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On Sept. 11, KT Corp. and Singapore Post Limited (SingPost) unveiled a new business partnership, inking a memorandum of understanding (MOU) to advance an AI-driven digital logistics model. Aimed at bolstering logistics capabilities with AI, the collaboration is anticipated to streamline transportation processes and invigorate the e-commerce logistics sector.
Through the cooperation, SingPost will use KT Corporation's logistics platform, the Logistics Intelligence Suite for Fleet Optimization (LIS'FO). This will be utilized by the state-run postal firm and logistics service provider in seven domestic territories, as per The Korea Economic Daily.
Moreover, the deal is aimed at improving logistics capabilities using artificial intelligence. Initially, KT Corp. and SingPost will focus on piloting the digital logistics transportation program in specific regions in Singapore.
Under the MOU, the partners will initiate the program using KT's LIS'FO AI-based delivery platform. The application of the said logistics program is expected to modernize and make transportation and logistics operations more efficient.
Based on the data analysis from the trial, the LIS'FO reduced SingPost's operational driving distance by as much as 27%. Plus, the number of vehicles required for the operation also decreased by 15%.
SingPost's vice president, Eric Yeo, commented on the partnership by saying, "SingPost manages a vast scope of logistics big data annually. Based on this, we foresee unlimited opportunities for a successful, collaborative paradigm with KT in Singapore."
SingPost provides local and international postal and logistics services in Singapore, and signing a MOU with KT Corp. is part of its efforts to augment its competitiveness in the field of e-commerce logistics. It also expects this collaboration to help the postal organization promote the logistics sector's digital transformation.
Finally, Business Korea also quoted KT AI's Mobility Unit's executive director, Choi Kang Lim, as saying, "Based on this project collaboration, we plan to continuously expand areas of DX cooperation beyond transport optimization."
Photo by: KT Corp. Website
