AIR CARGO is on target to lose out on billions of dollars of revenue generated by super-digitisation over the next decade, a major report warns.
A share of US$1.5 trillion is at stake for logistics and airfreight players as a result of the oncoming digital transformation through to 2025, reveals a special report conducted by the World Economic Forum.
The missed opportunity is because logistics and air cargo companies continue to introduce digital innovations at a slower pace than most other industries, it notes.
“This slower rate of digital adoption brings enormous risks that, if ignored, could be potentially catastrophic for even the biggest established players in the business,” the report asserts.
It points out that other industries with close links to logistics, such as retail, have been ‘revolutionised by digital technology’, and the chances of digital disruption engulfing the logistics industry are increasing, writes Thelma Etim.