Ryder System
Assembly Line
Ryder and Terminal Digitize Yard achieve 99% accuracy with AI computer-vision
Ryder System, Inc., a leader in supply chain, dedicated transportation, and fleet management solutions, and Terminal Industries, which develops artificial intelligence (AI) platforms to digitize yard operations, announce the first successful pilot program leveraging Terminal’s computer-vision technology to automatically index and analyze trucks and trailers flowing in and out of the warehouse yard. Since January, the ongoing pilot at a Ryder e-commerce fulfillment center in City of Industry, California, has processed more than 10,000 truck detections, achieving 99% accuracy in capturing license plates and Department of Transportation (DOT) numbers.
“We are building the language of the yard,” says Max Constant, CEO of Terminal. “Ryder’s data is a gold mine for training. Most people believe more data is the answer, but it’s really about having the right data – the noisy, real-world data. That’s a major key to developing our core technology, so we can leverage this powerful tool – not just for one use case but across a broad range of applications to optimize yard operations in ways not yet evident in the industry.”
Terminal Industries Emerges from Stealth; Announces $17M Seed Round to Bring AI to Yard Operations Globally
Terminal Industries emerged from stealth and announced $17 Million in seed funding co-led by 8VC, the most active supply chain investor, and Prologis Ventures, the venture arm of the global leader in logistics real estate, to develop novel AI platforms that optimize the yard. The round includes participation from strategic investors including NFI Ventures, RyderVentures, the corporate venture capital arm of Ryder System, Inc., Lineage Logistics, Vehicle Velocity Group, the Friedkin Group International, as well as world-class logistics-focused venture firms 9Yards, Northstar.vc, Amplifier, and MS&AD Ventures.