Fireside Chat: Unveiling Key Technology Trends Shaping 2025
This fireside chat recap is from FreightWaves’ Domestic Supply Chain Summit on Wednesday.
FIRESIDE CHAT TOPIC: 2024’s technology wins and 2025’s technology road map
DETAILS: Walter “Mitch” Mitchell, CEO of Tai Software, explored significant broker market highlights of 2024 and anticipated key trends for the coming year during FreightWaves’ Domestic Supply Chain Summit.
Key Insights and Trends
In a year marked by challenges, 2024 proved to be strenuous for many. According to Mitchell, the cyclical nature of the freight market means these challenges are not permanent. As he pointed out, "2024 was a tough year, I think for everyone. The freight market is cyclical. It goes up and down, and just like we’re in a tougher downswing right now, we’ll come back, and when we come back, we have to be prepared for that."
Mitchell emphasized the focus on operators and brokers handling freight daily. Ensuring technology integration and providing contextual information have become paramount:
"What we’ve been seeing on the technology side is a focus on the operators, a focus on the brokers who are moving freight every day and making sure that our technology and the technology partners that we’re working with are all integrated really nicely together, so that they are giving contextual information."
Fraud prevention was another crucial topic in 2024, highlighting the integration of preventive measures into existing workflows:
"Fraud has been a little bit of a topic this year. It’s not just about fraud and fraud prevention. It’s how are you helping your team prevent the fraud in context to their workflows? Those are the kinds of trends we’ve been seeing, and they’re really exciting to see, because it’s going to help everybody. It makes us all a lot stronger and better."
The concept of buy-plus-build for large-scale applications is another trend gaining traction. This approach allows companies to purchase existing products while developing custom tools, fostering integration and innovation:
"The thing that we’ve been seeing a lot of trending towards… is this idea of buy-plus-build for large-scale applications, or for best-in-show, where we get an opportunity to buy a product and then connect to other things. It ties into this connectivity, where I can buy a TMS, I can buy a great freight management product, and they work together. Then I can also build my own custom tools on top of it."
Looking Ahead: AI’s Rising Role
No conversation about the future would be complete without mentioning artificial intelligence (AI), which Mitchell anticipates will continue to gain prominence in 2025:
"This wouldn’t be a proper conversation about the future if I didn’t say AI. What I think we’re going to see with AI in 2025 is it’s taking over the world, and it’s not going anywhere."
The conversation outlined a promising future shaped by innovative technology trends and the strategic integration of AI, positioning companies to thrive in the evolving landscape.
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