Flanders Innovation & Entrepreneurship (VLAIO) has agreed to fund a digitalisation venture to Shipnext, an online cargo platform, to strengthen the uptake of predictive analytics and AI in the supply chain. The project will use natural language processing, machine learning, big-data analysis and predictive analytics to create an algorithm for commodities such as steel, coal, chemicals and agricultural products. Shipnext will receive an initial grant of €400,000 (US$420,400) in the coming months, with further funding provided by VLAIO over the next five years. The project aims to develop a supply chain volatility forecast to help vessel owners, charterers and managers understand likely transport costs and anticipated demand for shipping assets.
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