Drones Could Soon Dominate the Delivery Market
The sky’s the limit for the drone industry. With dependence on drones gaining traction, “Retailers and their delivery partners are increasingly relying on advanced technology like artificial intelligence to help them manage orders and optimize delivery routes. Fulfillment centers run by robots, delivery by drones, and even autonomous delivery through self-driving automobiles could very well be the future,” as reported by Supply & Demand Chain Executive.
Walmart ((NYSE:WMT)) and Amazon.com ((NASDAQ:AMZN)), for example, are using drones for deliveries. For one, there’s a growing need – especially with the pandemic limiting in-person contact. Two, there’s a need for faster delivery systems worldwide with some folks demanding same day delivery and even next-hour services. “Drones now are at a place where I think that technology represents a huge opportunity,” says Tom Ward, Walmart’s senior vice president of consumer products, as quoted by CNBC.
That’s a Strong Catalyst for Drone Delivery Canada (TSXV:FLT)(OTC:TAKOF).
Drone Delivery Canada just provided an update on its plans to integrate Artificial Intelligence (AI) into its disruptive drone delivery solution. As part of the Company’s technology roadmap, it plans to integrate various aspects of AI into its solution, including the use of AI in leveraging: operational data collected by the Company’s FLYTE software as related to weather, air traffic patterns, and package delivery patterns; radar telemetry data; vehicular & marine traffic data; and battery / fuel consumption data.
AI can be applied to the broad range of data collected by the Company in order to optimize predictive real-time route planning, especially in emergency medical scenarios; for electric and gasoline fuel optimization; long-range and short-range Detect and Avoid (DAA) systems for commercial and residential deliveries; and multi-drone logistics traffic optimization.
“There are numerous applications for AI within our system to bring even greater benefits to our customers. As a global industry leader, using AI, machine learning and predictive analysis to push performance capabilities to the next level is part of our technology roadmap. Also, considering the volume of data obtained through our operations, this data can be monetized in the future to create new, incremental revenue streams,” said Michael Zahra, President & CEO.
Artificial Intelligence is Key for Future Growth
Travelers Companies Inc. (NYSE:TRV) is using drones for example. In fact, “We’ve made more than 70,000 flights with our drones fleet over the past few years,” says Patrick Gee, Senior Vice President of Claims at Travelers, as quoted by Fintech Zoom, which added, “He says that in the past, a contractor with special types of rigging might need to get up on a customer’s roof, slowing down the claims process. But drones can oftentimes evaluate all of the damage in one visit.
In 2019, FedEx (NYSE:FDX) completed its first drone delivery. According to the company, the “delivery of a FedEx Express package marks the launch of the first scheduled, commercial residential drone delivery service and the first scheduled e-commerce delivery via drone delivery trial in the United States.”
In short, drone demand is just beginning to take flight.
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