From my brief stint in the logistics industry, I'd say it's entirely possible to automate back-office operations by the claimed rate of 2-3x. I find it hard to understand why the possibility of such improvement would cause a selloff.
Shares in trucking and logistics companies have plunged as the sector became the latest to be targeted by investors fearful that new artificial intelligence tools could slash demand.A new tool launched by Algorhythm Holdings, a former maker of in-car karaoke systems turned AI company with a market capitalisation of just $6m (£4.4m), sparked a sell-off on Thursday that made the logistics industry the latest victim of AI jitters that have already rocked listed companies operating in the software and real estate sectors.
The announcement about the performance capability of Algorhythm’s SemiCab platform, which it claimed was helping customers scale freight volumes by 300% to 400% without having to increase headcount, sparked an almost 30% surge in the company’s share price on Thursday.
However, the impac
... Show more...From my brief stint in the logistics industry, I'd say it's entirely possible to automate back-office operations by the claimed rate of 2-3x. I find it hard to understand why the possibility of such improvement would cause a selloff.
Shares in trucking and logistics companies have plunged as the sector became the latest to be targeted by investors fearful that new artificial intelligence tools could slash demand.A new tool launched by Algorhythm Holdings, a former maker of in-car karaoke systems turned AI company with a market capitalisation of just $6m (£4.4m), sparked a sell-off on Thursday that made the logistics industry the latest victim of AI jitters that have already rocked listed companies operating in the software and real estate sectors.
The announcement about the performance capability of Algorhythm’s SemiCab platform, which it claimed was helping customers scale freight volumes by 300% to 400% without having to increase headcount, sparked an almost 30% surge in the company’s share price on Thursday.
However, the impact of the announcement sent the Russell 3000 Trucking Index – which tracks shares in the US trucking sector – down 6.6% on Thursday, with CH Robinson Worldwide plunging 15% by the close of trading, having been down as much as 24%.
SemiCab platform by Algorhythm, previously considered a ‘penny stock’, sparks ‘category 5 paranoia’ across sector
Mark Sweney (The Guardian)
Gamma
in reply to Powderhorn • • •Because investors are some of the stupidest fuckers on the planet, and the automatic trading bots follow them
HobbitFoot
in reply to Gamma • • •Powderhorn
in reply to Gamma • • •I personally reduced trade-show receiving times by 75% per item by designing a Microsoft Form for warehouse employees to upload photos of shipping labels, where 10 lines of JS pulled all the relevant info from the sheet being populated by the form. This replaced hand-writing complex triplicate forms, allowed us to send reports before close of business, and the client was thrilled.
My boss absolutely hated the new workflow, as she couldn't read code and therefore didn't trust that my system worked, all client satisfaction to the contrary. Absolutely absurd.
And this before LLMs were a thing. "AI" is not doing significant automation that hasn't already been being done for decades.
DudeImMacGyver
in reply to Powderhorn • • •like this
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