Mobile, applications and artificial intelligence (AI) are disrupting urban transport. Coupled with the rise of the sharing economy where consumers prefer to hire or borrow as they need things rather than invest in outright ownership, there is huge potential for players in the transport space to revolutionise the way we get around.
The challenge is to efficiently integrate different means of transport and manage the massive quantities of data needed to make new types of transport a reality. This data needs to be turned into actionable insights, which makes management easier to operate and delivers a better user experience. As new models are developed, AI is playing an increasingly important role and is the key to simplifying complex transportation networks.
AI is already supporting the integration and optimisation of new models for transport. Uber has been immensely successful across the globe in disrupting the taxi market by utilising consumer data, Global Positioning Systems (GPS) and AI to tailor its services to users. This is only the beginning for AI in transport as other businesses begin to converge transportation networks and harness technology and data to innovate further in citywide transport.
A former Uber executive in China has recognised the potential of Bike Share Schemes and has raised millions of dollars in funding for his Bike Share start-up Mobike. The funding allows Mobike to create a Bike-Sharing network where users can lend bikes via an integrated app. Bikes offer an alternative to taxis and with a unique model can be used as a sustainable option to cover short distances.
The challenge is to deliver these new models seamlessly while keeping it simple when it comes to managing new schemes. AI has a role to play in utilising available data to remove this growing complexity and deliver real-time visibility and optimisation. It permits extremely large quantities of data to be made accessible and useful for people to make faster and more precise decisions. It is enabling workers to manage and use more data with better results.
Simplifying the management of transportation services is vital for growth and success. Using resource efficiently enables operators to maximise the potential of their service and give consumers the best possible experience. Operators need a service that can run smoothly and remain profitable while users want a service that simply delivers what they need when they need it – access to transport.
AI can be used to innovate and manage transportation systems globally. It will help operators to efficiently distribute and maintain their services, removing the pain from consumer travelling. AI will provide transport operators with data-driven recommendations to overcome complex challenges throughout their service, which can later be used to justify and inform decisions before implementation.
AI will be at the forefront of this immensely potential market, especially for new comers. Its capabilities should be recognised and embraced as a smart solution to helping facilitate and bring efficiency to the transportation services industry while improving city life and increasing the health and welfare of citizens.
We are at the very beginning of AI in transport and it will play a leading role in supporting new models and innovations as well as how we experience our cities.
Organisations in the transportation industry should consider how AI can help them to simplify their operations and manage market disruption. New intelligence is changing what transportation can be.
Author: Tom Nutley
Business Development Director
Stage Intelligence
www.stageintelligence.co.uk
