UPS, an American multinational package delivery and supply chain management company, is investing in Internet of Things (IoT) technology, Artificial Intelligence (AI) and advanced analytics to increase fuel efficiency and improve customer service to ensure that UPS remains the shipper of choice.
One way UPS explores new technologies is via its internal venture capital group UPS Ventures, which takes a minority stake in technology startups and actively partners with these companies to achieve technology goals for the UPS Smart Logistics Network.
UPS Ventures has recently made a minority investment in autonomous driving company TuSimple. Together, both companies are testing self-driving tractor trailers on a route in Arizona to determine whether the vehicles can improve service and efficiency in the UPS network.
The work with autonomous driving company TuSimple began with the goal of helping UPS better understand the requirements for Level 4 Autonomous trucking in its network. Throughout the ongoing tests, UPS has been providing truckloads of goods for TuSimple to carry on a North American Freight Forwarding route between Phoenix and Tucson, Arizona.
Founded in 2015, TuSimple is working to bring the first self-driving truck to market, to increase safety, decrease transportation costs and reduce carbon emissions. The company develops technology that will allow shipping companies to operate self-driving class 8 tractor-trailers – those that exceed 33,000 pounds and typically have three or more axles. UPS’s tests with TuSimple are part of an advanced technology evaluation for vehicles in the UPS Global Smart Logistics Network.
Source: Press Release