thinking about increasing your use of technology and software this year, then you’re not alone. Gartner says that “In 2023, nearly 70% of small and midsize businesses plan to spend more than last year on technology and software.” In fact, growing businesses are planning to invest in new digital initiatives to drive operational efficiency and stay ahead of their competitors.
In the transport and fleet industry, businesses are increasingly focused on innovation in their planning and are more open to new technologies; as such, transport and logistics technology are on track for strong growth in 2023 and beyond. A recent report published by MarketsandMarkets notes that the global fleet management market is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.5 per cent, from AUD 38.14 billion in 2022 to almost double at AUD 78.38 billion by 2027.
Artificial Intelligence (AI) in transport
AI-powered tech strongly relies on massive amounts of data, which is business intelligence that AI can instantly analyse and interpret to provide insights. Businesses go through an enormous amount of data each day, whether manually entered in spreadsheets or collected through technology. The ORCODA Logistics Management System (OLMS) incorporates AI and Machine Learning (ML) which collects and interprets important data (ie transport time and distance, volume, weight, etc) to power its intelligent decision making, whilst ensuring client data is protected.
Leaders across transport, fleet and local government already recognise the value of AI to identify inefficiencies and drive decision-making, and it’s set to continue changing the way businesses that operate fleets of vehicles. By 2030, it’s expected that AI could add a whopping $13 trillion to global economic output.
OLMS-allows businesses to streamline processes, predict trends, and gain real-time transport insights through its use of AI and ML, whilst protecting sensitive client data. Our clients use OLMS to help their drivers boost productivity and improve on-road behaviour while better supporting health and safety.
A driver safety focus
Transport companies and fleet managers maintain a growing concern for safety, and for good reason. May 2022 BudgetDirect survey discovered that:
- Nearly a third (30.1 per cent) of Australian respondents have experienced a microsleep or a fatigued moment they couldn’t remember while driving,
- 4 per cent had driven for more than six hours without taking a break; and
- 76 per cent who had experienced a microsleep also thought that driving while highly fatigued was the most dangerous state to drive in.
Prioritising driver safety in the transport industry requires the adoption of smart technology. In 2023, there will be an increased focus from transport operators on how technology can improve driver safety and be used to improve existing safety programs and initiatives.
What are the top priorities for buying software?
According to Gartner’s survey of 1500 businesses looking to buy software this year, the top priorities are cybersecurity (42%), ease of use (38%), features and functionality of software (37%), cost (37%) and integration with other platforms (37%). ORCODA Ensures that its clients data is kept safe and secure and complies with privacy regulations, which is a top priority for software buyers. Our integrated smart technology solutions meet international cybersecurity standards and offer easy to use interfaces with single click automation and drag and drop functionality.
This will be a big year for ORCODA as we continue to drive innovation – so that our clients can thrive in this increasingly digitised world.