How AI and blockchain can transform supply chains

Modern supply chains have hit a level of complexity that has never been seen before as global trade becomes ever more diversified. The growing digitization of the world economy, the development of IoT technology and advanced personality-based targeted marketing techniques have created an environment where customer markets are instantly available, adaptable and trackable. Businesses are constantly striving for ways to improve their profit margins but as, COVID-19 dramatically demonstrated, it can be hard to maintain supply chains from raw materials to the final product. Customers, companies and suppliers increasingly span industries, demographics and a wide selection of jurisdictions. Our supply chains have indeed proved to be vulnerable as has been seen by a lack of computer chips and other electronic components. Investigative consumer interaction and critical analysis have revealed the significance of ethically sourced raw materials and supply chain transparency for product value and…