VANCOUVER, British Columbia - Nov. 4, 2020 - We've seen it before–technological advancement brought on suddenly through a process of system improvement–but, this time, it's catalyzed by a global health crisis. Canadian transportation and logistics companies have experienced dramatic changes due to the accelerated growth of e-commerce during the COVID-19 pandemic, increasing the importance of quick and reliable last-mile delivery and creating new opportunities for third-party logistics companies all the time. The Artificial Intelligence features of CLS fit well into this new demand, for example, by allowing route and freight optimization based on real-time environmental, traffic, and other geospatial vehicle data.
It's fair to mention that e-commerce was already helping to power growth for third-party logistics companies way before the crisis began. Based on the data provided by IBISWorld, local delivery services in Canada are predicted to rise to a market cap of CA$14.3 billion by 2024.
As shipping volumes grow and the "Amazon" effect occurs, Canadian multimodal cargo companies face increasing pressure to meet customers' rising expectations around shipment speed and transparency. But capacity limitations make it challenging for companies to address these difficulties using traditional forms of equity-based on financial, human, and natural capital.
As competition intensifies, multimodal cargo companies need to embrace new forms of equity—including behavioral, cognitive, and network capital—to improve service, control costs, increase productivity, and meet customer expectations both in B2B and B2C environments.
About CLS Technologies Corp.: Located in Vancouver, BC, CLS Technologies is a Vancouver based Artificial Intelligence (AI) and Mobile Platform Development Company. CLS will develop a portfolio of products, including MoveIT Logistics Solutions, our scalable, Innovative Real-Time logistical solution to assist the International Trade industry in overcoming their most immense challenges. For more information, please visit www.moveit.ltd
