Today’s highly sophisticated and evolving Artificial intelligence (AI)-driven tools and resources – including ones that leverage natural language processing like ChatGPT and Google’s new AI product Bard – are creating many new opportunities for organizations. However, the actual impact AI will have on transportation fleets in the areas of improved equipment asset management strategies, and operations such as maintenance and repair (M&R), remains to be seen.
Like many other leading-edge technology resources today, these advanced AI tools possess incredible promise. Still, executives need to understand the pros and cons of how far they can rely on such tools in their day-to-day operations.
These tools are increasingly being talked about because the transportation and supply chain industries have been buzzing about new-age resources like Open AI ChatGPT since it was initially released in November 2022. The Chat Generative Pre-Trained Transformer (ChatGPT) is still in its infancy stages, but the technology has caught the attention of executives because of its ability to generate rapid responses and detailed answers. What’s more, because the tools are driven by AI, they leverage human-like language during interaction.
ChatGPT promises to dramatically increase organizational visibility, build a baseline for strategies and plans, streamline internal and external communication, and effectively optimize end-to-end operations.
Three critical areas in running a corporate transportation fleet could see significant impacts with the continued growth of AI and ChatGPT – asset management, equipment finance, and M&R planning and operations.
As an example, when you ask ChatGPT why asset management is important for equipment finance it offers the following excerpts:
