Picture Credit: openup-h2020.eu
As a result of its Horizon 2020 application, Transmetrics won the first phase and received a grant from the European Commission. The project scored 14.32 out of 15.00 total points with a 13.00 threshold. It was evaluated as excellent by all 3 criteria – The Impact (4.75/5), The Excellence (4.75/5) and Quality & Efficiency of Implementation (4.85/5).
The project proposal by Transmetrics is called “PrEDICTS” and it presented a cargo optimization software based on AI and machine learning. The software takes logistics company’s historical data, cleanses and enriches it and optimizes operational performance based on the forecasts of future shipping volumes. It also identifies future excess capacity and suggests strategies on how to improve the capacity utilization. One of the project’s beta clients recorded a 10% increase in capacity utilization and 7-9% cost savings (French Post / DPD).
“EU trucks are driving around with an average of 43% empty space due to poor linehaul capacity utilization in groupage parcel and pallet networks. This leads to important CO2 emissions, congestions, traffic jams, noise levels and low margins for logistics companies. The underlying problem is a data quality issue as shipments are planned based on weight whilst they actually fill up based on volume and dimensions.” – Transmetrics points out in its application statement, describing the problem PrEDICTS is tackling.
With PrEDICTS, Transmetrics targets the top 20,000 transporters that account for 40% of the total industry. These transport companies will need to harness advanced analytics and modern technology in order to stay competitive. PrEDICTS competes with two major incumbents and another innovator. However, it is the only solution that integrates prediction and optimization in the process and features AI-driven data cleansing and enrichment.
About Horizon 2020
Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available over 7 years (2014 to 2020) aimed at securing Europe’s global competitiveness. It promises more breakthroughs, discoveries, and world-firsts by taking great ideas from the lab to the market. By coupling research and innovation, Horizon 2020 is helping to achieve this with its emphasis on excellent science, industrial leadership and tackling societal challenges. The goal is to ensure Europe produces world-class science, removes barriers to innovation and makes it easier for the public and private sectors to work together in delivering innovation.