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AI In Supply Chain Market To Reach $15 Billion By 2027!

Monday, Nov 27 2023
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AI In Supply Chain Market To Reach $15 Billion By 2027! "A farmer\u2019s hands and his chains are among the most used, and beat up tools, as can you can find. They are strong, capable, and show signs of wear - but near impossible to break."

The Business Research Company's Artificial Intelligence In Supply Chain Global Market Report 2023 states that the market is expected to reach $15 billion by 2027 at a CAGR of 45%. The market is currently worth $2.29 billion and is projected to reach $3.39 billion in 2023. The growth of the market is driven by the increasing internet penetration, which has enabled businesses to use AI in their supply chain operations. Statistics Canada reported that internet usage among individuals aged 15 and older increased from 92% in 2020 to 95% in 2022.

AI in the supply chain has been a hot topic in recent years, and it is no surprise that the market is expected to grow substantially in the coming years. However, it is important to note that AI is still in its early stages, and there are still many challenges to overcome before it can be fully implemented. For example, AI algorithms need to be improved to ensure accuracy and reliability, and there must be a way to ensure data security. Additionally, AI requires a significant amount of data to be effective, and this data must be collected and stored securely.



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