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cryptocurrency March 8, 2018

Samsung SDS is looking to capitalize on investments and research into emerging technologies by upgrading its smart logistics platform to include blockchain and artificial intelligence.

At a press conference in South Korea today, Samsung SDS CEO Hong Won-pyo detailed recent upgrades to its smart logistics platform, Cello, an optimization software tool that has applications for supply chain planning, transportation systems, and warehouse management.

Hong highlighted improved logistical efficiencies brought on by the firm’s proprietary artificial intelligence algorithms, which have been working in concert with blockchain integrations in Cello for the past few years. The deliverables for businesses purportedly revolve around “systemized demand projections” and guided “inventory planning.”

“For (new, emerging) technologies like blockchain, the most important task is creating many real-life use cases proving their utility and value,” said Hong. “Blockchain technology itself is open-sourced. But it becomes useful only when it is combined with the right functions to serve a particular [purpose] in a particular industry. And I believe this is not something all companies can do.”

Samsung SDS first launched Cello in 2012 as a contract service provider to another Samsung subsidiary, Samsung Electronics, and has since been expanding into emerging technology via strategic investment as well as research and development. Cello’s previous endeavors include forays into food inventory management and international shipping procedures.

Per the Korean Herald, Samsung SDS is expecting to handle roughly “488,000 tons of air cargo and 1.07 million units of twenty-foot equivalent ship cargo” this year, solidifying its business as one of the world’s largest logistics firms by shipment volume.

Jordan Daniell is a full-time staff writer for ETHNews with a passionate interest in techno-social developments and cultural evolution. Jordan enjoys the outdoors, especially astronomy, and likes to play the bag pipes and explore southern California on foot in his spare time. Jordan lives in Los Angeles and holds value in Ether.

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Source: ETHNews