New-age Ideas Will Be Common Practice
On the company’s relevance a decade from now: The logistics industry is ripe for development and technological innovation. Assuming that we continue to be one of the dominant companies leading this innovation in the coming 10 years, we would certainly be one of the leading techno-logistics firms in the country.
On the future of the business: Logistics business in India has largely been isolated from any sort of technological development/penetration until now. We are already witnessing emphasis on technology and data driven approaches from leading companies in this sector. The pace of evolution in logistics businesses is going to catch up with the growth in technology in the coming decade.
On the importance of AI and blockchain to the business: New-age ideas such as AI and blockchain have already started shaping up. There already are a few startups that have started crystalising disruptive solutions based on these. In the coming years, some of these new-age ideas are going to become common practices in logistics.
On direct and indirect wealth creation: The way we would like to quantify this is in terms of time saved and money saved, both of which are directly proportional to high efficiency and low per unit cost. The potential of the entire logistics industry can’t even be estimated. But the fact that we are speaking about a $200-billion industry does provide an approximation to the scale of potential that is out there.
On employment opportunities: Yes, the technological innovations are taking out the redundancy in the domain significantly. Pen and paper is getting replaced by digital solutions, phone calls are being swapped by automations, status update is being replaced by live tracking and much more. But with all of this happening, what is important to note is that there is a shift in the nature of opportunities. With the task-oriented opportunities shrinking, we are also witnessing a growth in technology-rich domains within logistics.
