FourKites receives patent for AI-powered ETA using smart forecasted arrival engine
Earning a patent for a supply chain visibility software platform, FourKites leverages cutting-edge AI and data science to provide highly accurate and frequent ETAs, even for untrackable loads.
FourKiteshas announced it has been awarded U.S. Patent No. 11,017,347 by the US Patent Office for its Smart Forecasted Arrival (SFA) capabilities, which provide companies with highly frequent and accurate ETAs for freight in transit—even when that truck lacks any technology to transmit location data. SFA is now available to FourKites customers globally, extending the benefits of real-time visibility to freight that would otherwise be invisible to modern supply chain management solutions.
Even as companies worldwide accelerate their investments in real-time transportation visibility platforms (RTTVPs)to better track and manage their freight in transit, they have been hindered by the portion of loads that previously couldn’t be tracked, usually due to the lack of electronic logging devices (ELD) onboard, errors in asset assignments or carrier compliance issues. SFA solves this longstanding problem by applying cutting-edge artificial neural networking (ANN) and machine learning (ML) technologies to the industry’s largest supply chain data network. SFA is able to estimate the location of freight in transit based on other signals and data in the network, ultimately providing ETAs on 97 percent of untracked loads with 85 percent accuracy. The system correctly predicts late loads more than 90% of the time. This further strengthens FourKites Tracking Quality Guarantee, which establishes the highest standards in supply chain data quality across all modes.